Projects
EVelution Energy
Through Intermestic EB5 Fund II LP, Intermestic Capital is financing EVelution Energy's development of America's first solar-powered, commercial-scale cobalt processing facility in Tacna, Yuma County, Arizona. The site is in a high-unemployment targeted employment area, and USCIS approved the fund's Form I-956F on September 30, 2026.
For informational purposes only. Not an offer to sell or a solicitation of an offer to buy any security. USCIS approval of the I-956F does not guarantee approval of any individual I-526E petition. EB-5 investments involve risk, including loss of capital.
Why Cobalt Matters
Cobalt is a critical mineral for batteries, aerospace and defense, from jet engine alloys to EV batteries.
China controls more than 75 percent of global cobalt refining, and the United States has no commercial-scale cobalt processing facility of its own.
EVelution's facility is designed to supply up to 40 percent of projected U.S. cobalt demand, producing battery-grade cobalt sulfate and alloy-grade cobalt metal.
The Pentagon is rebuilding its cobalt stockpile for the first time since 1990, and from January 1, 2027, defense contractors cannot use samarium-cobalt magnets sourced from China.
Project Highlights
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28 MW solar facility under construction since June 30, 2026, built with American steel
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Designed to process about 24,000 metric tons of cobalt hydroxide feedstock a year
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Binding five-year Mitsui & Co. offtake for substantially all planned cobalt metal production
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Processing facility construction expected late 2027; operations targeted for 2029
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More than 3,300 projected direct, indirect and induced jobs (USCIS-reviewed economic analysis)
Project Developer
EVELUTION ENERGY
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US$275 million proposed EXIM Bank financing support (letter of interest)
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Up to US$70 million Finnvera export credit support (letter of interest)
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293-acre site on Interstate 8 and the Union Pacific Railroad
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Nominated by Arizona for Opportunity Zone 2.0 rural designation
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Groundwater resources confirmed; about 70 percent of process water recycled on site
Recent Projects
2
Park Central Plaza
Our firm invested in the acquisition and revitalization of Park Central Mall, an iconic retail destination in Phoenix, Arizona. This strategic private equity investment plays a crucial role in the ongoing transformation of this historic landmark into a bio-medical hub, anchored by Creighton University Medical School.
Recent News
October 6, 2026
USCIS Approves Form I-956F for Intermestic EB5 Fund II LP
USCIS approved the Form I-956F for Intermestic EB5 Fund II LP on September 30, 2026. The fund invests in EVelution Energy's commercial-scale, solar-powered cobalt processing facility in Tacna, Yuma County, Arizona. Mitsui & Co. has signed a five-year offtake agreement, construction of the project's solar facility began June 30, 2026, and the project's economic analysis projects more than 3,300 jobs.
For informational purposes only. Not an offer to sell or a solicitation of an offer to buy any security. USCIS approval of the I-956F does not guarantee approval of any individual I-526E petition. EB-5 investments involve risk, including loss of capital.
