Company evaluates a potential northern New York lithium opportunity as domestic supply-chain activity grows
WEST PALM BEACH, FL / ACCESS Newswire / October 29, 2026 / Federal Actions Put Domestic Lithium in the Spotlight
Lithium has become an important material in the battery supply chain, including for electric vehicles, grid storage and certain defense-related power systems. As the United States seeks to strengthen domestic critical-mineral capacity, federal agencies have announced funding agreements, awards and project-support initiatives involving companies developing lithium resources and battery materials. Against this backdrop, ELEKTROS Inc. (OTC PINK:ELEK) is evaluating whether a potential hard-rock lithium opportunity in northern New York, near the Canadian border, could fit its longer-term strategy. The location remains under consideration only; ELEKTROS is not announcing an acquisition, verified mineral resource or mine-development decision.
Publicly Announced Examples of U.S. Government Support
In September 2023, the U.S. Department of Defense announced a $90 million agreement with Albemarle Corporation under Defense Production Act Title III authorities to support the planned reopening of the Kings Mountain lithium mine in North Carolina and expand domestic lithium production. In August 2024, the Department of Defense announced an $11.8 million award to Lithium Nevada Corporation, a subsidiary of Lithium Americas, to accelerate development of lithium carbonate extraction and processing at Thacker Pass, Nevada. These are examples of federal support for domestic lithium production-not evidence that ELEKTROS has a government agreement or that the companies have been awarded a specific military lithium-supply purchase contract.
More Recent Project Developments
In June 2025, the U.S. Department of Energy identified federal awards of $150 million for Albemarle’s Kings Mountain lithium-materials processing project and $225 million for TerraVolta’s Liberty Owl lithium extraction and refining project. In June 2026, EnergyX announced that it had been selected by the U.S. Army for a conditional long-term lease to develop a lithium-processing facility at Red River Army Depot in Texas. EnergyX described the proposed facility as intended to process lithium into battery-grade materials and nuclear-grade lithium isotopes. The Army-related announcement concerns a conditional lease and planned facility; it should not be described as a completed lithium supply contract or as proof of current commercial deliveries.
Why These Announcements Matter
Together, these public announcements demonstrate that federal agencies have used multiple tools-including Defense Production Act awards, Department of Energy project funding and a conditional Army-site lease-to encourage domestic mineral and battery-material capacity. Each arrangement has its own conditions, milestones and risks. Federal support for other companies does not mean ELEKTROS is eligible for funding, has applied for an award, has received government support, or will secure a contract. Any future opportunity for ELEKTROS would depend on its own project merits, legal rights, technical results, permitting, financing and commercial arrangements.
Evaluating a Potential Northern New York Opportunity
A domestic hard-rock lithium project could potentially benefit from proximity to North American processing and manufacturing networks. Those benefits have not been established for the location under consideration. Responsible evaluation would require confirming ownership and mineral rights, reviewing geological information, arranging independent sampling where appropriate, assessing environmental and permitting obligations, and testing the practical economics of extraction, transportation, processing and financing. No verified resource, reserve, feasibility study, permit, transaction or production schedule is being announced.
A Broader Electric-Mobility Strategy
ELEKTROS is also exploring potential pathways to advance its multi-port electric-vehicle charging patent, U.S. Patent No. 12,522,100 B1. The company’s areas of interest span potential lithium opportunities and EV-charging technology, two distinct areas within the broader electric-mobility ecosystem. The patent does not establish commercial adoption, a completed prototype, a licensing agreement, a customer contract or revenue.
Management Perspective
“Federal agencies have publicly recognized the importance of building stronger domestic supply chains for lithium and other critical materials,” the company said. “ELEKTROS is evaluating potential opportunities with a focus on due diligence, verifiable milestones and commercially realistic economics. We believe it is important to assess opportunities carefully and to communicate clearly about what has-and has not-been achieved.”
About ELEKTROS Inc.
ELEKTROS Inc. is a publicly traded company on the OTC market under ticker symbol ELEK. Its areas of interest include hard-rock lithium opportunities, EV-charging infrastructure and patented EV-charging technology. The potential northern New York location discussed in this release has not been announced as an acquired asset or a producing mine.
Forward-Looking Statements and Important Risk Disclosure
This release contains forward-looking statements under applicable securities laws concerning possible property acquisition, lithium mineralization, resources, mining, processing, transportation, government programs, financing, future customers, charging technology and commercial opportunities. These statements are expectations, not guarantees. ELEKTROS has not announced a completed New York acquisition, an independently verified mineral resource or reserve, a feasibility study, a mining permit, an operating mine, a production schedule, a refinery supply agreement, a government award or a commercial charging prototype. The government awards, agreements and project announcements described above relate to other companies and do not imply that ELEKTROS has received, applied for, or will receive government funding or contracts. Risks include geological uncertainty, title and mineral rights, permitting, environmental obligations, capital availability, commodity prices, processing capacity, logistics, counterparties, technology development, competition and market volatility. ELEK is a speculative microcap security; investors could lose some or all of their investment. This release is for informational purposes and is not an offer to sell or a solicitation to buy securities. Any offer may be made only through applicable offering documents and in compliance with securities laws. Actual outcomes may differ materially. The company undertakes no obligation to update forward-looking statements except as required by law.
Investor & Media Contact
ELEKTROS Inc. | Publicly Traded | OTC Ticker Symbol: ELEK
Phone: 786-477-9003
Email: elektrosinc@gmail.com
Website: https://elektros.energy
Public Sources and References
U.S. Department of Defense, “DoD Enters Agreement to Expand Domestic Lithium Mining for U.S. Battery Supply Chains,” September 12, 2023: https://www.defense.gov/News/Releases/Release/article/3522657/dod-enters-agreement-to-expand-domestic-lithium-mining-for-us-battery-supply-ch/
U.S. Department of Defense, “Department of Defense Awards $11.8 Million to Accelerate Development of Domestic Lithium Carbonate Processing and Production,” August 5, 2024: https://www.defense.gov/News/Releases/Release/Article/3861583/department-of-defense-awards-118-million-to-accelerate-development-of-domestic/
U.S. Department of Energy, “ICYMI: Trump Administration Adds Two DOE Lithium Processing Projects to Federal Permitting Dashboard,” June 3, 2025: https://www.energy.gov/articles/icymi-trump-administration-adds-two-doe-lithium-processing-projects-federal-permitting
EnergyX, “EnergyX Selected by U.S. Army to Build Domestic Lithium Processing Facility at Red River Army Depot,” June 25, 2026: https://energyx.com/press-release/rrad-us-army-domestic-lithium/
SOURCE: Elektros, Inc.
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