- Volt Resources (VRC) enters a memorandum of understanding (MoU) with 24M Technologies to collaborate on Volt’s graphite for use in 24M’s SemiSolid platform
- Under the MoU, 24M will promote Volt as a preferred supplier for lithium-ion battery (LIB) natural graphite anode and LIB cathode conductive additive
- Initial indicative pricing for the LIB material has been outlined with Volt agreeing to meet future volume requirements
- Based in Cambridge, Massachusetts, 24M is aiming to solve the challenge of energy storage via its SemiSolid platform
- Volt was up 5.66 per cent on the market with shares trading at 2.8 cents at 12:38 pm AEDT
Volt Resources (VRC) has entered a memorandum of understanding (MoU) with 24M Technologies to collaborate on Volt’s graphite for use in 24M’s SemiSolid platform.
Under the MoU, 24M will promote Volt as a preferred supplier for lithium-ion battery (LIB) natural graphite anode and LIB cathode conductive additive to its licensees.
Initial indicative pricing for the LIB material has been outlined with Volt agreeing to meet future volume requirements.
The MoU is subject to a successful determination of the joint development agreement program by 24M.
Within six months of executing a binding graphite offtake agreement, 24M will evaluate an investment in Volt Energy Materials, Volt’s US Subsidiary.
Based in Cambridge, Massachusetts, 24M is aiming to solve the challenge of energy storage via its SemiSolid platform.
It has signed licence agreements with Fujifilm Corporation, Volkswagen Group and Kyocera Corporation.
“We are excited to expand our relationship with Volt Energy Materials LLC and look forward to optimising their low-cost, high-quality graphite for our SemiSolid manufacturing platform,” 24M President and CEO Naoki Ota said.
“We believe, when fully optimised, the spheronised graphite has the potential to lower the cost and improve the performance of SemiSolid lithium-ion cells and through Volt provide a low-cost, stable supply for our license partners.”
Volt was up 5.66 per cent on the market with shares trading at 2.8 cents at 12:38 pm AEDT.