Volt Lithium Corp. (TSX-V: VLT, OTCQB: VLTLF, FSE: I2D)
(“
Volt” or the “
Company”) is
pleased to announce that the Company has secured strategic
technology collaborations with two research labs located at the
University of Alberta (“
U of A”) campus in
Edmonton, Alberta (collectively, the
“
Collaborations”). The Collaborations involve the
Advanced Water Research Lab (“
AWRL”) that is
supervised by Dr. Mohtada Sadrzadeh, Ph.D., P.Eng, and the lab of
Dr. Hongbo Zeng, Ph.D., P.Eng., of the U of A Chemical and
Materials Engineering Department (the “
Zeng Lab”).
“We are proud to collaborate with AWRL and the
Zeng Lab to help address the urgent problem of responsible water
management for the energy business today while expanding our access
to oilfield brines that offer an economic source of lithium for the
clean energy transition of tomorrow,” commented Alex Wylie,
President & CEO of Volt.
The Collaborations are designed to leverage
nanotechnology and water processing expertise to remove
contaminants from oilfield brine to be used for the Company’s
proprietary direct lithium extraction (“DLE”)
technology. Volt views the Collaborations as another component of
its advancing efforts to achieve commercial and economic extraction
of lithium from produced water. By establishing mutually beneficial
relationships with oil and gas companies, Volt gains access to
oilfield brines for lithium extraction purposes, while the oil and
gas producers can benefit from an economic and ESG-friendly
solution to derive value from their produced oilfield water. Volt
aims to provide innovative and novel approaches to responsible
lithium development in North America using Canadian-based research
and development.
Nanotechnology for Ultrafiltration of
Oilfield Brines
The AWRL conducts research and development of
high-performance materials, processes, and methods of water
recycling and reuse with the view to achieving sustainable
management of freshwater resources during industrial practices. Dr.
Sadrzadeh contributes within the U of A Department of Mechanical
Engineering to research and development, in collaboration with
academic, government, and industry partners, that is targeted to
support efficient and innovative next-generation water treatment
products and processes. Given AWRL’s expertise in nanofiltration
systems, Volt is aiming to secure an effective process for the
removal of contaminants from source brine to optimize water usage
and minimize process chemical usage, thereby reducing costs and
enabling any brine to be used as a source for our DLE
technology.
Fluid Processing to Concentrate Lithium
Chloride
Volt’s collaboration with AWRL also includes
work on the development of a fluid processing technology to
streamline the concentration of lithium chloride
(“LiCl”) to lithium hydroxide monohydrate
(“LHM”), which is the product
predominantly used by various industries today for a broad range of
lithium compounds and is a key component of high-capacity
lithium-ion batteries. A number of commercial technologies are
deployed today to concentrate lithium within lithium chloride to
generate LHM, including reverse osmosis. Volt’s research and
development with AWRL is designed to develop a technology that is
specifically tailored to concentrating lithium extracted from
oilfield brines. If successfully developed, this technology should
allow the Company to produce a highly concentrated product (also
called ‘eluate’), while simultaneously improving
the economics for our refining process to create LHM.
Using Nanotechnology to Streamline
Volt’s DLE Process
The Zeng Lab sits at the intersection of
chemistry, physics and nanotechnology, and is focused on complex
fluids, petroleum, oil sands and mineral processing, along with the
development and synthesis of nanomechanical tools and compounds
that impact the interaction between solids, water, oil and gas.
Drawing on the Zeng Lab’s expertise in nanotechnology compounds,
and its access to the Nanotechnology Research Centre at the U of A,
this Collaboration is focused on continuous efforts to enhance
Volt’s lithium extraction process to reduce operating costs
associated with Volt’s DLE technology. Enhancement examples include
operating cost improvements associated with reduced reagent use,
customizing brine conditions using filtration to increase LiCl
concentrations for Volt’s eluate, and leveraging the Collaboration
with AWRL to streamline the extraction process. Any advancements
achieved to Volt’s technology are expected to be incremental to the
successes of its pilot operations to date and ultimately lead to
improved operating efficiencies as the Company drives toward
commercial operations.
Establishment of a Permanent
Pilot
Volt is in the process of establishing a
permanent pilot that will enable the Company to test our
technologies in real-time, including those being advanced through
the Collaborations. Once established, Volt believes that the
permanent pilot will support the accelerated advancement to first
stage commercial operations.
About Volt
Volt Lithium Corp. is a technology and
ESG-focused company aiming to be North America’s first commercial
producer of LHM and lithium carbonates from oilfield brine. Our
strategy is to become a leading solutions provider for oil and gas
exploration and production companies facing increasing pressure to
responsibly and cost-effectively manage the water required and
produced in their operations. Volt intends to generate value for
shareholders by leveraging management’s hydrocarbon experience and
existing infrastructure to extract lithium from existing
hydrocarbon wells, negating the need to drill new wells, thereby
reducing capital costs, lowering risks and supporting the world’s
clean energy transition. With our proprietary DLE technology,
Volt’s approach to development is targeting the highest lithium
recoveries with the lowest costs, positioning us well for future
commercialization. We are committed to operating efficiently and
with transparency across all areas of the business staying focused
on creating long-term, sustainable shareholder value. Investors
and/or other interested parties may sign up for updates about the
Company’s continued progress on its website:
https://voltlithium.com/.
Contact Information
For Investor Relations inquiries or further
information, please contact:
Alex Wylie, President &
CEO awylie@voltlithium.com M:
+1.403.830.5811
Forward-Looking
Statements
This news release includes certain
“forward-looking statements” and “forward-looking information”
(collectively, “forward-looking statements”) within the meaning of
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, expect”,
“target”, “plan”, “forecast”, “may”, “would”, “could”, “schedule”
and similar words or expressions, identify forward-looking
statements. Statements, other than statements of historical fact,
may constitute forward-looking statements and include, without
limitation, statements about future exploration activities; the
anticipated efforts and effects of the Collaborations; access to
additional oilfield brines; the Company’s approach to responsible
lithium development; the Company’s goals of securing effective
processes for the removal of contaminants and the effects related
thereto; the expected results of the successful development of the
Company’s technology; expectations surrounding the Company’s
expected advancements in its technology from the pilot operations;
and expectations surrounding the Company’s advancements from the
permanent pilot to its first stage of commercial operations.
Such statements and information are based on the
current expectations of Volt’s management and are based on
assumptions, including but not limited to: the ability of the
Company to execute the anticipated effects of the Collaborations or
at all; the ability of the Company to execute its goals as
described herein or at all; the ability of the Company to achieve
the expected results of development of its technology as described
herein or at all; the ability of the Company’s to achieve the
expectations surrounding its permanent pilot and first stage of
commercial operations or at all; the price of copper, lithium and
other metals; costs of exploration and development; the estimated
costs of development of exploration projects; the ability to raise
financing if and when needed; Volt’s ability to operate in a safe
and effective manner and its ability to obtain financing on
reasonable terms, that the geological, metallurgical, engineering,
financial and economic advice that the Company has received is
reliable and are based upon practices and methodologies which are
consistent with industry standards. While the Company considers
these assumptions to be reasonable, these assumptions are
inherently subject to significant uncertainties and contingencies
and may prove to be incorrect. Additionally, there are known and
unknown risk factors which could cause the Company’s actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements contained herein. Known
risk factors include, among others: risks inherent in going from
pre-commercial operations to commercial operations; fluctuations in
commodity prices and currency exchange rates; uncertainties
relating to interpretation of well results and the geology,
continuity and grade of mineral deposits; uncertainty of estimates
of capital and operating costs, recovery rates, production
estimates and estimated economic return; inability to obtain
regulatory approvals in a timely manner or at all; the need for
cooperation of government agencies in the exploration and
development of properties and the issuance of required permits; the
need to obtain additional financing to develop properties and
uncertainty as to the availability and terms of future financing;
the possibility of delay in exploration or development programs or
in construction projects and uncertainty of meeting anticipated
program milestones; uncertainty as to timely availability of
permits and other governmental approvals; increased costs and
restrictions on operations due to compliance with environmental and
other requirements; increased costs affecting the metals industry
and increased competition in the metals industry for properties,
qualified personnel, and management.
Readers are cautioned not to place undue
reliance on these forward-looking statements as a number of
important risk factors and future events could cause the actual
outcomes to differ materially from the beliefs, plans, objectives,
expectations, anticipations, estimates, assumptions and intentions
expressed in such forward-looking statements. All of the
forward-looking statements made in this news release are qualified
by these cautionary statements and those made in Volt’s other
filings with the applicable securities regulators of Canada. The
Company disclaims any obligation to revise or update any such
forward-looking statements or to publicly announce the result of
any revisions to any of the forward-looking statements contained
herein to reflect future results, events or developments, except as
required by law.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this news release.
Grafico Azioni Volt Lithium (TSXV:VLT)
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