YUMA, Ariz.--(BUSINESS WIRE)--#AdvancedManufacturing--EVelution Energy LLC (“EVelution Energy”), a U.S. critical minerals company developing the first commercial-scale, solar-powered cobalt metal and cobalt sulfate processing facility in the United States, today announced the start of construction of the 28-megawatt (MW) solar facility that will power its planned cobalt processing operations in Yuma County, Arizona.
Construction began with the installation of the first permanent steel mounting piles across the project's 150-acre solar site, marking the start of physical construction of the solar facility. The piles were installed in their final designed locations in accordance with the project's construction plan. These permanent steel piles will support the solar panels that will power the Company's cobalt processing facility once construction is complete.
The solar facility is a key part of EVelution Energy's strategy to build a resilient domestic critical minerals supply chain supported by American industry, renewable energy and advanced manufacturing.
The Company is designing the solar facility to maximize the use of American-made steel, domestically manufactured equipment and U.S. engineering services, consistent with its broader strategy of strengthening domestic critical mineral supply chains.
Today's announcement represents another important milestone in the Company's phased development strategy, following recent progress in permitting, commercial agreements and project development as EVelution Energy continues advancing America's first commercial-scale solar-powered cobalt processing facility.
Solar Array Construction Underway
The first steel piles now installed mark the beginning of construction of the solar array that will ultimately support thousands of solar panels powering the facility. Installation was carried out under a binding construction contract using engineering drawings prepared and approved by Aquila Energy, the project's Solar EPC contractor, with engineering and project integration support from M3 Engineering & Technology Corporation. The work forms part of the Company’s broader solar infrastructure program being implemented in connection with the planned cobalt processing facility.
Construction of the full solar array is expected to continue through 2026 and into 2027, with pile installation, racking, electrical, and civil work advancing in sequence ahead of the commissioning of the cobalt processing plant, which is expected to reach commercial operation by the end of 2029.
"Today's groundbreaking marks another important milestone in our effort to rebuild America's domestic critical minerals processing capability, and we're proud to be taking that next step here in Yuma County. The piles going into the ground mark the beginning of the renewable energy system that will power the first cobalt metal and cobalt sulfate processing facility in the United States. We're equally proud that we're building this project around 100% American-made structural steel, American engineering and American manufacturing," said Navaid Alam, President & CEO, EVelution Energy.
The Solar Facility
The 28 MW solar facility, now under construction, is being built on the Company's property in Yuma County, Arizona, one of the sunniest regions in the United States. Once complete, it is expected to generate enough electricity to power the Company's critical minerals processing facility entirely with solar energy. Excess electricity will be stored in on-site battery systems or supplied to the local electric grid.
As part of its broader strategy to strengthen domestic critical mineral supply chains, EVelution Energy is designing the project to maximize the use of American-made materials, equipment and energy infrastructure throughout construction and operation, and has committed to using 100% American-made steel in the solar, battery storage and cobalt processing facility structures.
Building America’s Critical Minerals Future
The commencement of solar construction marks another significant milestone in the development of EVelution Energy's critical minerals processing platform in Yuma County. By combining domestic cobalt processing with on-site solar power, battery storage, and future recycling capabilities, the Company is building a facility designed to strengthen America's critical minerals supply chain for decades to come.
When fully operational, EVelution Energy’s Yuma County facility will be the first commercial-scale cobalt metal and cobalt sulfate processing facility in the United States, processing approximately 24,000 metric tons of cobalt hydroxide feedstock annually and producing:
- Up to 20,000 metric tons per year of EV battery-grade cobalt sulfate, containing approximately 4,000 metric tons of cobalt; and
- Up to 3,000 metric tons per year of alloy-grade cobalt metal.
This output is expected to supply up to approximately 40% of projected U.S. cobalt demand, supporting American aerospace, defense, EV battery and advanced manufacturing industries.
Economic Impact and Community Benefits
EVelution Energy’s $450 million Yuma County cobalt processing facility is expected to generate approximately $1.2 billion in annual economic activity across Arizona and create more than 6,200 direct, indirect and induced jobs over the life of the project. Located in a rural Qualified Opportunity Zone, near Tacna, Arizona, the project is designed to bring long-term industrial investment, skilled employment and supply-chain activity to a part of Arizona targeted for economic development and community revitalization.
The census tract of the project site is currently being considered for re-designation by Governor Hobbs under the next generation of the federal Opportunity Zone program, further reinforcing the project’s alignment with long-term rural economic development priorities in Arizona.
This Press Release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under applicable securities laws.
ABOUT EVELUTION ENERGY
EVelution Energy LLC is developing the first solar-powered commercial-scale cobalt sulfate and cobalt metal processing facility in the United States, designed to establish secure and resilient domestic refining capacity for the U.S. aerospace, defense, electric vehicle battery and advanced manufacturing sectors.
The facility will be constructed in a rural qualified opportunity zone in Yuma County, Arizona. The Opportunity Zone Program, originally established under the U.S. Tax Cuts and Jobs Act of 2017 and subsequently made permanent under federal law, provides long-term tax certainty and enhanced incentives for investors supporting strategic domestic manufacturing and community revitalization.
EVelution Energy’s leadership team brings extensive experience in international infrastructure development, capital markets structuring, and strategic project execution, with a focus on building a resilient U.S. critical minerals platform.
Learn more at www.evelutionenergy.com.
U.S. “accredited investors” interested in investing in this project (Minimum Investment US$200,000) and benefitting from the substantial long-term tax advantages available under the now-permanent Opportunity Zone Program, can learn more at https://investors.evelutionenergy.com.
Foreign “accredited investors” interested in investing in this project (Minimum Investment US$800,000) and obtaining U.S. permanent residency (a “green” card) in an expedited manner under the EB-5 Immigrant Investor Program, can learn more at http://www.intermesticeb5.com.
Cautionary Statement Concerning Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements are not historical facts and EVelution Energy has based these statements on management’s current expectations and assumptions. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. These factors include, but are not limited to, (i) regulatory or policy changes affecting advanced manufacturing, defense procurement, or federal critical minerals initiatives and/or the funding available to the Export Import Bank under the Make More in America initiative, (ii) potential construction delays, supply chain issues, governmental approvals and regulatory, environmental or other issues encountered in connection with the development and construction of the facility, (iii) growth in U.S. demand for defense, aerospace, and advanced manufacturing applications utilizing refined cobalt products, (iv) capital and credit market volatility, (v) local and global economic conditions, (vi) changes within USCIS relating to projects that qualify for priority treatment, and (vii) our future business development, results of operations and financial condition. In some cases, forward-looking statements can be identified by words or phrases such as “may,” “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. All information provided in this press release is as of the date of this press release, and EVelution Energy undertakes no duty to update such information, except as required under applicable law.”
Contacts
Need an interview or further information? Please contact EVelution Energy’s Press Office at: media@evelutionenergy.com
