Introducing Volt Lithium’s Groundbreaking Collaboration
Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF | FSE: I2D) is embarking on an innovative journey through a new agreement with Wellspring Hydro that promises to reshape lithium extraction from one of the most significant oil formations in the United States. This collaboration, supported by generous funding from the state, is designed to leverage technology that could bolster security in critical minerals essential for modern industries.
Funding and Technology Deployment
The initial phase of this partnership includes a substantial $500,000 investment, with an expectation of an additional $2,000,000 earmarked for equipment and testing of Volt’s proprietary direct lithium extraction (DLE) technology by early 2025. This financial backing aims to prepare Volt’s technology for operational success in the Bakken formation, which produces about 2 million barrels of lithium-infused oilfield brine each day.
A Strategic Opportunity for North America
The extraction of lithium from the Bakken brine not only represents a technological advancement; it enhances North America's critical mineral resources. As industries continue the transition towards renewable energy, securing local lithium supplies will play a vital role in supporting energy and manufacturing sectors.
Comments from Leadership
Alex Wylie, President & CEO of Volt, expressed enthusiasm about this partnership, stating, "We are excited to be collaborating with Wellspring and the State of North Dakota to trial Volt’s DLE field unit in the Bakken formation. This initiative further showcases our commitment to leveraging technology in multiple significant oil-producing regions of the U.S."
Details on the North Dakota Field Study
Under the agreement, the State of North Dakota has contributed a notable $450,000 grant to facilitate the acquisition of equipment and enable testing procedures essential for establishing the viability of the DLE technology in field operations. An anticipated report from this initial phase could yield an additional $50,000 for further development, demonstrating the commitment to exploring lithium extraction possibilities.
The Role of Wellspring Hydro
Wellspring Hydro is a key player in this endeavor, working alongside Volt in harnessing the Bakken oilfield brine. As a company devoted to transforming oilfield byproducts into valuable resources, Wellspring's mission aligns perfectly with Volt’s innovative approach to resource management, underscoring the importance of sustainability in technology deployment.
Expanding Volt’s Asset Portfolio
This North Dakota initiative complements Volt's existing operations in the Permian Basin and Keg River formation, further strengthening its asset base. The capabilities demonstrated through the Bakken partnership contribute significant momentum towards establishing lithium as a competitive resource in the evolving energy market.
Volt’s Vision for the Future
Volt Lithium aims to pioneer lithium production from oilfield brine, aiming to become one of North America’s initial commercial producers of lithium carbonates. With a focused strategy capitalizing on management’s extensive hydrocarbon experience, the company ventures to create shareholder value while advancing the clean energy transition.
A Commitment to Transparency and Efficiency
The company’s proprietary Direct Lithium Extraction (DLE) technology is designed to maximize lithium recovery while minimizing costs, ensuring an efficient process that aims to yield sustainable shareholder value over time. Volt remains committed to transparency and maintaining a sharp focus on its operational efficiencies.
Contact Information and Investor Relations
For inquiries related to investor relations or further information, please reach out to:
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 the purpose of the agreement between Volt Lithium and Wellspring Hydro?
The agreement focuses on deploying Volt’s direct lithium extraction technology to assess its viability using lithium-infused oilfield brine from the Bakken formation.
How much funding has Volt received for this study?
Volt has secured an initial $450,000 grant from the State of North Dakota, with additional funding expected up to $2,000,000 in early 2025 for this study.
What does Volt Lithium aim to achieve with this technology?
Volt intends to become a commercial producer of lithium carbonates from oilfield brine, enhancing North America's critical mineral security while reducing extraction costs.
Why is lithium important for North America?
Lithium is crucial for the production of batteries and other technologies that enable the transition to renewable energy sources, making local supply essential.
How can investors stay updated on Volt Lithium’s progress?
Interested parties can sign up for updates on Volt Lithium's progress through the company’s website.
