Name of the Project
Yuma County solar-powered cobalt processing project.

Location
Near Tacna, Yuma County, Arizona, US.

Project Owner/s
US critical minerals company EVelution Energy.

Project Description
The project comprises a cobalt metal and cobalt sulphate processing plant, supported by an on-site 28 MW solar facility, battery storage and utility-grid interconnection. The solar facility is supporting infrastructure for the cobalt operation.

The processing plant is designed to treat about 24 000 t/y of cobalt hydroxide feedstock, producing up to 20 000 t/y of battery-grade cobalt sulphate containing about 4 000 t/y of cobalt, and up to 3 000 t/y of alloy-grade cobalt metal. The company expects this output to supply up to 40% of projected US cobalt demand.

The solar array occupies a 61 ha site on the company’s property. Surplus electricity will be stored in batteries or supplied to the grid. The operation is designed to recycle about 70% of process water and avoid on-site process-water discharge and tailings storage.

Potential Job Creation
The company expects the overall project to support more than 6 200 direct, indirect and induced jobs over its life. 

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
About $450-million for the overall project. 

Planned Start/End Date
Solar construction started in June 2026. The installation of piles, racking, electrical systems and civil works is expected to continue into 2027.

The bankable feasibility study is targeted for the first quarter of 2027. Cobalt plant construction is expected to start in 2027, following study completion, a final investment decision and project financing. Commercial operation is targeted for 2029.

Latest Developments
On October 6, 2026, EVelution announced that US Citizenship and Immigration Services had approved the project’s EB-5 investment offering on September 30. The offering is expected to support up to $64.8-million in subordinated financing, alongside Qualified Opportunity Zone equity, for development activities. 

EXIM has reissued a nonbinding letter of interest for up to $275-million, from $200-million, under its Make More in America initiative. Final financing remains subject to due diligence, underwriting, authorisation and other requirements. Finnvera has separately indicated potential export credit support of up to $70-million. These are indications of potential funding.

The site is in an existing Qualified Opportunity Zone. Arizona has nominated its census tract for successor Rural Opportunity Zone designation, subject to US Treasury certification. Institutional equity and possible strategic investment are expected to complement construction financing.

Key Contracts, Suppliers and Consultants
Aquila Energy (solar engineering, procurement and construction contractor); M3 Engineering & Technology Corporation (engineering and project integration support); Mitsui & Co (binding five-year offtake agreement for a substantial majority of planned cobalt metal output); Trafigura, Entreprise Générale du Cobalt and Eurasian Resources Group (feedstock supply frameworks).

Contact Details for Project Information
EVelution Energy, email media@evelutionenergy.com.