EVelution Energy signs $850 million cobalt offtake agreement with Mitsui

The long-term deal secures major volumes from a planned Arizona processing facility, supporting allied critical mineral supply chains and U.S.–Japan industrial coordination

EVelution Energy LLC, described as a U.S. critical minerals company developing the first commercial-scale cobalt metal and cobalt sulfate processing facility in the United States, announced that it has signed a binding long-term offtake agreement with Mitsui & Co. Ltd., valued at approximately $850 million over the five-year term based on current market prices.