• Volt Group achieved record Q1 Ordinary Revenue receipts of $1.18 million, up 26.8% year-over-year
• EcoQuip Q1 revenue grew 65% to $0.61 million
• Wescone Q1 revenue was in line with budget at $0.57 million

Volt Group Limited (ASX: VPR) has reported strong Q1 FY25 financial results, with record Ordinary Revenue receipts of $1.18 million, up 26.8% year-over-year. The company's EcoQuip business achieved 65% growth in Q1 revenue to $0.61 million, while the Wescone business recorded revenue of $0.57 million, in line with the company's budget. Wescone's Q1 activities included the manufacture and assembly of a Wescone Sample Station for the BHPIO Western Ridge project, which is planned for delivery in Q2 FY25. Wescone also engaged with its new African distribution partner, MIT, to proactively reach out to existing and new customers in the region. During Q1, EcoQuip received all fabricated components for the assembly of 20 new Mobile Solar Light Towers (MSLT), and components for a further 10 MSLTs are scheduled for delivery in early May 2025. EcoQuip also signed two new demonstration hire contracts with Macmahon Contractors and Westgold subsidiary Big Bell Gold Operations, which will see a total of 10 MSLTs deployed across multiple mine site operations. Additionally, EcoQuip continued to work with Chevron USA to advance an MSLT trial deployment at a Louisiana refinery. Volt also completed a 20MW ATEN Waste Heat to Power Concept Study for the WA Government-owned energy retailer and generator, Synergy, which highlighted significant carbon intensity reduction and financial benefits of installing ATEN on an existing Synergy open cycle gas turbine power station.

Volt Group's EcoQuip business is nearing the completion of its remaining MSLT research and development activities by 30 June 2025, after which the primary focus will be on new MSLT fleet manufacture and deployment in the company's preferred energy and resource sector markets in Australia, the USA, and Africa. The company's Wescone business is also expected to benefit from the new Africa distribution partnership with MIT, which is expected to normalize by Q3 FY25. Volt continues to engage with Synergy and other open cycle gas power station owners on the potential carbon intensity and cost reduction benefits of the company's ATEN Waste Heat to Power technology.