Volt Resources update on non-dilutive funding programs

Volt Resources Limited (ASX: $VRC) has submitted four non-dilutive funding program proposals with the potential to deliver over A$150 million to the Company. The programs are part of Volt's strategy to establish itself as a global producer and supplier of flake and processed graphite to customers in North America and Europe.

Executive commentary on funding progress

Volt's Executive Chairman, Asimwe Kabunga, emphasized the company's strong progress in leveraging the increased demand for graphite and markets seeking to diversify supply chains to support the EV industry. He highlighted the strategic positioning of Volt with two mines representing some of the world's largest supplies of graphite and the progression of the planned graphite anode manufacturing facility in Alabama, US. Managing Director and CEO, Prashant Chintawar, expressed satisfaction with the progress and submission of high-quality, complex, and multi-party bids for competitive non-dilutive funding awards, thanking various partners for their assistance in executing the company's strategy.

Summary of Volt Resources announcement

Volt Resources has strategically submitted proposals for non-dilutive funding programs, aiming to secure over A$150 million to support its ambition of becoming a market leader in the graphite industry. The company plans to capitalize on the increased demand for graphite, driven by the need for localisation and the anticipated demand-supply gap resulting from Chinese export control restrictions. With a focus on building an integrated graphite business, Volt is progressing towards establishing itself as a global producer and supplier of graphite to key markets in North America and Europe. The potential funding pipeline exceeding A$150 million could significantly improve and accelerate the company's growth, aligning with its corporate strategy and long-term goals.