11:47 AM EDT, 08/26/2024 (MT Newswires) -- Volt Lithium ( VLTLF ) on Monday said it successfully installed and began function-testing its first proprietary direct lithium-extraction field unit in the Permian Basin in Texas, paving the way for its first lithium production.

The field unit will be capable of processing over 200,000 liters, or 1,250 barrels, of oilfield brine per day, more than doubling Volt's previous processing capacity.

Volt's field unit is modular and allows the company to efficiently scale up further to process commercial levels of brine by adding modules.

Based on historical modeling, Volt plans to continually scale up its initial field unit over the next year to achieve commercial processing of 100,000 barrels per day.

Volt's shares were last seen up $0.025 to $0.46 on the TSX Venture Exchange.

Price: 0.46, Change: +0.03, Percent Change: +5.75