Critical is investing C$1m ($1.08m) in solid-state battery developer Volt Carbon Technologies as part of its strategy to pursue downstream opportunities.
Solid state batteries are the next generation of energy storage tech that exceeds current battery performance across energy density, charge rate, safety and cost – all whilst leaving a lower carbon footprint and with higher recyclability.
Volt Carbon Technologies (TSX-V: VCT) , which Critical Resources (ASX:CRR) will own a 5.2% stake in, has patent pending technology in solid-state lithium batteries for major automotive, aerospace and consumer electronics applications and is currently constructing a battery prototyping facility in Ontario, Canada.
It is also advancing a proprietary graphite air-classification technology, which aims to deliver more efficient and environmentally friendly natural graphite beneficiation.
“The investment in Volt Carbon Technologies demonstrates a clear strategy to pursue downstream opportunities that leverage off the company’s asset base and expertise,” Critical Chairman Robert Martin said.
“VCT’s battery technologies have tremendous potential to address major markets including automotive and aerospace applications. We look forward to working with VCT to develop synergies that add value to both businesses.”
Volt Carbon chief executive officer and president William Pfaffenberger welcomed the investment at a time when the company is advancing its solid-state battery development and disruptive graphite processing technology.
“Given Critical Resources’ growing footprint in Canadian lithium, we believe there are additional opportunities to explore in the refining of battery-grade materials for North American markets”.
Solid state battery and graphite beneficiation technologies
The solid state battery technology is developed by Volt Carbon’s wholly owned subsidiary, Solid Ultrabattery.
Solid Ultrabattery was founded by Professor Zhongwei Chen, a global leader in battery and fuel cell technologies, with over 380 scientific papers published and holder of more than 30 patents and provisional patents.
Its proprietary air classification system is designed to separate large-flake graphite by leveraging the difference in the aerodynamic properties of flake graphite and the denser, more spherical surrounding material.
This is more effective, energy-efficient, and s more mobile means of extracting natural graphite after the initial primary crushing processes.
Mavis Lake drilling contractor
Separately, Critical has appointed Cyr Drilling International to carry out the maiden drill program at its Mavis Lake lithium project in Ontario.
The 49-hole program totalling 5,000m is expected to start in April and will confirm historical drilling from 1956 to 2016 and further expand the mineralisation extent potential of the observed pegmatites.
Cyr is an experienced, well established drilling company with local expertise, an excellent safety record and Tier 1 clientele.
This article was developed in collaboration with Critical Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.