News Summary

Xerion Advanced Battery Corp., a startup co-founded by John Busbee, is addressing the geopolitical challenges associated with cobalt refining by developing a new technique to produce highly refined cobalt using electricity and minimal heat. Currently, 72% of the world’s cobalt is refined in China, and the U.S. lacks its own refineries, posing a risk for industries reliant on the mineral. Xerion’s innovative process involves plating metals onto electrodes through a bath of molten salt, simultaneously producing battery material and pure cobalt metal. The company is opening a pilot-scale production facility in Dayton, Ohio, capable of producing five metric tons of cobalt, with plans for a next-generation plant to output 2,000 metric tons annually. This development positions Xerion as a cost-competitive alternative to Chinese refineries, potentially reshaping the cobalt supply chain in the U.S.