Volt Carbon Signs Vermiculite Toll Agreement Utilizing Its Patented Air Classifier for a Minimum Annual Volume of 40,000 Tonnes

Volt Carbon Technologies Inc. (VCT) has signed its first commercial deployment of its patented Air Classifier, entering into a toll processing agreement with Northern Ore Resources for vermiculite. The contract stipulates a minimum annual processing volume of 40,000 metric tonnes and a corresponding minimum annual revenue commitment of USD $4.0 million.

In addition to the processing fees, Volt Carbon receives a 2.5% equity interest in Northern Ore. The agreement also establishes a framework to process high-grade graphite from Northern Ore’s property, requiring a minimum of 10,000 tonnes per year. Profit sharing on value-added products from this graphite will be split 50/50, subject to definitive agreements.

The agreement requires approximately USD $750,000 in capital expenditure for a larger commercial air classifier. Operations are expected to ramp during 2027, achieving full throughput in 2028. Management guides for only modest processing revenues in the remainder of 2026.

Volt Carbon Technologies Inc. (VCT) has transitioned from a pure technology developer to a company with a contracted commercial revenue stream following today’s release. The agreement establishes a USD $4M/yr floor, a figure that stands in stark contrast to historical revenues of CA$35,118 in FY2025 and CA$59 in H1-2026. This contract serves to validate the company’s dry separation platform, although execution risks remain significant.

The company faces immediate capital requirements, needing approximately US$750,000 upfront against a cash balance of only CA$107,477 as of April 30, 2026. This shortfall occurs alongside a working capital deficit of CA$810,350. While the equity kicker in Northern Ore offers a minor positive, it does not alter the funding picture.

The stock has rallied from $0.02 to $0.12 in recent months, partially pricing in expectations prior to the release. Within the context of the company’s news history, the agreement represents the culmination of frequent technical milestones, including patents, battery cycles, and graphene results, as well as a constant series of small dilutive financings. Although transformative on paper, the agreement’s cash flow will not materialize immediately, and the company remains in a precarious financial position.

Volt Carbon Technologies Inc. (VCT) is a pre-revenue technology company focused on the dry separation of graphite and critical minerals using its patented air classifier technology, as well as on developing solid-state lithium-metal batteries. The company holds mineral interests in Quebec, specifically the Berkwood graphite project, and in British Columbia, where it controls the Mount Copeland molybdenum and rare earth element (REE) property. These holdings currently lack formal NI 43-101 resource estimates.

The company’s Guelph, Ontario facility houses its battery laboratories and mineral processing equipment. Volt Carbon’s flagship project is the air classifier technology itself, which the company intends to monetize through toll-processing, licensing, and offtake agreements.