Volt Resources Limited announced that it has entered into a Memorandum of Understanding with 24M Technologies, Inc. (24M) to collaborate on qualifying Volt's battery anode material and cathode conductive additive products for use in 24M's SemiSolid manufacturing platform. Under the terms of the MOU, subject to a successful determination of the Joint Development Agreement program by 24M, it will promote Volt as a preferred supplier for the LIB natural graphite anode and LIB cathode conductive additive to 24M licensees. The two companies have outlined in the MOU initial indicative pricing for LIB anode materials based on current market conditions. Volt has agreed to meet the future LIB natural graphite anode and LIB cathode conductive additive volume requirements of 24M's licensees. Within six months of execution of a binding graphite offtake agreement, 24M will evaluate an investment in Volt's US subsidiary, Volt Energy Materials LLC (VEM). Based in Cambridge, Massachusetts, US, 24M is solving the challenge of energy storage with the
invention of a SemiSolid LIB cell, a revolutionary technology. By upending the design of the battery cell, as well as how the batteries are made, 24M solves the critical, 25-year-old challenge associated with the world's preferred form of energy storage: reducing its cost while maintaining its strengths.