Volt Carbon Technologies Reaches 1,100 Cycles with Its High Energy Density Lithium Iron Phosphate / Li-Metal Battery

Rhea-AI Summary

Volt Carbon Technologies has achieved a significant milestone in battery technology, reaching 1,100 cycles with its proprietary Lithium Iron Phosphate / Li-metal (LFP) battery, retaining 80% capacity. The testing, conducted at their Guelph, Ontario facility, demonstrates substantial progress from the previously reported 800 cycles. The company's high-energy LFP technology addresses industry challenges by eliminating expensive nickel and cobalt materials while maintaining performance. This advancement positions the company for commercialization in electric vehicles, aerospace, and battery-powered devices markets.

Positive

• Achieved 1,100 cycles with 80% capacity retention in LFP battery testing
• Significant improvement from previously reported 800 cycles
• Technology eliminates need for expensive nickel and cobalt materials
• Successfully developed proprietary electrolyte for enhanced battery performance

Negative

• None.

News Market Reaction

+24.53%

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+24.53% News Effect

On the day this news was published, TORVF gained 24.53%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Calgary, Alberta--(Newsfile Corp. - October 28, 2024) - Volt Carbon Technologies Inc. (TSXV: VCT) (OTCQB: TORVF) ("Volt Carbon" or the "Company") is pleased to announce that, further to its last update on May 8, 2024, the Company has now reached 1,100 cycles in the testing of its proprietary Lithium Iron Phosphate / Li-metal (LFP) battery using its internally developed electrolyte.

Highlights
These batteries, manufactured at Volt Carbon's subsidiary, Solid Ultra Battery's ("SUB") facility in Guelph, Ontario, continue to show excellent performance, retaining 80% of their capacity after 1,100 cycles as show in Figure 1 below.
These results represent significant progress from the 800 cycles reported earlier this year and demonstrates the ongoing advancement of Solid Ultra Battery's high-energy LFP technology, positioning Volt Carbon to commercialize its innovative energy storage solutions.

Volt Carbon's high-energy LFP / Li-metal battery technology continues to address the industry-wide challenge of balancing cost-effectiveness with high performance. The breakthrough in cycle life further enhances the competitiveness of LFP / Li-metal chemistries for use in electric vehicles, aerospace, and battery-powered devices by eliminating the need for expensive nickel and cobalt materials.

Fig. 1: Li-Metal LFP Coin Cell, Charge/Discharge data, 2.5-4.0V, C/3, 25 °C

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9904/228007_8d09a91a1438482a_001full.jpg

Volt Carbon's CEO, V-Bond Lee, commented, "Our latest results mark a major milestone in our journey to revolutionize energy storage. Reaching 1,100 cycles reflects our team's commitment to pushing the boundaries of LFP / Li-metal battery technology. Our specially developed electrolyte has played a crucial role in ensuring the success of these results, and we look forward to advancing our technology even further in the coming months."

Next Steps
Volt Carbon will continue to enhance its LFP / Li-metal technology, with a goal of achieving 80% capacity retention and even higher cycle life in the next phase of development. Additionally, the Company is focused on scaling its battery production at the Guelph facility to meet increasing demand for its advanced energy storage solutions.

About Volt Carbon Technologies
Volt Carbon will continue to enhance its Li-metal LFP technology, with the goal of achieving 80% capacity retention and even higher cycle life in the next phase of development. Additionally, the Company is focused on scaling its battery production at the Guelph facility to meet increasing demand for its advanced energy storage solutions.

On behalf of the Board of Directors

Volt Carbon Technologies Inc.
V-Bond Lee, P. Eng.
CEO, President, Chairman of the Board and Director

Information Contact:
Email: info@voltcarbontech.com
Tel: (647-546-7049)

Neither 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 release.

FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, within the meaning of applicable securities legislation, concerning Volt's business and affairs. In certain cases, forward-looking statements can be identified by the use of words such as ''plans'', ''expects'' or ''does not expect'', "intends" ''budget'', ''scheduled'', ''estimates'', "forecasts'', ''intends'', ''anticipates'' or variations of such words and phrases or state that certain actions, events or results ''may'', ''could'', ''would'', ''might'' or ''will be taken'', ''occur'' or ''be achieved''.

These forward-looking statements are based on current expectations and are naturally subject to uncertainty and changes in circumstances that may cause actual results to differ materially. Although Volt believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that these expectations will prove to be correct. Such statements include statements with respect to: (i) management's belief it can develop a lithium (Li)-metal LFP battery to enhance energy density for this type of cathode; (ii) the Company's intention to significantly influence the competitiveness of batteries for electric vehicles and battery-powered devices by providing lower-cost alternatives through the elimination of nickel and cobalt; (iii) the Company's goal to achieve higher cycles and 80% capacity with its safe lithium metal battery technology; (iv) the Company's intentions to: (A) further develop and test its proprietary technology; and (B) develop and test its new proprietary composite electrolyte; (v) the ability of the upgraded the battery fabrication equipment at the Guelph facility to boost capacity to build and test pouch and coin cells; and (iv) the Company's goal to exceed the 800 cycle and 80% performance target required for potential use of its batteries in EVs. Forward-Looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. Any such forward-looking statements are expressly qualified in their entirety by this cautionary statement.

All of the forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on such forward-looking statements. Forward-Looking information is provided as of the date of this press release, and Volt assumes no obligation to update or revise them to reflect new events or circumstances, except as may be required under applicable securities legislation.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/228007

FAQ

What milestone did Volt Carbon Technologies (TORVF) achieve in October 2024?

Volt Carbon Technologies achieved 1,100 cycles in their Lithium Iron Phosphate / Li-metal battery testing, with 80% capacity retention.

How many cycles did Volt Carbon Technologies (TORVF) improve from their May 2024 report?

Volt Carbon Technologies improved from 800 cycles reported in May 2024 to 1,100 cycles in October 2024, showing a 300-cycle improvement.

What materials does Volt Carbon Technologies' (TORVF) LFP battery technology eliminate?

Volt Carbon Technologies' LFP battery technology eliminates the need for expensive nickel and cobalt materials.