Under the terms of the MOU, 24M Technologies will promote Volt as a preferred supplier for the Leading Lithium-ion battery (LIB) natural graphite anode and LIB cathode conductive additive to 24M licensees

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Volt, 24M sign MoU for graphite supply. (Credit: Vladimir Patkachakov on Unsplash)

Australia-based graphite and battery material provider Volt Resources has collaborated with US-based lithium-ion batteries manufacturer 24M Technologies.

Both companies signed a Memorandum of Understanding (MOU) to qualify Volt’s battery anode material and cathode additive products for use in 24M’s SemiSolid production platform.

Under the terms of the MOU, 24M Technologies will promote Volt as a preferred supplier for the Leading Lithium-ion battery (LIB) natural graphite anode and LIB cathode conductive additive to 24M licensees.

The execution of the MoU, which outlines initial indicative pricing for LIB anode materials, is subject to the determination of the Joint Development Agreement program by 24M.

Volt has also agreed to address the future requirement for LIB natural graphite anode and LIB cathode conductive additive, for 24M’s licensees.

In addition, 24M is expected to evaluate an investment in Volt Energy Materials (VEM), a US subsidiary of Volt, within six months of signing a binding graphite offtake agreement.

Volt managing director Trevor Matthews said: “We have the right entrepreneurial team in place for VEM and with the recent implementation of the Inflation Reduction Act, the US is already witnessing a dramatic growth of LIB and associated component manufacturing.

“We are uniquely positioned to become a leading and a low-cost LIB anode producer due to access to high-quality graphite from our graphite business in Ukraine, which has been in operation since 1934, and inverted flow sheet manufacturing process which simultaneously produces value-added products for lithium-ion, alkaline, and lead acid batteries.

“Volt’s 70% owned Zavalievsky Graphite business in Europe and future supply from the Bunyu Graphite Project in Tanzania are foundations for our integrated LIB material business growth.”

Based in Cambridge, Massachusetts, 24M has developed SemiSolid LIB cell, an advanced technology to solve the challenge of energy storage.

The company is said to address the 25-year-old challenge associated with battery storage, reducing its cost while maintaining its strengths.

Its customer base includes license and services agreements with cell supplier, FREYR, Japan’s Kyocera, Volkswagen, Lucas TVS, and Fujifilm.

24M president and CEO Naoki Ota said: “We are excited to expand our relationship with Volt Energy Materials LLC and look forward to optimising their low-cost, high-quality graphite for our SemiSolid manufacturing platform.

“We believe, when fully optimised, the spheronised graphite has the potential to lower the cost and improve the performance of SemiSolid lithium-ion cells and through Volt provide a low-cost, stable supply for our license partners.”