A Toronto-based battery materials company absolutely stole the session’s spotlight on Tuesday following yesterday’s announcement that its battery grade cobalt supply agreement with LG Energy Solution, a leading global manufacturer of lithium-ion batteries, has been extended and expanded from terms initially announced in September 2022, according to the release.

Shares of Electra Battery Materials Corporation (TSXV:ELBM)(Nasdaq:ELBM) skyrocketed on Tuesday, with shares trading on the Canadian side closing the session up at $2.72/share (+76.62%). This move could be an indication of things to come in the near future given the sheer magnitude of the momentum seen on Tuesday.

Electra Battery Materials Corp is building North America's fully integrated, localized, and environmentally sustainable battery materials park. Electra Battery Materials is an integral part of the North American battery supply chain, providing low-carbon, sustainable, and traceable raw materials for the region's fast growing electric vehicle industry.

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