VOLT GROUP LIMITED — Capital/Financing Update 2011

Oct 16, 2011

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15[th] October 2011

The Company Announcements Platform ASX Ltd Sydney NSW 2000

PROGRESS REPORT ON WORKS PROGRAM

Enerji Limited (“Enerji” or “the Company” ) ( ASX: ERJ ) is pleased to provide a detailed progress report pursuant to the conditions of the waiver by the Australian Securities Exchange (“ASX”) in relation to ASX Listing Rule 7.3.2.

As required by condition 1.6 of the waiver, Enerji Ltd provides the following information in the attached Schedule 1:

A detailed report on the progress in relation to our Works Program and assets expenditure, and the extent to which the company has applied funds pursuant to the issue of Bonds towards the Works Program obtained

About Enerji

Enerji Limited is an emerging Perth-based green power utility focussed on commercialising the Opcon Powerbox in Australia.

The Opcon Powerbox cogeneration technology transforms waste heat into electricity and therefore creates significant energy cost and CO2 emissions savings for its customers.

Enerji has exclusive sales and distribution rights for the Opcon Powerbox in Australia and options for Malaysia, Thailand, Singapore and Sub-Saharan Africa.

The Opcon Powerbox, manufactured in Sweden by Opcon, represents a significant commercial opportunity through application to industrial, mining and power generation operations.

Enerji plans to maximise this opportunity and generate shareholder returns through long-term power purchase agreements.

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Ground Floor, 10 Ord Street, West Perth, WA, 6005 Telephone: +618 9268 3800 Facsimile: +618 9226 2018

SCHEDULE 1

The table below provides information on the schedule for the Company’s Works Program

Opcon Powerbox		Works Commencement		Works Completion
1		March2011		November2011
2		December 2011		April 2012
3		December 2011		April 2012
4		March 2012		July 2012
5		April 2012		August 2012
6		April 2012		August 2012
7		May 2012		October 2012
8		May 2012		October 2012
9		June 2012		November 2012

The table below provides a forecast of expenditure on Opcon Powerboxes and installation for the 15 months following the EGM. Subject to ongoing review by the Company, it is anticipated that funds obtained under the Bond Subscription Agreement shall be applied in the manner described in the table below. The table illustrates the intended drawdown of Bonds over the 15 months to continue payments for Opcon Powerboxes and replenish working capital used for previous Opcon Powerbox payments. Opcon Powerbox expenditure and installation (OPE)

Working Capital replenishment (WCR)

		Feb-11	Mar-11	Apr-11	May-11	Jun-11	Jul-11	Aug-11
PLAN	OPE WCR (1,740,234)	- -	- -	- -	- -	- -	- -	- -
COMPLETED	Drawdown Finance Costs	1,000,000 170,000	250,000 12,500	- -	- -	- -	- -	- -
	OPE WCR (1,740,234)	793,669 36,331	45,000 192,500	- -	- -	453,158 -	234,080 -	237,210 -
		Sep-11	Oct-11	Nov-11	Dec-11	Jan-12	Feb-12	Mar-12
PLAN	OPE WCR (1,740,234)	- -	500,000 -	1,389,385 79,546	1,108,462 12,311	967,385 169,508	1,356,769 500,000	639,385 89,015
COMPLETED	Drawdown Finance Costs	- -
	OPE WCR (1,740,234)	36,959 -
Apr-12 May-12 TOTALS OPE 856,769 467,385 7,285,538 WCR (1,740,234) 330,512 330,512 1,511,403 Drawdown 1,250,000 Finance Costs 182,500 OPE 1,800,075 WCR (1,740,234) 228,831 PLAN COMPLETED
		Apr-12	May-12	TOTALS
PLAN	OPE WCR (1,740,234)	856,769 330,512	467,385 330,512	7,285,538 1,511,403
COMPLETED	Drawdown Finance Costs			1,250,000 182,500
	OPE WCR (1,740,234)			1,800,075 228,831