Volt Resources’ (ASX:VRC) subsidiary Volt Energy is joining the US Defense Industrial Base Consortium (DIBC) to establish the Alabama Graphite Refinery in the US.
As a member of the consortium, the company will be eligible to engage in other transaction agreements with the US Department of Defense for advanced technologies and materials to bolster national security.
Funded by the US Department of Defense, the DIBC intends to connect with researchers, developers, and producers to boost the defense industrial base to maintain military demand.
CEO Prashant Chintawar says Volt Energy’s acceptance into the consortium is important for the company’s US growth strategies.
“This membership enables direct engagement with the US Department of Defense, streamlining our ability to contribute to critical supply chains and national security,” Chintawar says.
“With the advancement of our Alabama Graphite Refinery, Volt is well positioned to deliver high-purity, domestically sourced materials essential for battery and defense technologies.”
As reported by Mining.com.au, Volt Resources recently relocated its head office to The EDGE at the Alabama Entrepreneurship Institute hub for startups, not long after its refinery presented a pre-tax net present value of US$136 million.
The company’s US operations are focused on meeting the global demand for graphite, which is listed as a critical mineral for its significance in energy storage systems and the electric vehicle market.
Write to Maddison Elliott at Mining.com.au
Images: Volt Resources
