Similar to VOLT
TWIG is very similar to VOLT in many ways and I use it (TWIG) every day. However, twig is an actual templating engine (which can also be used with Phalcon) but VOLT is just a template compiler that creates .php files.
VOLT files are not actually executed on page load, just compiled to php files then the compiled file is run on each request.
The system I built that uses the TWIG templating engine runs 925 websites (as of this morning) and it does it very well. Since TWIG does not just compile to raw PHP, it has a lot of internal overhead, even when using extensive caching, compared to the output by VOLT. At work, I've used xdebug profiling to profile hundreds of sites and TWIG does have a lot more overhead than the php files generated by VOLT.
In regards to the OP by @Jurigag, if you just include the phalcon.so file, you can use VOLT as a standalone component : https://docs.phalcon.io/en/latest/reference/volt.html#stand-alone-component
The overhead of including the whole phalcon framework is not going to impact your performance.