Phoenix, AZ, April 29, 2026 (GLOBE NEWSWIRE) — Intermestic Capital LLC today announced that EVelution Energy LLC, a project sponsored through its Intermestic EB5 Fund II, LP (the “Intermestic Fund”) under the EB-5 immigrant investor program, has entered into a binding five-year cobalt offtake agreement with Mitsui & Co., Ltd. (“Mitsui”), valued at approximately $850 million. The agreement provides contracted revenue visibility, improving the project’s financing profile and helping to mitigate certain commercial risks.
EVelution Energy and Mitsui & Co. Strengthen US Cobalt Supply Chain
EVelution Energy is the developer of the first solar-powered, commercial-scale cobalt processing facility in the United States, located in Yuma County, Arizona. More than 75% of global refined cobalt production is currently concentrated in China, underscoring the strategic importance of developing domestic processing capacity in the United States. The facility is designed to help address this supply gap.
Cobalt is a critical input not only in electric vehicle batteries, but also in jet engine superalloys, satellite systems, permanent magnets (including samarium cobalt (SmCo) magnets), high-performance microchips, and other advanced technologies.
When fully operational, the Yuma County plant is expected to produce up to 7,000 metric tons of cobalt sulfate and cobalt metal annually, supplying a meaningful share of U.S. demand across aerospace and defense, electric vehicle batteries, and advanced manufacturing.
The EVelution Energy EB-5 project has been submitted by the Intermestic Fund to USCIS for expedited review based on its national security designation. The project has also received public support from Arizona state and federal elected officials, including Arizona’s Governor and multiple members of Congress.
The facility is designed to generate its own solar power, recycle approximately 70% of its process water, and operate without on-site tailings storage or disposal. Construction is expected to begin in early 2027 and be completed by the end of 2029. The project is expected to generate more than $750 million in economic activity and create more than 3,300 direct, indirect, and induced jobs in Yuma County over the life of the project.
“The United States has a cobalt problem, and Yuma, Arizona is the solution. When Mitsui — one of the most sophisticated trading houses in the world — signs an offtake agreement valued at approximately $850 million, that is not a bet on the future. That is a verdict on the present. Intermestic Capital is proud to bring this opportunity to global investors who understand that national security and economic returns are not in conflict — they are the same thing,” said Marco A. López, Jr., Founder of Intermestic Capital.
Intermestic Capital is offering qualified foreign accredited investors access to Intermestic EB5 Fund II, LP with a minimum investment of $800,000, subject to subscription acceptance and availability. Eligible investors may apply for U.S. permanent residency through the EB-5 Immigrant Investor Program, administered by USCIS, with the potential for priority processing given the project’s national security designation; outcomes depend on USCIS decisions. Due to the national security nature of this investment, participation in the EVelution Energy EB-5 program is available only through Intermestic Capital and its authorized distribution partners. EB-5 brokers, licensed placement agents, and institutional partners are invited to contact Intermestic Capital to explore distribution arrangements. Offering materials are available to qualified investors after signing a confidentiality agreement. For more information, visit www.intermesticeb5.com.
About Intermestic Capital:
Intermestic Capital LLC is an Arizona-based alternative investment firm, EB-5 fund sponsor, and the investment arm of Intermestic Partners (www.intermestic.com), an international advisory firm focused on cross-border trade, national security, and North American development. Founded by Marco A. López, Jr., former Chief of Staff at U.S. Customs and Border Protection and former Director of the Arizona Department of Commerce, Intermestic Capital structures and sponsors investment funds at the intersection of national security, critical minerals, and allied industrial cooperation. Investment opportunities of a national security nature are available only through Intermestic Capital and are offered solely under definitive offering documents to investors who meet applicable legal and regulatory requirements. Learn more at www.intermesticeb5.com.
This press release is not an offer to sell or a solicitation of an offer to buy any securities; any offering will be made only by confidential offering documents. All information on EVelution Energy and the Mitsui offtake agreement is drawn solely from EVelution Energy’s press release dated April 27, 2026. Intermestic Capital makes no independent representations regarding the accuracy or completeness of third-party information.
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Intermestic Capital
Press Inquiries
Sergio Chavez Moreno
sergio [at] intermestic.com
(915) 345-7138
https://www.intermesticcapital.com
A video accompanying this announcement is available here: https://youtube.com/watch?v=DEsQA7Rc3_E
