Solar-Powered Cobalt Facility Planned for Arizona

Yuma County, Arizona, may soon host a groundbreaking solar-powered cobalt production facility. EVelution Energy, a local company, has announced receiving a non-binding letter of interest from the Export-Import Bank of the United States for a potential $200 million loan. This funding would support the construction and operation of the facility, which aims to bolster domestic cobalt production.

Cobalt is a critical mineral used in aerospace, defense, and energy transition technologies. Currently, over 75% of the world’s refined cobalt comes from China, and the United States lacks commercial-scale cobalt processing facilities. EVelution Energy’s planned facility in eastern Yuma County could change this dynamic, with projections indicating it could meet 20-40% of the nation’s cobalt demand once fully operational.

The project, set to begin construction in 2025 and complete by 2027, is expected to generate over $750 million in economic activity and create more than 3,000 jobs. The facility’s reliance on solar power aligns with broader energy transition goals, highlighting its potential significance in both economic and environmental terms.