Why Is Volt Resources Receiving Funding from the US DOE?
Volt Resources Limited
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Why Is Volt Resources Receiving Funding from the US DOE?

Volt Resources Secures Major US Department of Energy Funding for Graphite Anode Production

Volt Resources Limited, an established graphite producer and developer of natural graphite anode materials, has announced a significant step forward in its downstream business activities.

The company has received the US Department of Energy's (DOE) approval for its Concept Paper, paving the way for a potential grant of over US$100 million. This funding aims to support the construction and commissioning of a commercial-scale natural graphite anode powder plant in the United States, enhancing Volt's position in the battery materials market.

Strategic Funding Approval

Following the DOE's earlier provision of US$1 million for a critical materials project review, Volt's latest approval marks a substantial increase in potential non-dilutive funding. This move is part of the Bipartisan Infrastructure Law (BIL), which allocates over US$7 billion to the battery supply chain over five years.

Competitive Selection Process

Volt's success in the initial review stage of the DOE's Funding Opportunity Announcement (FOA) underscores its competitive edge in the sector. The company's proposal under AOI 4.

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b: Commercial-scale Domestic Production of Battery Anodes stands out among numerous applicants, demonstrating the project's strong potential and alignment with DOE criteria.

Project Overview: Integrated Graphite Anode Production

The proposed 10,250 tpa integrated natural graphite anode powder plant represents a critical development in meeting the increasing demand from battery manufacturers. Volt's project is strategically positioned to leverage the growing battery production ecosystem in the US.

Evaluation Criteria

The DOE's evaluation of full proposals will consider technical merit, applicant financial resources, commercial viability, team strength, and community benefits. Final decisions are anticipated in August 2024, setting a definitive timeline for project advancement.

Volt Resources at the Forefront

Volt's involvement in graphite production and natural graphite anode development is complemented by its 70% interest in the Zavalievsky Graphite business in Ukraine and the progression of the Bunyu Graphite Project in Tanzania. These projects, alongside the new initiative in the US, position Volt as a key player in the global battery materials market.

Commitment to Sustainable Development

Volt's strategic focus on critical minerals and battery materials underscores its commitment to supporting the clean energy transition. The company's projects are designed to deliver high-quality graphite products while contributing to the development of sustainable battery technologies.

Volt Resources Limited's latest approval from the US Department of Energy represents a significant milestone in the company's expansion into the natural graphite anode market. With the potential for substantial funding to support its US-based project, Volt is well-positioned to capitalize on the growing demand for battery materials. The company's strategic initiatives across various regions reflect its dedication to becoming a leading supplier in the global battery materials sector.

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