Mr. V-Bond Lee reports

VOLT CARBON TECHNOLOGIES ANNOUNCES SUBSIDIARY SOLID ULTRABATTERY AS A SUCCESSFUL APPLICANT OF THE HORIZON FUND COMPETITION

Volt Carbon Technologies Inc.'s subsidiary in Guelph, Solid Ultrabattery Inc., is a successful applicant of the Horizon Fund Competition for a project titled "Development of Solar Charging for Solid Ultrabattery's Aerospace Battery Project."

Funding initiative

The WISA (Waterloo Institute for Sustainable Aeronautics) Sustainable Future -- Horizon Fund Competition provides support to projects that have the potential to be a model of social, environmental and economic sustainability in aviation or aerospace. The program fosters inspirational ideas, exciting designs and new directions toward a more sustainable future.

Funded by the government of Canada with a investment of nearly $9.2-million through the Federal Economic Development Agency for Southern Ontario (FedDev Ontario), this initiative advances WISA's mission of supporting innovative solutions and fosters an ecosystem supporting a sustainable future for the aviation and aerospace industries.

Funding overview

WISA will be supporting 50 per cent of total project cost, to a maximum of $20,000, and Solid Ultrabattery will contribute the remaining 50 per cent of total project cost.

Project duration

Solid Ultrabattery will report back and complete project activities by March 1, 2024.

Project scope

The project aims to further enhance Solid Ultrabattery's new 400-watt-hour-per-kilogram battery with solar charging. The combination of solar and battery electric technology holds the potential to significantly extend the flight duration of small drones. The project will be overseen by Solid Ultrabattery's battery lead, Dr. Hey Woong Park.

About Volt Carbon Technologies Inc.

Volt Carbon is a publicly traded carbon science company, with specific interests in energy storage and green energy creation, with holdings in mining claims in the provinces of Ontario, Quebec and British Columbia in Canada.

We seek Safe Harbor.