Green Energy – Voltage Metals Corp

Announcements, Battery Materials, Battery Metals, Company News, Copper, Electric Vehicle, Green Energy, Nickel, St.Laurent, Voltage News

Voltage completes drill program at the St. Laurent Ni-Cu Project and flies airborne VTEM survey over the Jerry Lake Property

June 28, 2022 10:30 amFebruary 23, 2023

TORONTO, June 28, 2022 /CNW/ – Voltage Metals Corp., (“Voltage” or the “Company”) (CSE: VOLT) (OTC: VLTMF) is pleased to announce that it has completed a diamond drill program at the Company’s 100% owned St. Laurent Nickel-Copper-Cobalt Project, located 160 km northeast of Timmins, Ontario. The drilling consisted of 2,460 metres in seven holes, with downhole geophysical surveys completed on six of the seven holes. A total of 570 samples, representing 800 metres of core were split for analysis. All samples have been shipped to the lab, with results expected periodically over the next eight weeks.

The St. Laurent Project has received minimal exploration activity since the initial work in the mid 1960’s when nickel-copper mineralization was first identified in a limited number of shallow drill holes. Subsequent airborne geophysical surveys defined a strong electromagnetic (EM) anomaly with an associated bullseye magnetic response, both of which are coincident with the reported disseminated mineralized zone. Diamond drilling in 2008 and 2019 identified geological characteristics indicative of gabbro breccia/conduit hosted nickel mineralization similar to the Lynn Lake Deposit (28.4 million tons @ 0.91% Ni, 0.49% Cu) the Kenbridge deposit (7.5 million tonnes @ 0.58% Ni, 0.32% Cu), and the Montcalm Deposit (3.9 million tonnes @ 1.3% Ni, 0.67% Cu, 0.05 Co).

The recently completed drill program followed up on the results of the 2019 diamond drilling, where the highest nickel grades on the project were intersected with three separate intervals of >1.0% Ni, as well as the widest intersection (113.4 m) of lower grade nickel mineralization, Table 1. Nickel assays in conjunction with the associated sulphur results indicate a high nickel tenor¹ of 5% Ni for massive sulphides (35% S) in the magmatic system. Two priority Borehole EM anomalies from the 2019 program and a deeper Heligeotem II Anomaly modelled from a 2007 Survey were also targeted in this drill program.

Table 1 – St. Laurent Diamond Drill Assay Results 2019

DDH #	Year	From m	To m	Width m*	Ni %	Cu %	Co ppm	Au ppb	Pt ppb	Pd ppb	S %
SL-19-01	2019	238.5	248.6	10.1	0.32	0.33	155.4	66.9	23.9	31.8	2.2
SL-19-01	2019	252.4	256.0	3.6	1.10	0.45	503.9	46.0	279.6	84.4	5.1
SL-19-01	2019	256.7	260.9	4.2	1.30	0.47	567.5	690.2	132.9	124.7	5.6
SL-19-01	2019	265.8	270.5	4.7	1.00	0.83	506.0	119.9	243.9	91.4	4.8
SL-19-03	2019	328.0	441.4	113.4	0.22	0.17	139.4	16.3	23.7	20.5	3.4

*Reported width represents core measurements as insufficient information available to determine true thickness.

Bob Bresee, CEO of Voltage stated “The St. Laurent Project represents a previously unrecognized Ni-Sulphide system with very limited past exploration work. As we receive the borehole and assay results over the next while we are reminded that the Ontario Government recently announced (March 17, 2022), a Critical Minerals Strategy for the coming 5 year period to focus on exploration and development of Ni, Cu, Co, Pt, Pd, the very metals specifically contained within the St. Laurent project. We look forward to reporting on the assay and geophysical results in the coming weeks.”

Jerry Lake Property

A 285-line km Geotech VTEM survey has been completed on the Jerry Lake Project, situated 57 km northwest of the St. Laurent Project. The Jerry Lake gabbro represents the only sizeable gabbro body within the Burntbush Assemblage outside of the St. Laurent Gabbro. The Jerry Lake property has never been evaluated with an airborne EM survey, nor has any ground-based exploration been conducted. A well-defined glacial dispersal fan² of chalcopyrite and nickel suggests the unrecognized Ni-sulphide potential of the Jerry Lake Gabbro. CEO Bob Bresee commented “Jerry Lake is a very good opportunity for Voltage to evaluate an unexplored target with exploration features similar to our Montcalm and St. Laurent Projects. We expect to report the VTEM survey results over the next few weeks.”

About Voltage Metals

Voltage is a mineral exploration company with a highly experienced team focused on nickel and other battery metals exploration in the Canadian provinces of Ontario and Newfoundland. The Company looks to create shareholder value by aggregating and exploring projects that display sound geology and brand-new discovery potential. Voltage has a deep roster of management and key stakeholders, who are expert in the essential resource trifecta of exploration, operations and finance.

Qualified Person:

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in NI 43-101 and reviewed and approved by Todd Keast, P.Geo., a Qualified Person as defined by NI 43-101.

References:

Nickel Tenor is a common practice in magmatic nickel-copper exploration where the nickel vs S ratio is extrapolated to 100% sulphides (35% S), to estimate the grade of massive sulphide. Nickel tenor does not provide certainty that massive sulphides will be discovered.
Gao, C. 2015 Results of regional till sampling in the Detour and Burntbush area, northern Ontario; Ontario Geological Survey,Open File Report 6297, 120p.

Forward Looking Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. The forward-looking statements and information are based on certain key expectations and assumptions made by management. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information. There can be no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause the actual results and expectations to differ materially from the anticipated results or expectations expressed. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date hereof, and to not use such forward- looking information for anything other than its intended purpose. Management of the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Announcements, Battery Materials, Battery Metals, Company News, Copper, Electric Vehicle, Green Energy, Nickel, Voltage News, Wheeler

Voltage Metals Corp Reviews Data from its Newfoundland Nickel-Copper-PGE-Cobalt-Chromium Project and Outlines Next Steps

May 31, 2022 10:39 amFebruary 23, 2023

TORONTO, May 31, 2022 /CNW/ – Voltage Metals Corp. (CSE: VOLT) (OTC: VLTMF) (the “Company” or “Voltage”) is pleased to provide this update on the Company’s 100% owned Wheeler Project in Newfoundland.

Voltage Metals Newfoundland Wheeler Project (CNW Group/Voltage Metals Corp.)

The Wheeler property (“Wheeler”) is situated on the west coast of Newfoundland, 25 kilometres north of the deep-water port town of Stephenville. The property covers the southern extent of the Bay of Islands ophiolite complex and is composed of mafic and ultramafic assemblages dominated by gabbros, pyroxenites and peridotites. The target on the Wheeler property is magmatic Ni-Cu-PGE (plus Co-Cr) mineralization hosted within a mafic intrusion, similar to Norilsk in Russia, Lynn Lake and Namew Lake in Manitoba, Nkomati in South Africa, and Voisey’s Bay in the province of Newfoundland and Labrador.

Wheeler includes the locations of extremely anomalous lake-sediment samples collected as part of the federal and provincial government’s lake-sediment survey (a 35,768 lake-sediment sample database) including the four highest nickel values in the province with values of 4,980, 4,750, 4,390 and 4,230 parts per million (ppm) Ni (nickel), respectively. The property also hosts copper, chromium and cobalt sediment values that are in the 99.9^th percentile of the same dataset.

In August of 2021 the Company completed a 726-line-kilometre VTEM airborne geophysical survey at Wheeler, flown by Geotech Ltd, on northeast-southwest-oriented lines spaced 200 metres apart. Recent interpretation of that survey has identified several high-priority drill targets.

“Results from the 2021 VTEM survey show 6 discrete, moderate to strong-amplitude VTEM AEM anomalies over the ophiolite complex,” stated Alan King, the company’s consulting geophysicist. “Potential geological sources of the VTEM responses include conductive serpentinization, graphitic /black shales in sediments, or conductive sulphides. Based on known geology, the most likely source for the strongest two anomalies is pyrrhotite-dominated sulphides, due to local associated magnetic anomalies and the mafic to ultramafic host rocks.”

“We are eager to drill the Wheeler project and test these priority conductors,” stated Voltage CEO Bob Bresee. “This area of southwestern Newfoundland has become very prospective for base metals, as evidenced by the success of our next-door neighbour York Harbour Metals, whose quality drill results have been driving shareholder value in recent months. The historic results on Wheeler demonstrate the excellent potential for nickel, copper, cobalt and platinum group element mineralization.”

Historically documented occurrences on the Wheeler property consist of both net-textured pentlandite (nickel sulphide) and PGE-rich chalcopyrite (copper sulphide) mineralization, indicating that the minerals formed within a magma chamber. Voltage has applied for drill permits at Wheeler and is currently receiving quotations for a summer drilling program of approximately 2,000 metres, to test up to five near-surface EM anomalies.

Appointment of Technical Advisor

Voltage is pleased to announce the appointment of Alan King to its technical advisory board. Alan is a geophysics expert having consulted for decades on projects in Canada, Australia, South America, Africa and Asia. From 1990 to 2012, he was employed by Inco/Vale as a senior geophysicist and then as Manager of Geophysics with responsibility for global exploration. He was a member of the technical team that performed Inco’s due diligence during its review of Voisey’s Bay, prior to its eventual purchase from Diamond Fields in 1995. Subsequent to the acquisition, Alan continued in a supervisory role on Voisey’s Bay geophysics as the project was developed, as well as on other Inco green field and mine area projects. In his capacity as Chief Geophysicist for Vale Global Exploration, Alan worked on geophysical applications for base metals, gold, iron, manganese, coal and fertilizers (potash and phosphate), as well as target generation using regional and global data sets.

Qualified Person

The technical information contained in this news release has been reviewed and approved by Dr. Stephen Amor, PhD, PGeo, who is a qualified person, as defined by National Instrument 43-101, Standards of Disclosure for Mineral Projects.

About Voltage Metals

Voltage is a mineral exploration company with a highly experienced team focused on nickel and other battery metals exploration in the Canadian provinces of Ontario and Newfoundland. The Company looks to create shareholder value by aggregating and exploring projects that possess sound geology and brand-new discovery potential. Voltage has a deep roster of management and key stakeholders, who are expert in the essential resource trifecta of exploration, operations and finance.

Forward Looking Statements

Battery Materials, Battery Metals, Company News, Electric Vehicle, Green Energy, Nickel, St.Laurent

Voltage intersects widespread Nickel Sulphide mineralization and identifies priority deep EM conductor at St. Laurent Project

February 23, 2022 5:14 pmJune 26, 2023

TORONTO, Feb. 23, 2023 /CNW/ – Voltage Metals Corp., (“Voltage” or the “Company”) (TSXV: VOLT) is pleased to report final assay results from the diamond drill program at the Company’s 100% owned St. Laurent Nickel-Copper-Cobalt Project, located 160 km northeast of Timmins, Ontario. Exploration consisted of seven holes, (2,457m), with borehole EM geophysical surveys completed on six holes. The 2022 program was a follow up to encouraging results from a 2019 program by a previous operator, with SL-19-01 intersecting three separate intervals of >1.0% Ni, and SL-19-03 intersecting 113.4 m 0.22% Ni, 0.17% Cu

Highlights

Six out of Seven holes intersected encouraging Ni-Cu sulphide mineralization.
SL-22-07 intersected 51.8 metres of 0.24% Ni 0.18% Cu, was drilled to provide definition on the broad zone of mineralization intersected in SL-19-03 which included 113.4 metres 0.22% Ni, 0.17% Cu.
SL-22-09 intersected 23.1 metres of 0.36% Ni, 0.23% Cu, including a higher-grade section of 6.0 metres of 0.62% Ni, 0.36% Cu. A deeper intersection in this hole returned 14.0 metres of 0.25% Ni, 0.14% Cu.
SL-22-10 intersected 10.3 metres of 0.29% Ni, 0.17 % Cu and a deeper higher-grade interval of 0.67% Ni, 0.44% Cu over 4.0 metres..
SL-22-11 intersected multiple intervals of mineralization including 17.5m of 0.28% Ni 0.19% Cu, an intermediate interval of 13.0 metres of 0.53% Ni, 0.27 % Cu, and a deeper intersection of 14.4 metres of 0.36% Ni, 0.32% Cu.
A newly identified Maxwell Plate EM anomaly positioned between SL-10-01 and SL-19-02 suggests size and continuity of mineralization for follow-up drill testing.
A recently defined Maxwell Plate EM anomaly proximal to SL-19-06 providing a priority target for follow-up work and suggests continuity of the mineralized system to the northeast.

St. Laurent Nickel Sulphide Mineralized System

The St. Laurent Project displays geological characteristics indicative of a gabbro breccia/conduit hosted style of nickel mineralization, comparable to the Lynn Lake Deposit (28.4 million tons @ 0.91% Ni, 0.49% Cu)¹ the Kenbridge deposit (7.5 million tonnes @ 0.58% Ni, 0.32% Cu)², and the Montcalm Deposit (3.9 million tonnes @ 1.3% Ni, 0.67% Cu, 0.05 Co)³. Characteristics of these systems include, irregular massive sulphide lenses contained within broad intervals of lower grade mineralization, often disrupted by barren xenoliths of gabbro intrusion material and the surrounding wall rock material.

Nickel and sulphur assay data from St Laurent predicts a high nickel tenor⁴ of 5% Ni for massive sulphides (35% S) in the St. Laurent system. Drilling to date has intersected multiple intervals of wide, lower grade disseminated, stringers and blebby sulphide mineralization.

2022 Drill Hole Results

SL-22-05 was drilled 45 metres up-dip from the three closely spaced mineralized zones intersected in SL-19-01 (1.1% Ni, 0.5% Cu, 503 ppm Co, 5.1% S over 3.6m, 1.3% Ni, 0.5 % Cu, 568 ppm Co, 5.6% S over 4.2m, 1.0% Ni, 0.8% Cu, 506 ppm Co, 4.8% S over 4.7m) coincident with the center of a strong Maxwell Plate EM anomaly. The hole encountered sulphide mineralization at the expected depth with 0.7% Ni, 0.3% Cu over 2.6 m, but was abruptly terminated by the presence of mafic volcanic xenoliths. Several narrow intervals were intersected, including 3.9 m of 0.21% Ni, 0.25% Cu, and a deeper section of 0.8m of 0.81% Ni, 0.14% Cu. The presence of mafic volcanic xenoliths is an expected component of the conduit type system. Identifying the position of the larger xenoliths is important for future drill planning.

SL-22-06 was drilled to test the north-east extension of the mineralized system in the down plunge direction, targeting a deep-strong Maxwell Plate EM anomaly. Non mineralized Gabbro and Diorite were intersected throughout the entirety of hole with no explanation for the anomaly. Follow up Borehole EM surveys have defined a strong, large off-hole anomaly indicating the presence of conductive material continuing in the northeast down-plunge direction.

SL-22-07 was drilled 400 metres in front and oriented back towards SL-19-03. The purpose of the hole was to further define the width and orientation of the low- grade mineralization in SL-19-03, while at the same time testing multiple Maxwell Plate EM anomalies. SL-22-07 intersected 51.8m of 0.24% Ni, 0.18% Cu. The broad zone of mineralization was cut-off early by the presence of a large mafic volcanic xenolith. The mineralized zone in this area is interpreted to be approximately 75 metres wide. Borehole EM surveys have defined a large continuous Maxwell Plate EM anomaly coincident with the broad zone of mineralization, suggesting good continuity to the system.

SL-22-08 was drilled 80 metres east of SL-22-05 to test the edge of a Maxwell Plate EM anomaly. A wide interval of 52.7 metres of 0.12% Ni, 0.09% Cu with a higher-grade interval of 0.25% Ni, 0.18% Cu over 9.0 metres was intersected.

SL-22-09 was drilled from the same setup as SL-22-08 at a steeper dip. SL-22-09 intersected 0.62% Ni, 0.36% Cu over 6.0 m within a broader interval of 23.1 metres of 0.34% Ni, 0.23% Cu. Variation in grade of mineralization between SL-22-09, SL-22-08 drilled 60 metres above, and SL-19-01 drilled 65 metres to the west, highlight the expected variations in this style of a mineralized system. SL-22-09 encountered a large mafic volcanic xenolith interpreted to have cut off a portion of the mineralized zone.

SL-22-10 was drilled to test wide sections of mineralization reported in drill holes PA-2 and PA-4 (1966). Drill casings for these two holes were located in the field, which allows the historical data to be accurately incorporated into the current model. SL-22-10 was positioned between the two older setups and planned to evaluate the western portion of the mineralized system. SL-22-10 intersected 10.3 metres of 0.29% Ni, 0.17% Cu and a second interval of 4.0 metres of 0.70% Ni, 0.44% Cu.

SL-22-11 was drilled from the same setup as SL-22-10 at a shallower dip. Multiple zones of mineralization were intersected throughout the hole, including 5.5 metres of 0.28% Ni, 0.18% Cu, 6.5 metres of 0.22% Ni, 0.21% Cu, 17.5 metres of 0.28% Ni, 0.42% Cu, and 13.0 metres of 0.53% Ni, 0.27% Cu. The mineralized zone is interpreted to be approximately 100 metres thick based on drilling in this area.

Assay results are included in Table 1. Drill intervals in the table are core lengths, as true widths have not been determined due to insufficient drill detail.

Table 1 – St. Laurent 2022 Diamond Drill Program Assay Results

BHID	From m	To m	Width m	Ni ppm	Cu ppm	Co ppm	Au ppm	Pt ppm	Pd ppm	S %
SL-22-05	196.4	204.9	8.5	2978	2116	155	0.01	0.02	0.04	1.9
SL-22-05 incl	196.4	199.0	2.6	6733	3127	315	0.03	0.04	0.07	3.6
SL-22-05	216.6	220.5	3.9	2108	2491	135	0.05	0.03	0.04	2.2
Sl-22-05	256.2	257.0	0.8	8060	1395	408	0.02	0.21	0.13	4.5
SL-22-06	NSA
SL-22-07	289.2	341.0	51.8	2356	1817	159	0.03	0.07	0.07	3.7
SL-22-07 incl	330.5	339.8	9.3	3447	3130	192	0.07	0.14	0.09	3.7
SL-22-07 incl	334.0	339.8	5.8	4176	3718	232	0.09	0.18	0.12	4.3
SL-22-08	190.0	242.7	52.7	1203	917	98	0.01	0.02	0.02	2.5
SL-22-08 incl	190.0	199.0	9.0	2482	1806	129	0.01	0.02	0.02	2.2
SL-22-08	274.5	280.5	6.0	1332	777	112	0.01	0.04	0.04	2.5
SL-22-09	237.4	260.5	23.1	3577	2332	178	0.02	0.02	0.03	2.3
SL-22-09 incl	240.0	246.0	6.0	6183	3564	278	0.02	0.04	0.04	3.4
SL-22-09	284.0	298.0	14.0	2458	1372	149	0.02	0.01	0.03	2.3
SL-22-10	86.0	96.3	10.3	2938	1692	193	0.02	0.07	0.06	3.1
SL-22-10	164.0	168.0	4.0	6696	4352	329	0.16	0.06	0.03	4.5
SL-22-10 incl	165.3	168.0	2.7	8346	5885	408	0.22	0.07	0.04	5.3
SL-22-11	25.0	30.5	5.5	2701	1749	174	0.02	0.06	0.04	2.6
SL-22-11	85.0	91.5	6.5	2148	2183	146	0.03	0.05	0.04	2.2
SL-22-11	106.4	114.0	7.6	1561	770	116	0.01	0.04	0.03	1.6
SL-22-11	134.5	152.0	17.5	2801	1859	178	0.02	0.04	0.02	2.8
SL-22-11	175.5	188.5	13.0	5270	2674	314	0.01	0.04	0.05	3.7
SL-22-11 incl	185.4	186.5	1.1	13445	4480	810	0.01	0.10	0.12	6.9
SL-22-11	209.1	223.5	14.4	3603	3208	196	0.02	0.09	0.04	3.1

2022 Drill Program

Exploration consisted of seven holes, (2,457m), with borehole EM geophysical surveys completed on six holes. A total of 570 samples, representing 800 metres of core were split for analysis. All drill holes, with the exception of SL-22-06, intersected multiple intervals of sulphide mineralization. The St. Laurent mineralized system has been sporadically tested along 650 metres strike extent, with only 4,792 metres of drilling in three separate programs since 2008. In 1966, 13 holes were competed, with drill logs (limited assay data) provided for 7 of the 13 holes (1,081m). Drill Hole locations for the 2022 program are included in Table 2.

Table 2- 2022 Drill Hole Locations

BHID	UTM E	UTM N	Elev Z	Az	Dip	EOH m
SL-22-05	603758	5469208	290	330	-55	300.0
SL-22-06	603988	5469744	290	150	-70	486.0
SL-22-07	603835	5469675	290	150	-55	471.0
SL-22-08	603828	5469243	290	330	-55	309.0
SL-22-09	603828	5469243	290	330	-68	384.0
SL-22-10	603590	5469409	290	150	-65	219.0
SL-22-11	603590	5469409	290	150	-50	288.0
						2457.0

Borehole EM Surveys

Borehole EM surveys were performed on the majority of 2019 and 2022 drill holes. The interpreted Maxwell Plate modeling is an effective method at tracking the trend of the mineralization and provides a high level of confidence for future drill targeting.

Comment on Results

The 2022 Voltage diamond drill program has improved the geological understanding of the St. Laurent project and greatly expanded the footprint of the mineralized system. Bob Bresee, President of Voltage states “The objective of the 2022 drill program was to identify massive sulphide mineralization, which based on the nickel tenor of this system indicates high grade 5% nickel. The St. Laurent magmatic system includes appreciable amounts of cobalt and PGE’s which combined with a high nickel grade provides an extremely desirable exploration target due to the high dollar value of the contained minerals. Although massive sulphides are the primary exploration focus, wide lower grade nickel mineralization in conjunction with the current high metal prices present exploration opportunities to evaluate lower nickel grade, larger volume material. The broad zones of lower grade mineralization at St. Laurent indicate a large continuous system that has been lightly drill tested with 5,873 metres total drilling since 1966, along a strike distance of 650 metres.”

Assaying & QAQC

Core was logged, tagged and sawn at the Company’s logging facility in Cochrane, Ontario. Samples were transported in sealed bags to ALS Canada Ltd. facility in Timmins for preparation. Pulps were transported to Vancouver, British Columbia for 35 element MEICP41 Aqua regia ICP AES analysis, PGM ICP23 analysis for Au- Pt- Pd analysis, S-IR08 for Sulphur analysis, Cu OG46 analysis for >10000 ppm Cu and NiOG46 analysis for >10000 ppm Ni. the sampling of, and assay data, from drill core is monitored through the implementation of a quality assurance – quality control (QA-QC) program designed to follow industry best practice.

Qualified Person

The St. Laurent 2022 diamond drill project was completed under the direct supervision of Todd Keast, P.Geo, a consultant to Voltage Metals Corp. Todd Keast, P.Geo. is a Qualified Person as defined in National Instrument 43-101. He has reviewed and approved the technical content of this press release.

References:

Pinsent R.H., 1980, Nickel Copper Mineralization in the Lynn Lake Gabbro, Manitoba Department of Energy and Mines Minerals Resources Division Economic Geology Report ER-79-3.
Tartisan Nickel Corp. Sedar Website P & E Mining Consultants, Sept 17,2020, Technical Report and Updated Mineral Resource Estimate of the Kenbridge Nickel Project.
Atkinson, 2011, Ministry of Northern Development and Mines.
Nickel Tenor is a common practice in magmatic nickel-copper exploration where the nickel vs S ratio is extrapolated to 100% sulphides (35% S), to estimate the grade of massive sulphide. Nickel tenor does not provide certainty that massive sulphides will be discovered.

Green Energy

Pathway to critical and formidable goal of net-zero emissions by 2050 is narrow but brings huge benefits, according to IEA special report

May 18, 2021 9:42 amFebruary 18, 2022

World’s first comprehensive energy roadmap shows government actions to rapidly boost clean energy and reduce fossil fuel use can create millions of jobs, lift economic growth and keep net zero in reach

The world has a viable pathway to building a global energy sector with net-zero emissions in 2050, but it is narrow and requires an unprecedented transformation of how energy is produced, transported and used globally, the International Energy Agency said in a landmark special report released today.

Climate pledges by governments to date – even if fully achieved – would fall well short of what is required to bring global energy-related carbon dioxide (CO2) emissions to net zero by 2050 and give the world an even chance of limiting the global temperature rise to 1.5 °C, according to the new report, Net Zero by 2050: a Roadmap for the Global Energy Sector.

The report is the world’s first comprehensive study of how to transition to a net zero energy system by 2050 while ensuring stable and affordable energy supplies, providing universal energy access, and enabling robust economic growth. It sets out a cost-effective and economically productive pathway, resulting in a clean, dynamic and resilient energy economy dominated by renewables like solar and wind instead of fossil fuels. The report also examines key uncertainties, such as the roles of bioenergy, carbon capture and behavioural changes in reaching net zero.

“Our Roadmap shows the priority actions that are needed today to ensure the opportunity of net-zero emissions by 2050 – narrow but still achievable – is not lost. The scale and speed of the efforts demanded by this critical and formidable goal – our best chance of tackling climate change and limiting global warming to 1.5 °C – make this perhaps the greatest challenge humankind has ever faced,” said Fatih Birol, the IEA Executive Director. “The IEA’s pathway to this brighter future brings a historic surge in clean energy investment that creates millions of new jobs and lifts global economic growth. Moving the world onto that pathway requires strong and credible policy actions from governments, underpinned by much greater international cooperation.”

Building on the IEA’s unrivalled energy modelling tools and expertise, the Roadmap sets out more than 400 milestones to guide the global journey to net zero by 2050. These include, from today, no investment in new fossil fuel supply projects, and no further final investment decisions for new unabated coal plants. By 2035, there are no sales of new internal combustion engine passenger cars, and by 2040, the global electricity sector has already reached net-zero emissions.

In the near term, the report describes a net zero pathway that requires the immediate and massive deployment of all available clean and efficient energy technologies, combined with a major global push to accelerate innovation. The pathway calls for annual additions of solar PV to reach 630 gigawatts by 2030, and those of wind power to reach 390 gigawatts. Together, this is four times the record level set in 2020. For solar PV, it is equivalent to installing the world’s current largest solar park roughly every day. A major worldwide push to increase energy efficiency is also an essential part of these efforts, resulting in the global rate of energy efficiency improvements averaging 4% a year through 2030 – about three times the average over the last two decades.

Most of the global reductions in CO2 emissions between now and 2030 in the net zero pathway come from technologies readily available today. But in 2050, almost half the reductions come from technologies that are currently only at the demonstration or prototype phase. This demands that governments quickly increase and reprioritise their spending on research and development – as well as on demonstrating and deploying clean energy technologies – putting them at the core of energy and climate policy. Progress in the areas of advanced batteries, electrolysers for hydrogen, and direct air capture and storage can be particularly impactful.

A transition of such scale and speed cannot be achieved without sustained support and participation from citizens, whose lives will be affected in multiple ways.

“The clean energy transition is for and about people,” said Dr Birol. “Our Roadmap shows that the enormous challenge of rapidly transitioning to a net zero energy system is also a huge opportunity for our economies. The transition must be fair and inclusive, leaving nobody behind. We have to ensure that developing economies receive the financing and technological know-how they need to build out their energy systems to meet the needs of their expanding populations and economies in a sustainable way.”

Providing electricity to around 785 million people who have no access to it and clean cooking solutions to 2.6 billion people who lack them is an integral part of the Roadmap’s net zero pathway. This costs around $40 billion a year, equal to around 1% of average annual energy sector investment. It also brings major health benefits through reductions in indoor air pollution, cutting the number of premature deaths by 2.5 million a year.

Total annual energy investment surges to USD 5 trillion by 2030 in the net zero pathway, adding an extra 0.4 percentage points a year to global GDP growth, based on a joint analysis with the International Monetary Fund. The jump in private and government spending creates millions of jobs in clean energy, including energy efficiency, as well as in the engineering, manufacturing and construction industries. All of this puts global GDP 4% higher in 2030 than it would reach based on current trends.

By 2050, the energy world looks completely different. Global energy demand is around 8% smaller than today, but it serves an economy more than twice as big and a population with 2 billion more people. Almost 90% of electricity generation comes from renewable sources, with wind and solar PV together accounting for almost 70%. Most of the remainder comes from nuclear power. Solar is the world’s single largest source of total energy supply. Fossil fuels fall from almost four-fifths of total energy supply today to slightly over one-fifth. Fossil fuels that remain are used in goods where the carbon is embodied in the product such as plastics, in facilities fitted with carbon capture, and in sectors where low-emissions technology options are scarce.

“The pathway laid out in our Roadmap is global in scope, but each country will need to design its own strategy, taking into account its own specific circumstances,” said Dr Birol. “Plans need to reflect countries’ differing stages of economic development: in our pathway, advanced economies reach net zero before developing economies. The IEA stands ready to support governments in preparing their own national and regional roadmaps, to provide guidance and assistance in implementing them, and to promote international cooperation on accelerating the energy transition worldwide.”

The special report is designed to inform the high-level negotiations that will take place at the 26th Conference of the Parties (COP26) of the United Nations Climate Change Framework Convention in Glasgow in November. It was requested as input to the negotiations by the UK government’s COP26 Presidency.

“I welcome this report, which sets out a clear roadmap to net-zero emissions and shares many of the priorities we have set as the incoming COP Presidency – that we must act now to scale up clean technologies in all sectors and phase out both coal power and polluting vehicles in the coming decade,” said COP26 President-Designate Alok Sharma. “I am encouraged that it underlines the great value of international collaboration, without which the transition to global net zero could be delayed by decades. Our first goal for the UK as COP26 Presidency is to put the world on a path to driving down emissions, until they reach net zero by the middle of this century.”

New energy security challenges will emerge on the way to net zero by 2050 while longstanding ones will remain, even as the role of oil and gas diminishes. The contraction of oil and natural gas production will have far-reaching implications for all the countries and companies that produce these fuels. No new oil and natural gas fields are needed in the net zero pathway, and supplies become increasingly concentrated in a small number of low-cost producers. OPEC’s share of a much-reduced global oil supply grows from around 37% in recent years to 52% in 2050, a level higher than at any point in the history of oil markets.

Growing energy security challenges that result from the increasing importance of electricity include the variability of supply from some renewables and cybersecurity risks. In addition, the rising dependence on critical mineralsrequired for key clean energy technologies and infrastructure brings risks of price volatility and supply disruptions that could hinder the transition.

“Since the IEA’s founding in 1974, one of its core missions has been to promote secure and affordable energy supplies to foster economic growth. This has remained a key concern of our Net Zero Roadmap,” Dr Birol said. “Governments need to create markets for investments in batteries, digital solutions and electricity grids that reward flexibility and enable adequate and reliable supplies of electricity. The rapidly growing role of critical minerals calls for new international mechanisms to ensure both the timely availability of supplies and sustainable production.”

The full report is available for free on the IEA’s website along with an online interactive that highlights some of the key milestones in the pathway that must be achieved in the next three decades to reach net-zero emissions by 2050.

Source: International Energy Agency (IEA)