Mr. V-Bond Lee reports

VOLT CARBON TECHNOLOGIES AND CHARGE CCCV LLC JOINTLY ANNOUNCE SUCCESSFUL TEST RESULTS OF TWO KEY BATTERY TECHNOLOGIES

With reference to the prior news release dated Nov. 17, 2023, regarding the announcement of a strategic relationship, Volt Carbon Technologies Inc. and Charge CCCV LLC (C4V) have released successful test results from two collaborative efforts: Volt's proprietary lithium metal electrolyte paired with C4V's advanced BMLMP cathodes and Volt's dry-separated graphite paired with C4V's green anode technology. These results represent a positive step forward in the shared mission to advance sustainable, high-performance energy storage solutions.

Volt's electrolyte paired with C4V's BMLMP cathodes

Volt's proprietary lithium metal electrolyte was tested in combination with C4V's advanced BMLMP (biomineralized lithium mixed metals phosphate) cathodes. This pairing achieved exceptional results, including enhanced energy density that outperformed conventional lithium iron phosphate (LFP) technologies. Coin cells built using this combination demonstrated stable capacity retention beyond 650 cycles with minimal capacity fade, showcasing the reliability and durability of this innovative solution.

These results highlight the potential of Volt's proprietary electrolyte to optimize the performance of C4V's BMLMP cathodes, creating next-generation solutions for high-energy-density applications. Figure 1 (shown in the original version of this news release) provides a detailed representation of the capacity retention performance, emphasizing the stability and longevity of the tested combination. C4V's SP Series technology is expected to deliver close to 300 wh/kg (watt hours per kilogram) with BMLMP cathode, achieving industry leading energy density without any cobalt or nickel.

Volt's dry-separated graphite paired with C4V's green anode technology

Graphitic rock from Green Battery Minerals Inc.'s (TSX-V: GEM) Berkwood deposit was processed using Volt's proprietary dry separation technology at its Scarborough, Ont., facility. The refined material was then integrated into C4V's green anode process to produce battery-grade anode electrodes. Performance testing demonstrated a specific discharge capacity of 363.7 mAh/g (0.01 volt to 1.0 V at 0.05 C), with a first-cycle efficiency (FCE) of 93.6 per cent. These results highlight the superior quality and sustainability of Volt's natural graphite compared with synthetic alternatives.

The results validate Volt's dry-separated graphite as a sustainable and potentially scalable material for energy storage. Figure 2 shown in the original version of this release illustrates the charge and discharge profiles of coin cells utilizing Volt's graphite processed through C4V's green anode technology, demonstrating the excellent compatibility and performance of the materials.

Strategic relationship impact

These results build on the foundation of the November, 2023, announcement of a strategic relationship between Volt Carbon and C4V, showcasing the strength of their collaboration. Volt's innovative dry separation process eliminates the need for chemical purification, significantly reducing the environmental footprint of graphite production. Combined with C4V's green anode and BMLMP cathode technologies, these advancements aim to set a new standard in sustainable, high-performance battery materials.

Looking ahead, Volt and C4V are advancing to pouch cell development with the ultimate goal to scale these two technologies for larger-format batteries. The next steps include transitioning from coin cell testing to pouch cell testing, optimizing production processes to ensure scalability, and refining the integration of these technologies for use in electric vehicles, grid storage, and other applications requiring high energy density and reliability. The two companies are also exploring opportunities to expand their collaboration, leveraging their combined expertise to deliver cutting-edge, eco-friendly energy storage solutions.

V-Bond Lee, chief executive officer of Volt Carbon Technologies, stated: "These test results demonstrate the incredible potential of our two key technologies -- dry-separated graphite and proprietary electrolyte -- when paired with C4V's advanced green anode and BMLMP cathode technologies. This represents a positive step forward as we build on our strategic relationship with C4V to deliver sustainable, high-performance energy storage solutions, and we are excited to advance to larger-format battery testing."

Clifford Olin, CBO of Charge CCCV LLC, added: "We continue to be pleased with Volt Carbon's progress through our supply chain qualification process and the promising results bode well for our collaboration. C4V's work with Volt Carbon supports our mission and vision to bring transcendent lithium-ion battery technologies that are scalable to the commercial market as we make energy storage as clean, green and affordable as possible for everyone."

About Volt Carbon Technologies Inc.

Volt Carbon Technologies is a publicly traded company focused on advancing carbon science, with a strong emphasis on energy storage solutions and green energy innovation. The company holds strategic mining claims across Ontario, Quebec and British Columbia, Canada. Volt Carbon operates a state-of-the-art battery fabrication facility in Guelph, Ont., and a dedicated carbon research facility in Scarborough, Ont.

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