Volt Carbon Technologies Inc. Charge CCCV LLC are pleased to announce a strategic relationship marked by the signing of a non-binding Memorandum of Understanding and the execution of a Material Transfer Agreement on November 14th, 2023. VCT and C4V have solidified their collaboration through a MOU with the principal purpose of testing and qualifying VCT's innovative battery electrolyte. The ultimate objective is to establish a formal agreement between VCT and C4V through which VCT will supply or license its electrolyte to C4V's gigafactories and/or its supply chain partners.

VCT has entered into a MTA with C4V, allowing for the transfer of samples of VCT's Solid Ultrabattery proprietary electrolyte, for testing and qualification purposes. The MTA, effective as of October 22nd, 2023, grants C4V a non-exclusive license to use the material for testing with the goal of validating VCT's proprietary electrolyte formulation. As part of the collaboration, VCT will also provide graphite concentrate to C4V to be processed into battery grade anode and electrodes through C4Vs "Green Anode" technology.

The graphite concentrate will be sourced from VCT's graphite plant in Scarborough, Ontario and provided to C4V. The MOU and MTA signify a significant stride in VCT's mission to drive innovation in energy storage and green energy. The strategic relationship with C4V opens avenues for collaboration in testing and refining battery technologies, further solidifying VCT's presence in the evolving energy storage and the critical minerals market.

Strategically, the C4V Supply Chain Qualification program would be a unique and faster path to market for VCT through a "single window" qualification program, VCT technology will be available for use by multiple C4V affiliated gigafactories across the globe.