01:50 PM EDT, 03/21/2025 (MT Newswires) -- Electra Battery Materials ( ELBM ) said Friday that it received a letter of intent for proposed funding of CA$20 million ($13.9 million).

The funding will support the completion of the construction and commissioning of a battery-grade cobalt refinery, which will enable domestic production of up to one million electric vehicles annually, the company said. Electra also plans to produce other battery materials to strengthen the resiliency of the North American supply chain.

Shares of Electra advanced 7.6%, with intraday trading volume surging to over 4.5 million compared with a daily average of about 56,000.

VivoPower International ( VVPR ) shares soared 34% amid heavy trading after its unit, Tembo E-LV, completed a review of new special purpose acquisition company rules and said its merger with Cactus Acquisition will likely be completed by the end of Q2.

Shares soared 34% as intraday trading volume catapulted to more than 59.2 million from a daily average of about 333,000.

JPMorgan upgraded Super Micro Computer's ( SMCI ) shares to neutral from underweight while adjusting its price target to $45 from $35.

Super Micro said earlier this week it introduced the Petascale storage server with the Nvidia (NVDA) Grace CPU Superchip and expanded its AI systems and rack solutions portfolio with Nvidia's Blackwell Ultra platform.

Shares climbed 8% as intraday trading volume rose to over 45 million from a daily average of roughly 71.4 million.

Price: 1.27, Change: +0.09, Percent Change: +7.63