The energy giant is investing $6.35 million in local technology company E3 Lithium, which will drill Alberta’s first lithium evaluation wells this year from under the Leduc oil field. The pilot project will allow it to explore “the redevelopment of an historic oil field.” (The Logic)

Talking point: E3 Lithium CEO Chris Doornbos noted that the Leduc oil discovery previously transformed the provincial and national economies—and the lithium industry could be the next opportunity to do the same. The project will also help E3 commercialize battery-grade lithium for electric vehicles and energy storage, the companies said. Meanwhile, Toronto-based Electra Battery Materials is considering a new cobalt refinery in Bécancour, Que., amid “onshoring of electric-vehicle supply chains.” It would fill a gap in the supply chain near the growing cadre of battery companies in Bécancour.