PERTH (miningweekly.com) – ASX-listed Volt Resources has signed a graphite supply memorandum of understanding (MoU) with US-based 24M Technologies just days after striking a joint development agreement (JDA) with the company.
Under the MoU, the two companies will work to collaborate on qualifying Volt’s battery anode material and cathode conductive additive products for use in 24M’s SemiSolid manufacturing platform.
Subject to a successful determination of the JDA programme, 24M will promote Volt as a preferred supplier for the lithium-ion battery (LIB) natural graphite anode and LIB cathode conductive additive to 24M licensees.
The two companies have outlined in the MoU initial indicative pricing for LIB anode materials based on current market conditions.
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 (VEM).
“We are very pleased with the progress made by our battery material business VEM. 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,” said Volt MD Trevor Matthews.
“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’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,” he said.