Volt Lithium Installs Field Unit, Boosts Production Capacity
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Volt Lithium Achieves Significant Milestone with New Field Unit
Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF | FSE: I2D) has successfully deployed and installed its proprietary direct lithium extraction (DLE) field unit. This significant step occurs as the Company prepares for its first lithium production, marking a crucial advancement in its operations.
Enhanced Production Capabilities in the Permian Basin
The newly installed Field Unit has the capability to process over 200,000 litres (1,250 barrels) of oilfield brine per day. This represents a remarkable two-fold increase from Volt’s previous processing capabilities of 96,000 litres (600 barrels) per day. This development reflects Volt's commitment to scaling production and maximizing efficiency in lithium extraction operations.
Function Testing and Production Timeline
Currently, the Field Unit is undergoing function testing, which is a pivotal phase prior to commencing lithium production. Alex Wylie, President & CEO of Volt, expressed enthusiasm regarding this advancement, stating that the Company is well-positioned to initiate DLE operations in the field, aligning with its anticipated timeline for production.
Future Commercial Operations and Scale-Up Plans
The installation of the Field Unit in the Permian Basin is a strategic step toward full-scale commercialization. With ongoing testing, Volt aims to validate its proprietary DLE technology thoroughly, ensuring efficiency and reliability in future operations.
Innovative Processing Methods
Volt's new Field Unit is designed to be modular, allowing for economic and operational flexibility. The Company has outlined several methods for increasing production capacity:
- Adding modules to boost processing capacity.
- Reducing lithium extraction time to improve production volumes.
- Implementing larger extraction modules.
According to the engineering team's modeling, Volt targets achieving commercial production levels of 100,000 barrels per day over the next year, positioning itself as a leading low-cost lithium producer.
Business Strategy and Risk Mitigation
Volt's comprehensive business model and strategic initiatives provide significant competitive advantages, particularly in fluctuating market conditions. The Company's phased scale-up approach minimizes financial risks and ensures a structured path to commercialization.
Incentive Programs for Employees
In line with its growth strategy, Volt has granted options to employees to purchase common shares under its stock option plan. These options, totaling 500,000, will foster long-term commitment and align employee interests with the Company's success.
About Volt Lithium
Volt Lithium Corp. is at the forefront of lithium development, aiming to become one of North America's first commercial producers of lithium hydroxide and lithium carbonate derived from oilfield brine. The Company leverages its expertise in hydrocarbon extraction technology to enhance operational efficiency while contributing to sustainable energy solutions.
Contact Information
For further inquiries, please contact:
Alex Wylie, President & CEO
T: +1.403.830.5811
E: info@voltlithium.com
Greg Foofat, Vice President, Investor Relations
T: +1.587.888.5213
E: info@voltlithium.com
Frequently Asked Questions
What is Volt Lithium's new production capacity?
Volt Lithium's new Field Unit can process over 200,000 litres (1,250 barrels) of oilfield brine per day, doubling its previous capacity.
Where is the Field Unit located?
The Field Unit is deployed in the Permian Basin, a strategic area for lithium extraction operations.
What is the timeline for lithium production?
Volt anticipates commencing direct lithium extraction operations during the third quarter of the forthcoming year.
How does Volt Lithium aim to achieve its production targets?
Volt plans to implement a modular design for its Field Unit, allowing the addition of processing modules and improved extraction efficiency.
What is Volt Lithium's overall business strategy?
Volt focuses on reducing costs and efficiency in lithium extraction while supporting sustainable energy transitions, positioning itself as a competitive producer in North America.
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