Volt Lithium Reaches Key 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 major achievement comes as the company gears up for its initial lithium production, marking an important advancement in its operations.
Improved Production Capabilities in the Permian Basin
The newly installed Field Unit can process over 200,000 litres (1,250 barrels) of oilfield brine each day. This is a significant increase from Volt’s earlier capacity of 96,000 litres (600 barrels) per day. This enhancement underscores Volt's dedication to scaling production and optimizing efficiency in its lithium extraction processes.
Function Testing and Production Timeline
At present, the Field Unit is undergoing function testing, a crucial step before starting lithium production. Alex Wylie, President & CEO of Volt, expressed excitement about this development, noting that the company is well-prepared to begin DLE operations in the field, in line with its expected production timeline.
Plans for Future Commercial Operations and Scaling Up
The installation of the Field Unit in the Permian Basin represents a strategic move toward full-scale commercialization. With ongoing testing, Volt aims to thoroughly validate its proprietary DLE technology, ensuring both efficiency and reliability for future operations.
Innovative Processing Techniques
Volt's new Field Unit is designed to be modular, providing both economic and operational flexibility. The company has laid out several strategies to enhance production capacity:
- Incorporating additional modules to increase processing capacity.
- Shortening lithium extraction time to boost production volumes.
- Utilizing larger extraction modules.
According to the engineering team's projections, Volt aims to reach commercial production levels of 100,000 barrels per day within the next year, positioning itself as a leading low-cost lithium producer.
Business Strategy and Risk Management
Volt's comprehensive business model and strategic initiatives offer significant competitive advantages, especially in fluctuating market conditions. The company’s phased scale-up strategy helps minimize financial risks while ensuring a structured pathway to commercialization.
Employee Incentive Programs
In support of its growth strategy, Volt has granted options to employees for purchasing common shares under its stock option plan. These options, totaling 500,000, are intended to promote long-term commitment and align employee interests with the success of the company.
About Volt Lithium
Volt Lithium Corp. is a leader in lithium development, with the goal of becoming one of North America's first commercial producers of lithium hydroxide and lithium carbonate sourced from oilfield brine. The company leverages its expertise in hydrocarbon extraction technology to improve operational efficiency while contributing to sustainable energy solutions.
Contact Information
For further inquiries, 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 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, effectively doubling its previous capacity.
Where is the Field Unit located?
The Field Unit is situated in the Permian Basin, a key area for lithium extraction activities.
What is the timeline for lithium production?
Volt plans to begin direct lithium extraction operations in the third quarter of the upcoming year.
How does Volt Lithium plan to achieve its production targets?
Volt intends to utilize a modular design for its Field Unit, which will allow for the addition of processing modules and enhanced extraction efficiency.
What is Volt Lithium's overall business strategy?
Volt focuses on minimizing costs and maximizing efficiency in lithium extraction while supporting sustainable energy transitions, positioning itself as a competitive producer in North America.
