How Is Volt Resources Securing US DoE Grant for Graphite Anode Production?
Volt Resources Advances in Securing US Department of Energy Grant for Graphite Anode Production
Volt Resources Limited (ASX: VRC), a leading graphite producer and developer, is on the verge of a significant leap in its business strategy. The company is currently pursuing a substantial grant from the US Department of Energy (DOE) to accelerate its transformation into an integrated natural graphite anode producer.
Transitioning from Junior Miner to Anode Producer
Volt Resources has shifted its focus from junior mining to becoming a key player in the natural graphite anode market. This transition is marked by its active pursuit of the DOE grant, which aims to bolster the US battery supply chain under the Bipartisan Infrastructure Law (BIL).
DOE Grant Program Overview
In November 2023, the DOE announced a US$3. 5 billion grant program under the BIL. This initiative targets various areas, including the commercial-scale domestic production of battery anodes and cathodes.
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The program is part of a broader US$7 billion investment in the battery supply chain over five years.
Seeking Over US$100 Million in Non-Dilutive Funding
Volt Resources has submitted a Concept Paper (Step 1 of the proposal submission) on January 9, 2024, requesting over US$100 million in grants. This funding is intended for the design, construction, and commissioning of its planned 10,250 tonnes per annum (tpa) integrated natural graphite anode powder plant in the US.
Broad Consortium Support
To strengthen its grant proposal, Volt has formed a consortium comprising customers, a manufacturing technology partner, an economic development authority, an engineering company, and community organizations.
Securing Market Demand
Volt has already secured Letters of Support for the purchase of over 9,000 tpa of Anode Powder from leading battery producers, demonstrating significant market demand and the viability of its proposed plant.
Submission and Announcement Timeline
The Full Proposals for the grant are due by March 19, 2024. The DOE is expected to announce the successful applicants by August 2024, a milestone that could significantly accelerate Volt's growth in the battery materials sector.
Evaluation Criteria and Prospects
The DOE will evaluate proposals based on technical merit, financial resources, commercial market viability, team strength, and community benefit plans. Volt's comprehensive approach and strong consortium support place it in a favorable position for grant approval.
Volt Resources Limited stands at a pivotal juncture. Securing the DOE grant would not only fast-track the company's growth but also position it as a major contributor to the domestic production of battery anodes in the US, aligning with the government's objective to strengthen the battery supply chain.
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