Volt Resources Ltd (ASX:VRC) has signed a Memorandum of Understanding (MoU) with 24M Technologies, Inc. to collaborate on qualifying Volt’s battery anode material and cathode conductive additive products for use in 24M’s SemiSolid manufacturing platform.
The MoU comes just two days after VRC entered into a joint development agreement with battery cell developer 24M focused on coated spheronised purified graphite (CSPG) and non-spherical graphite products to enhance lithium-ion battery (LIB) performance.
Read: Volt Resources signs joint development agreement with battery cell developer 24M Technologies
To be a preferred supplier
Should the joint development agreement program be deemed successful by 24M, it will promote Volt as a preferred supplier for the LIB natural graphite anode and LIB cathode conductive additive to 24M licensees.
“We are uniquely positioned to become a leading and a low-cost LIB anode producer due to access to high-quality graphite from our graphite business in Ukraine, which has been in operation since 1934, and inverted flow sheet manufacturing process which simultaneously produces value-added products for lithium-ion, alkaline and lead acid batteries,” Volt managing director Trevor Matthews said.
“Volt’s 70% owned Zavalievsky Graphite business in Europe and future supply from the Bunyu Graphite Project in Tanzania are foundations for our integrated LIB material business growth.”
Initial indicative pricing for LIB anode materials based on current market conditions has been mapped out by the companies for the MoU and Volt has agreed to meet the future LIB natural graphite anode and LIB cathode conductive additive volume requirements of 24M’s licensees.
Within six months of execution of a binding graphite offtake agreement, 24M will evaluate an investment in Volt’s US subsidiary, Volt Energy Materials LLC (VEM).
“We are very pleased with the progress made by our battery material business – Volt Energy Materials. We have the right entrepreneurial team in place for VEM and with the recent implementation of the Inflation Reduction Act, the US is already witnessing a dramatic growth of LIB and associated component manufacturing,” Matthews said.
24M president & CEO Naoki Ota said: “We are excited to expand our relationship with Volt Energy Materials LLC and look forward to optimising their low-cost, high-quality graphite for our SemiSolid manufacturing platform.
“We believe, when fully optimised, the spheronised graphite has the potential to lower the cost and improve the performance of SemiSolid lithium-ion cells and through Volt provide a low-cost, stable supply for our licence partners.”