- Volt Lithium (TSXV:VLT) has installed its first field unit in Texas’ Permian Basin, paving the way to production
- The field unit is said to be capable of processing more than 200,000 litres (1,250 barrels) of oilfield brine per day, representing a two-times scale-up from Volt’s previous processing capabilities of 96,000 litres (600 barrels) a day
- Volt has reached a critical inflection point and is positioned to commence direct lithium extraction operations in the field during Q3 2024
- Volt Lithium Corp. opened trading at $0.46 per share
Volt Lithium (TSXV:VLT) has installed its first field unit located in Texas’ Permian Basin, paving the way to production.
The field unit is said to be capable of processing more than 200,000 litres (1,250 barrels) of oilfield brine per day, representing a two-times scale-up from Volt’s previous processing capabilities of 96,000 litres (600 barrels) a day.
“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,” Volt Lithium’s president and CEO, Alex Wylie said in a news release. “Volt has reached a critical inflection point with this achievement and is well positioned to commence direct lithium extraction operations in the field during Q3 2024, which aligns with our previous guidance. We look forward to providing updates as we continue to progress.”
Earlier this month, Volt successfully deployed and completed the installation of its field unit in the Permian Basin, a model that is scaled at 1:83 compared with future commercial production. After the installation, the company began function-testing the unit, with the goal of using it for full-scale commercialization in the near term.
Building on the success of its previous scale-up efforts at the field simulation centre in Calgary, Volt developed this next-generation field unit, which is capable of processing more than 200,000 litres (1,250 barrels) of oilfield brine per day. The unit’s modular design allows Volt to efficiently and cost-effectively scale up to process commercial volumes of brine.
Guided by detailed historical modeling conducted by its engineering team, Volt plans to continuously scale up this initial field unit over the next year to achieve commercial production levels of 100,000 barrels per day. The company aims to position itself as a near-market, low-cost, full-scale commercial producer.
Lithium is a crucial component in batteries that power electric vehicles, and this development coincides with the Canadian federal government’s decision to impose tariffs on Chinese-made electric vehicles, as well as aluminum and steel from China, to safeguard domestic manufacturing.
Prime Minister Justin Trudeau announced in Halifax on Monday that Canada will implement a 100 per cent tariff on electric vehicles, along with 25 per cent tariffs on aluminum and steel. The United States has already quadrupled import tariffs on Chinese-made EVs to 100 per cent and also hiked tariffs on other Chinese products, including lithium-ion batteries.
Volt Lithium Corp. is a lithium development and technology company striving to become one of North America’s first commercial producers of lithium hydroxide and lithium carbonates extracted from oilfield brine.
Volt Lithium Corp. (TSXV:VLT) opened trading more than 8 per cent higher at $0.46 per share.
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(Top image Volt Lithium Corp.)