Volt Resources Ltd (ASX:VRC, OTC:VLTRF) continues to prioritise non-dilutive funding as a strategic imperative for advancing its key graphite interests across the world.
In May, the company’s Ukrainian subsidiary, Zavalievsky Graphite, secured a €600,000 Graphite Anode Development Grant from the European Union's Horizon Research and Innovation funding program.
In the United States, the Department of Energy recently signalled its intent to award about US$3.5 billion in grants designated for commercial-scale battery and battery material plants.
Volt is assembling a multi-company team and intends to request more than US$50 million for its US-based natural graphite anode plant.
The anticipated facility will be on a 33-acre plot in Southeast US, with a planned annual capacity of 7,500 tonnes of natural graphite anode.
In addition to international funding, Volt is seeking more than A$1.6 million from an Australian Government agency to enhance the properties of graphite for applications in energy storage and electric vehicles.
Volt’s projects
Volt has a 70% interest in the Zavalievsky Graphite (ZG) business in Ukraine.
The ZG mine and processing facilities have been in operation since 1934 and are near key markets with significant developments in lithium-ion battery production.
In Serbia, Volt acquired three licence applications that are prospective for lithium-borate mineralisation.
The licence applications are in respect to a total area of 291 square kilometres and are west and southwest of the Serbian capital, Belgrade.
Furthermore, Volt is also progressing with the development of its large wholly-owned Bunyu Graphite Project in Tanzania.