Volt Lithium Successfully Installs Field Unit in Permian Basin and Scales-Up Production Capacity to Over 200,000 Litres (1,250 Barrels) per Day
Volt Lithium Corp. (VLTLF) has successfully deployed and installed its first proprietary direct lithium extraction (DLE) field unit in the Permian Basin, Texas. The company has commenced function-testing, paving the way for initial lithium production. Notably, Volt has scaled up the field unit's capacity to process over 200,000 litres (1,250 barrels) of oilfield brine per day, more than doubling its previous capabilities.
This achievement marks a critical milestone in Volt's strategy to become one of North America's first commercial producers of lithium from oilfield brine. The company is on track to commence DLE operations in Q3 2024. Volt's modular field unit design allows for cost-effective and efficient scale-up through various methods, with plans to reach commercial production of 100,000 barrels per day within the next year.
Volt's phased approach, extensive testing, and strategic partnerships position the company to mitigate project execution risk while accelerating the timeline to full-scale commercialization. This strategy also minimizes capital at risk and allows for additional validation of Volt's proprietary DLE technology.
Volt Lithium Corp. (VLTLF) ha progettato e installato con successo la sua prima unità di estrazione diretta di litio (DLE) in campo, nel Permian Basin, Texas. L'azienda ha avviato i test di funzionamento, aprendo la strada per la produzione iniziale di litio. In particolare, Volt ha aumentato la capacità dell'unità di campo per elaborare oltre 200.000 litri (1.250 barili) di salamoia da giacimento petrolifero al giorno, più del doppio delle capacità precedenti.
Questo traguardo rappresenta una pietra miliare fondamentale nella strategia di Volt per diventare uno dei primi produttori commerciali di litio da salamoia da giacimento petrolifero in Nord America. L'azienda è sulla buona strada per avviare le operazioni DLE nel terzo trimestre del 2024. Il design modulare dell'unità di campo di Volt consente un'ampliamento cost-effective ed efficiente attraverso vari metodi, con piani per raggiungere una produzione commerciale di 100.000 barili al giorno entro l'anno prossimo.
L'approccio graduale di Volt, i test estesi e le partnership strategiche posizionano l'azienda per mitigare il rischio di esecuzione del progetto, accelerando al contempo la tempistica per la commercializzazione su vasta scala. Questa strategia riduce anche il capitale a rischio e consente ulteriori validazioni della tecnologia DLE proprietaria di Volt.
Volt Lithium Corp. (VLTLF) ha implementado e instalado con éxito su primera unidad de extracción directa de litio (DLE) en el Permian Basin, Texas. La compañía ha comenzado las pruebas de funcionamiento, allanando el camino para la producción inicial de litio. Notablemente, Volt ha aumentado la capacidad de la unidad de campo para procesar más de 200,000 litros (1,250 barriles) de salmuera de campo petrolero por día, más del doble de sus capacidades anteriores.
Este logro marca un hito crítico en la estrategia de Volt para convertirse en uno de los primeros productores comerciales de litio a partir de salmuera de campo petrolero en América del Norte. La empresa está en camino de comenzar las operaciones DLE en el tercer trimestre de 2024. El diseño modular de la unidad de campo de Volt permite una ampliación rentable y eficiente a través de varios métodos, con planes para alcanzar una producción comercial de 100,000 barriles por día en el próximo año.
El enfoque gradual de Volt, las pruebas extensivas y las asociaciones estratégicas posicionan a la compañía para mitigar el riesgo de ejecución del proyecto mientras aceleran la línea de tiempo hacia la comercialización a gran escala. Esta estrategia también minimiza el capital en riesgo y permite una validación adicional de la tecnología DLE patentada de Volt.
Volt Lithium Corp. (VLTLF)는 텍사스 퍼미안 분지에서 첫 번째 독점 직접 리튬 추출(DLE) 현장 장치를 성공적으로 배치 및 설치했습니다. 회사는 기능 테스트를 시작하여 초기 리튬 생산을 위한 길을 열었습니다. 특히, Volt는 매일 200,000리터(1,250배럴)의 유전 염수를 처리할 수 있는 현장 장치의 용량을 2배 이상 확장했습니다.
이번 성과는 Volt가 북미에서 유전 염수에서 리튬을 상업적으로 생산하는 첫 번째 기업 중 하나가 되기 위한 전략에서 중요한 이정표가 됩니다. 이 회사는 2024년 3분기에 DLE 운영을 시작할 계획입니다. Volt의 모듈형 현장 장치 설계는 다양한 방법을 통해 비용 효율적이고 효율적인 확장을 가능하게 하며, 내년까지 하루 100,000배럴의 상업 생산에 도달할 계획을 가지고 있습니다.
Volt의 단계적 접근 방식, 광범위한 테스트 및 전략적 파트너십은 프로젝트 실행 위험을 완화하는 동시에 전체 상업화 일정 단축을 가능하게 합니다. 이 전략은 자본 위험을 최소화하고 Volt의 독점 DLE 기술에 대한 추가 검증을 허용합니다.
Volt Lithium Corp. (VLTLF) a déployé et installé avec succès sa première unité d'extraction directe de lithium (DLE) propriétaire sur le Bassin permien, Texas. L'entreprise a commencé les tests de fonctionnement, ouvrant ainsi la voie à une production initiale de lithium. Notamment, Volt a augmenté la capacité de l'unité de terrain pour traiter plus de 200 000 litres (1 250 barils) de saumure pétrolière par jour, plus du double de ses capacités précédentes.
Cette réalisation marque une étape cruciale dans la stratégie de Volt pour devenir l'un des premiers producteurs commerciaux de lithium à partir de saumure pétrolière en Amérique du Nord. L'entreprise est en bonne voie pour commencer les opérations DLE au troisième trimestre 2024. La conception modulaire de l'unité de terrain de Volt permet une montée en échelle rentable et efficace grâce à diverses méthodes, avec pour objectif d'atteindre une production commerciale de 100 000 barils par jour dans l'année à venir.
L'approche par étapes de Volt, ses tests approfondis et ses partenariats stratégiques positionnent l'entreprise pour atténuer le risque d'exécution du projet tout en accélérant le calendrier pour une commercialisation à grande échelle. Cette stratégie minimise également le capital à risque et permet une validation supplémentaire de la technologie DLE propriétaire de Volt.
Volt Lithium Corp. (VLTLF) hat erfolgreich seine erste proprietäre Direktlithium-Extraktions(DLE)-Feldanlage im Permian Basin, Texas, bereitgestellt und installiert. Das Unternehmen hat mit Funktionstests begonnen, um den Weg für die anfängliche Lithiumproduktion zu ebnen. Besonders hervorzuheben ist, dass Volt die Kapazität der Feldanlage auf über 200.000 Liter (1.250 Barrel) Ölbrine pro Tag erhöht hat, was mehr als eine Verdopplung der bisherigen Kapazität darstellt.
Dieser Erfolg stellt einen entscheidenden Meilenstein in Volts Strategie dar, einer der ersten kommerziellen Lithiumproduzenten aus Ölbrine in Nordamerika zu werden. Das Unternehmen ist auf einem guten Weg, die DLE-Operationen im dritten Quartal 2024 zu beginnen. Das modulare Design der Feldanlage von Volt ermöglicht eine kostenwirksame und effiziente Skalierung durch verschiedene Methoden, mit dem Ziel, innerhalb des nächsten Jahres eine kommerzielle Produktion von 100.000 Barrel pro Tag zu erreichen.
Volts schrittweiser Ansatz, umfassende Tests und strategische Partnerschaften positionieren das Unternehmen zur Minderung des Projektrisikos und zur Beschleunigung des Zeitplans für die kommerzielle Umsetzung im großen Maßstab. Diese Strategie minimiert auch das kapitalbezogene Risiko und ermöglicht eine weitere Validierung der proprietären DLE-Technologie von Volt.
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- Deployed and installed its first proprietary direct lithium extraction (“DLE”) U.S. field unit (“Field Unit”)
- Commenced function-testing of the Field Unit, paving the way for first lithium production
- Scaled-up Field Unit by more than two times to process over 200,000 litres (1,250 barrels) of oilfield brine per day on location in West Texas, USA
CALGARY, Alberta, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Volt Lithium Corp. (TSXV: VLT | OTCQB: VLTLF I FSE: I2D) ("Volt" or the "Company") announces the successful deployment, installation and commenced function-testing of its first Field Unit located in the Permian Basin in Texas, paving the way for first lithium production. The Company is also pleased to announce that the Field Unit will be capable of processing over 200,0001 litres (1,250 barrels) of oilfield brine per day, representing a two-times scale-up from Volt’s previous processing capabilities of 96,0001 litres (600 barrels) per day, as announced in its July 17, 2024, press release.
“Our team is thrilled to share that we have successfully deployed, installed and commenced function-testing of the Field Unit on-site at our strategic partner’s Permian Basin location in West Texas. The introduction of this initial Field Unit marks the achievement of another critical milestone of our strategy to become one of North America’s first commercial producers of lithium from oilfield brine,” commented Alex Wylie, President & CEO of Volt Lithium. “Volt has reached a critical inflection point with this achievement and is well positioned to commence DLE operations in the field during Q3 2024, which aligns with our previous guidance. We look forward to providing updates as we continue to progress.”
U.S. Field Unit and Future Commercial Operations
Volt deployed and completed installation of its Field Unit in the Permian Basin in August, 2024, which represents a 1:83 scale to future commercial production. Following the installation, the Company commenced function-testing of the Field Unit, positioning Volt on a clear path to full-scale commercialization in the near-term.
Building on the success of Volt’s previous scale-up efforts at its field simulation centre in Calgary, Alberta (the “Field Simulation Centre”), the Company developed this next generation Field Unit, capable of processing in excess of 200,000 litres (1,250 barrels) per day of oilfield brine. Volt’s Field Unit is modular and provides the Company with the ability to cost-effectively and efficiently scale-up further to process commercial levels of brine through the following methods:
a) Adding modules to increase processing capacity;
b) Reducing lithium extraction time to increase volumes; and
c) Implementing larger extraction modules.
Based on the detailed historical modelling completed by the Company’s engineering team, Volt will continually scale-up its initial field unit over the next year to achieve commercial production of 100,000 barrels per day, positioning the Company as a near-to-market, low-cost and full-scale commercial producer.
Volt’s business model, strategy and ability to execute provide clear competitive advantages, regardless of the macro business environment. Volt’s phased scale-up approach, extensive testing at its Field Simulation Centre and strategic investment partnership, as well as its low operating cost model, positions the Company to mitigate project execution risk while accelerating the timeline to full-scale commercialization. In addition, this approach minimizes Volt’s capital at risk and allows for additional validation of the Company’s proprietary DLE technology prior to full-scale commercialization.
Option Grant
Volt announces the grant of an aggregate of 500,000 options (the "Options") to new employees of the Company to purchase 500,000 commons shares (the “Shares”) in the capital of the Company pursuant to Volt’s stock option plan. The Options vest over a six month period and are exercisable at
These grants represent compensation to the to the individuals and consultants for their respective service to the Company and as an incentive mechanism to foster and align the interest of such persons in the long-term success of Volt.
Qualified Person’s Statement
Scientific and technical information contained in this press release has been reviewed and approved by Doug Ashton, P.Eng, and Meghan Klein, P.Eng of Sproule Associates Limited, each of whom are qualified persons within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Mr. Ashton and Ms. Klein consent to the inclusion of the data in the form and context in which it appears.
About Volt
Volt is a lithium development and technology company aiming to be one of North America’s first commercial producers of lithium hydroxide and lithium carbonates from oilfield brine. Our strategy is to generate value for shareholders by leveraging management’s hydrocarbon experience and existing infrastructure to extract lithium deposits from existing wells, thereby reducing capital costs, lowering risks and supporting the world’s clean energy transition. With four differentiating pillars, and a proprietary Direct Lithium Extraction (“DLE”) technology and process, Volt’s innovative approach to development is focused on allowing the highest lithium recoveries with lowest costs, positioning us well for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply 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
T: +1.403.830.5811
E: info@voltlithium.com
Or
Greg Foofat, Vice President, Investor Relations
T: +1.587.888.5213
E: info@voltlithium.com
Forward Looking Statements
This news release includes certain “forward-looking statements” and “forward-looking information” within the meaning of applicable Canadian securities laws. When used in this news release, the words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”, “will”, “would”, “could”, “schedule” and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation, information with respect to the terms of the operational milestone, Volume Scale-up. Extraction Time Improvements and Continuous Processing vs Batch Processing, the deployment of the Field Unit in the Permian Basin, the production of battery grade lithium by the Field Unit, and the commercial production of lithium from oilfield brine. With respect to the forward-looking information contained in this press release, the Company has made numerous assumptions. 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 information contained herein including those known risk factors outlined in the Company’s annual information form dated February 29, 2024 and (final) short form base shelf prospectus dated July 20, 2023. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information 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 press release.
1 The figures presented assume continuous production with no downtime for equipment maintenance or failure.
FAQ
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