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Calgary, Alberta, Canada, May 05, 2022 (GLOBE NEWSWIRE) — Volt Carbon Technologies Inc. (“Volt“or the”Company”) (TSX-V: VCT), is pleased to announce that it recently opened a lithium-ion battery research and development facility in Guelph, Ontario (the “R&D Facility”) and its Solid Ultrabattery Inc. division (“Ultrabattery”) successfully builds the first batch of 8-layer lithium-ion pocket cells using NMC811 cathode chemistry combined with a graphite anode (the “Pocket Cells”). The NMC811 chemistry is currently one of the most advanced formulations of Nickel Manganese Cobalt (NMC) cathodes available on the market for the development of lithium-ion batteries and is considered an alternative in the scale-up of several platforms of electric vehicles.
Preliminary results of internal 30 charge/discharge cycle testing of these pouch cells are shown in Figure 1 below. It was observed that the pocket cell retention capacity remained high during these initial cycles.
Figure 1: Life cycle 25ﹾVS
Figure 2 below illustrates the results of internal testing of the charge/discharge cycle against voltage and capacitance and provides a preliminary indication that the pouch cells perform as expected for this type of chemistry.
Figure 2: Voltage Profile
The company will continue cycle testing the sachet cells until overall performance can be quantified over significantly higher cycle counts and charge/discharge rates. At this time, the results of the Pouch Cell tests have not been independently verified. Figure 3 below is an image of one of the pocket cells that was manufactured and tested in-house at the R&D center.
Figure 3: Solid UltraBattery 8-layer pocket cell
V-Bond Lee, CTO and Director of Volt said, “I am excited to see the results of preliminary testing of our first 8-layer pocket cells. Building multilayer lithium-ion batteries is a big step for our team and requires our labs to have the cleanliness, expertise, and processes capable of this type of manufacturing. It is a good precursor for the construction of our solid electrolyte batteries later this year, which are manufactured with similar processes. I am very proud of our team and of this achievement in such a short time.
The Company also wishes to announce that it has granted a total of 300,000 options to a consultant of the Company, pursuant to the Company’s stock option plan. The options have an exercise price of $0.12 per common share, expire May 3, 2027 and are subject to TSX Venture Exchange approval.
The facility at 590 Hanlon Creek Blvd in Guelph has been fully operational since December 2021. Since then, the company has begun to build its resources and engineering capabilities in battery research, development and engineering as it was attempting to validate its solid electrolyte battery technology for commercialization. The company plans to continue building and optimizing its battery designs with the goal of developing high-energy-density solid-state batteries that exceed current industry standards.
On behalf of the Board of Directors
Volt Carbon Technologies Inc.
Dr. William Pfaffenberger, Chairman of the Board, CEO and President
Tel: (250) 381-6181
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FORWARD-LOOKING STATEMENTS: This press release contains forward-looking statements, within the meaning of applicable securities laws, regarding the business and affairs of Volt. In some cases, forward-looking statements can be identified by the use of words such as ”plans”, ”expects” or ”does not expect”, ”intends” ” budget”, ”planned”, ”estimates”, ”plans”, ”intends”, ”anticipates” or variations of these words and expressions or declares that certain actions, events or results ”may”, ”could”, ”would”, ”might” or ”would”, ”occur” or ”would be achieved”.
These forward-looking statements are based on current data expectations, and are naturally subject to uncertainties and changes in circumstances which could cause actual results to differ materially. Although Volt believes that the expectations expressed in these forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. These statements include statements regarding: (I) youhe The company’s plan for quantativey the overall performance of the Pouch Cells with continuous testing over significantly higher cycle counts and charge/discharge rates; and (ii) the Company intention build solid electrolyte batteries later this year. Statements of past performance should not be construed as an indication of future performance. Forward-looking statements involve significant risks and uncertainties, should not be construed as guarantees of future performance or results, and will not necessarily be precise indications of whether or not such results will be achieved. A number of factors, including those discussed above, could cause actual results to differ materially from the results discussed in the forward-looking statements. These forward-looking statements are expressly qualified in their entirety by this cautionary statement.
All forward-looking statements made in this press release are qualified by these cautionary statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking information is provided as of the date of this press release, and Volt undertakes no obligation to update or revise it to reflect new events or circumstances, except as required by applicable securities laws.