Mr. V-Bond Lee reports

VOLT CARBON TECHNOLOGIES ACHIEVES 2023 TARGET AND RECORD MILESTONE IN ITS LITHIUM-METAL BATTERY DEVELOPMENT

Volt Carbon Technologies Inc. has released the most recent test outcomes for its exclusive lithium-ion battery enabling the company to exceed its 2023 target milestone of 500 cycles. These results mark the advancements made at Solid Ultrabattery's Guelph facility throughout 2023 and builds upon the results disclosed previously on July 24, 2023.

Highlights

The company utilized its exclusive technology for the production of battery pouch cells, incorporating composite electrolytes to enhance cycle life and battery stability. These cells were assembled using the company's custom electrolytes and membranes, along with the high-energy cathode NMC811 and lithium metal, resulting in the creation of advanced lithium-metal battery cells. Additionally, the integration of carbon nanotubes (CNTs) as the conductive material in the NMC811 cathode contributed to improved cycle life exceeding 500 cycles, with a retention capacity of 87.7% at the 514th cycle, as illustrated in Figure 1 below. Furthermore, the use of CNTs allowed for a reduction of the conductive material in the cathode by less than 50% compared to carbon black.

These outcomes signify the company's record achievement in cycle life at its Guelph battery plant.

Next Steps

The obtained test results pave the path for the Company to set its sights on the next milestone, aiming to exceed 800 cycles and attain 80% capacity in 2024 with its lithium metal battery technology.

From an operational perspective, the company is actively preparing for the implementation of Phase Two, which involves designing and constructing a pilot battery line and dry room. These crucial additions will empower the plant to manufacture cells at pre-production levels, adhering to higher quality standards and effectively transforming it into a megawatt-sized factory. The products from this pilot line will target specialized consumer and industrial applications. To fund this initiative, the company is actively seeking fundraising opportunities.

V-Bond Lee, the company's CEO and President, expressed, "I'm pleased with these standout results; the CNTs boosted performance measurably, while giving a slight energy density bump. We're now targeting the 800 cycles and 80% capacity goals for 2024 as laid out in our product roadmap."

About Volt Carbon TechnologiesVolt 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. For the latest information on Volt Carbon's properties and news please refer to the website www.voltcarbontech.com.

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