Commodity Price VolatilityExposure to swings in commodity and battery-material prices could reduce revenue and margins for the refinery if market prices move unfavorably.
Geopolitical And Political RiskGeopolitical tensions and political risk could disrupt supply chains or limit access to critical inputs and customers for a North American closed-loop supply chain.
Project Execution And Financing RiskConstruction, commissioning and refinery operations carry execution risk, and debt service obligations may strain cash flows if costs rise or timelines slip.