How did Volt Resources' Achieve the US Government Funding Review?

Volt Resources Advances on Non-Dilutive Funding for Critical Materials Project

Volt Resources Limited, a key player in the critical minerals and battery materials sector, has made significant strides in securing non-dilutive funding from the US Government for its subsidiary, Volt Energy Materials LLC (VEM).

The company's Concept Paper on a Critical Materials project has achieved the initial review, paving the way for a Full Proposal submission in March 2024. This development could lead to VEM receiving up to US$1. 0 million in funding, marking a crucial step in Volt Resources' expansion and development of its graphite anode production capabilities.

Funding Opportunity Breakthrough: Non-Dilutive Funding on the Horizon

Volt Resources' submission of a Concept Paper in response to a Funding Opportunity Announcement from the US Government has successfully passed review, an achievement only a fraction of submissions attain. This milestone allows Volt to proceed with a Full Proposal, potentially unlocking up to US$1. 0 million in non-dilutive funding for its Critical Materials project by August 2024.

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Distinct Project Focus

It's important to note that this project is distinct from Volt's previously announced US$100+ million grant proposal aimed at accelerating its downstream graphite anode business. The company is currently awaiting the review outcome of this separate initiative and expects to provide further updates shortly.

Established Producer with Expanding Horizons

Volt Resources is not only an established graphite producer through its 70% interest in the Zavalievsky Graphite business in Ukraine but also an emerging producer of natural graphite anode, a crucial component in lithium-ion batteries. The Zavalievsky Graphite mine, operational since 1934, is strategically located near significant developments in lithium-ion battery production, benefiting from an established customer base and supply chains.

Strategic Lithium-Borate Prospects

In addition to graphite production, Volt has expanded its mineral exploration portfolio to include three license applications in Serbia, prospective for lithium-borate mineralization. These sites are strategically located near Belgrade, indicating Volt's ambition to diversify its critical mineral holdings.

Advancing the Bunyu Graphite Project

Volt is also progressing with the development of its wholly-owned Bunyu Graphite Project in Tanzania. Following the completion of a revised Feasibility Study for Stage 1 development, which outlined significantly improved economics, Volt aims to establish the Bunyu Graphite Project as a world-class supplier of graphite products. This initiative is designed to not only enhance Volt's graphite business but also support the development of a larger Stage 2 expansion project.

Volt Resources' successful advancement in securing non-dilutive funding for its Critical Materials project underscores the company's commitment to expanding its footprint in the critical minerals sector.

With projects ranging from graphite production in Ukraine to exploring lithium-borate in Serbia and developing graphite projects in Tanzania, Volt is positioning itself as a pivotal player in the global battery materials market. The potential funding from the US Government could further accelerate Volt's initiatives, promising exciting developments for the company and its stakeholders in the near future.

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