Volt Lithium (TSXV: VLT; OTCQB: VLTLF) has achieved a significant milestone in its journey to commercialize its direct lithium extraction technology. The company has scaled up its production capacity to 96,000 litres per day (L/d), representing a 100-fold increase in its processing capabilities.
The scale-up has shown lithium recovery rates of up to 99%, even with brine concentrations as low as 31 mg/L. This achievement confirms Volt's ability to extract lithium from oilfield brines, setting the stage for commercial operations in the third quarter 2024, when its first field unit will be deployed.
“The Permian Basin currently produces 19 million barrels of lithium-infused brine per day, making it one of the largest potential sources of lithium in the United States,” said Volt’s president & CEO Alex Wylie. “With the scaling-up of our field simulation centre, we have accelerated the company’s trajectory to becoming a significant North American lithium producer.”
“Volt is on a clear path to become a low-cost commercial producer of battery-grade lithium from oilfield brines in North America,” added COO of Volt Dave Kimery.
The Permian Basin in western Texas is identified as a key area for Volt's continuous operations, given its daily production and existing infrastructure. This infrastructure allows Volt to avoid significant capital costs related to drilling wells, building water management infrastructure, creating pipeline networks, and managing subsurface reservoirs.
By partnering with existing producers, Volt expects to achieve meaningful cash flow and production growth much sooner than operating independently.
Volt's scale-up has maintained a 99% lithium extraction rate and improved key operational aspects, including volume scale-up and extraction time improvements.
Volt aims to become North America's first commercial producer of lithium hydroxide and lithium carbonates from oilfield brine.
For more information, visit www.VoltLithium.com.
November 21, 2024
November 20, 2024
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