WEST PALM BEACH, FL / ACCESS Newswire / November 2, 2026 / Evaluating the Potential of a Domestic Resource
Reliable access to battery materials is an important consideration as electric vehicles and grid-scale energy storage continue to develop. Lithium-ion batteries are used across these applications, placing lithium among the materials watched by companies and policymakers assessing future supply needs.
ELEKTROS Inc. (OTC PINK:ELEK), a publicly traded company with ticker symbol ELEK, is conducting an initial assessment of a possible hard-rock lithium property in northern New York, close to the Canadian border. This work remains exploratory. The property has not been acquired by ELEKTROS, and there is currently no independently verified mineral resource or reserve or established economic development case.
Leadership Remarks Reflect Battery and Critical-Mineral Significance
Elon Musk, Chief Executive Officer of Tesla, has spoken about the potential role of lithium-ion batteries in energy storage. In Tesla's Q1 2021 earnings call, Musk said:
"There's no question in my mind whatsoever that the energy storage problem can be solved with lithium-ion batteries." - Elon Musk, Tesla Q1 2021 earnings call.
The statement relates to lithium-ion batteries as an energy-storage technology. It should not be interpreted as a prediction about a particular mine, deposit or company, and battery compositions differ by application.
In remarks at the American Mining Roundtable on August 7, 2026, President Donald J. Trump highlighted the importance of critical minerals to American manufacturing and defense-related industries, stating:
"Critical minerals are the raw materials of American strength that power everything from advanced weaponry to automobiles, and we want these essential products to be mined, refined and made right here in the USA with the American skill and American hands." - President Donald J. Trump, American Mining Roundtable, August 7, 2026.
The comments refer to critical minerals as a broad category. They do not identify ELEKTROS, its potential New York property or any contract, grant, military procurement or government partnership involving the company.
Why a Domestic Review May Be Worthwhile
A domestic source of lithium, if proven commercially viable, could potentially contribute to the supply options available to U.S. battery-material processors and other market participants. The location of a project may also influence transport routes, infrastructure needs and supply-chain considerations.
Whether any of these possibilities apply to the property under review remains unknown. Geological testing, verification of ownership and mineral rights, regulatory analysis and economic evaluation would be needed before the company could draw conclusions about the opportunity.
Industry Forecasts Point to Long-Term Investment Needs
In an October 22, 2026 article titled "Lithium's $100 Billion Supply Gap Hands Albemarle a Domestic Moat," Benzinga referenced a Benchmark Mineral Intelligence outlook suggesting that global lithium demand could more than triple by 2050. The outlook discussed the potential need for 134 additional mines and investment exceeding $100 billion, with EV batteries and stationary storage among the demand drivers.
The outlook is a broad industry projection, not a company forecast. It does not verify the presence, quantity, grade, recoverability or value of lithium at the northern New York property, and it does not establish that ELEKTROS will develop or acquire the site.
Patented EV Charging Technology Is a Separate Focus
ELEKTROS is also exploring potential development relationships related to its multi-port EV charging patent, U.S. Patent No. 12,522,100 B1. The company's review of a possible lithium opportunity and its EV charging technology work are separate initiatives within its areas of interest.
No completed prototype, patent license, customer deployment, adoption milestone or revenue related to the patent is being announced in this release.
A Deliberate, Evidence-Based Evaluation
A further review of the property could include independent geological analysis and sampling, confirmation of title and mineral rights, assessment of environmental and permitting obligations, review of access and infrastructure, evaluation of potential processing options, and analysis of logistics, financing and possible transaction terms.
ELEKTROS intends to approach any potential next steps through due diligence. The opportunity's future, if any, will depend on what the company can establish through technical work and its review of regulatory, financial and commercial considerations.
Shareholder Communication and Company Outlook
The company appreciates the attention of shareholders and market participants as it evaluates opportunities in areas connected to North American supply chains and EV technology. ELEKTROS recognizes that a preliminary property review is not the same as a defined or operating mining project.
Management expresses gratitude to Almighty God as the company works toward measurable progress. This announcement is provided for informational purposes only and is not an offer to sell securities or a recommendation to purchase ELEK shares.
About ELEKTROS Inc.
ELEKTROS Inc. is publicly traded on the OTC market under ticker symbol ELEK. The company's areas of interest include hard-rock lithium opportunities, EV charging infrastructure and patented EV charging technology. The northern New York property described in this release has not been acquired by ELEKTROS and is not a producing mine.
Forward-Looking Statements and Important Risk Disclosure
This release includes forward-looking statements under applicable securities laws relating to a possible property acquisition, lithium mineralization, resources, mining, processing, transportation, tariffs, financing, prospective customers, charging technology and commercial opportunities. Such statements are based on current expectations and are not guarantees of future performance. ELEKTROS has not announced an acquisition of the northern New York property, a verified mineral resource or reserve, a feasibility study, a mining permit, an operating mine, a production schedule, a refinery supply agreement or a commercial charging prototype.
Actual outcomes may differ materially due to risks and uncertainties, including geological uncertainty; property title and mineral rights; permitting and environmental requirements; access to capital; commodity prices; processing capacity; transportation and logistics; third-party relationships; technology development; competition; and market volatility. ELEK is a speculative microcap security, and investors may lose some or all of their invested capital. Readers should perform independent due diligence and consult their financial, legal and tax advisers before making an investment decision. ELEKTROS 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: elektros.energy
Industry, Policy and Patent References
Elon Musk, Tesla Q1 2021 earnings call transcript, April 27, 2021 - https://stockanalysis.com/stocks/tsla/transcripts/4284-q1-2021/
President Donald J. Trump, remarks at the American Mining Roundtable, August 7, 2026 - https://rollcall.com/factbase/trump/transcript/donald-trump-remarks-roundtable-american-mining-august-7-2026/
Benzinga, October 22, 2026: "Lithium's $100 Billion Supply Gap Hands Albemarle a Domestic Moat" - https://www.benzinga.com/markets/commodities/26/10/62523013/lithiums-100-billion-supply-gap-hands-albemarle-a-domestic-moat
U.S. Patent No. 12,522,100 B1 - https://patents.google.com/patent/US12522100B1/en
SOURCE: Elektros, Inc.
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