What’s Happening: Westwin Elements has secured $5.4 million in Series A investment and pre-approval from a private lender to fund the construction of the only refinery for nickel and cobalt in the United States. The refinery will supply crucial sectors of the US economy and military with superalloys for aerospace, lithium-ion batteries for transportation, and cemented carbides for manufacturing.
Why It Matters: The establishment of a domestic source of ethically sourced and sustainably produced high-purity critical minerals, such as nickel and cobalt, is crucial for the economic and national security of the US. The US government has recognized both nickel and cobalt as critical minerals, which have a vulnerable supply chain.
Key Points:
- Westwin Elements has raised a total of $30.4 million in cash and cash equivalents to date.
- Former Boeing CEO Dennis Muilenburg is among Westwin’s Series A investors and is a member of the Westwin Board.
- Westwin Elements Founder and CEO KaLeigh Long aims to make a major national security, energy, and economic impact in the USA by building America’s only major critical metals refinery.
- The US government defines critical minerals as minerals “essential to the economic or national security of the US and which has a supply chain vulnerable to disruption.”
Bottom Line: The construction of the only refinery for nickel and cobalt in the US by Westwin Elements is a significant step towards establishing a secure supply chain of critical minerals for the US economy and military. The refinery will be a major American supplier of ethically sourced and sustainably produced high-purity critical minerals, starting with nickel and cobalt.
