Vulcan Energy
Summary
Australian lithium developer, Vulcan Energy Resources, confirmed on November 12 that it has received a significant €100 million ($106.42 million) funding boost from the German economy ministry. This substantial investment will be channelled towards the Vulcan HEAT4LANDAU project, a pioneering initiative aimed at generating renewable geothermal heat to power Germany’s Landau's transition to sustainable and renewable district heating, commencing in 2026.
The HEAT4LANDAU project is a key component of Vulcan's broader Phase One Lionheart Project. This ambitious undertaking targets an annual lithium hydroxide production capacity of 24,000 metric tons, positioning Europe as a key player in the global green lithium supply chain.
Vulcan is currently progressing its Phase One Lionheart Project financing process, spearheaded by BNP Paribas, with a consortium of lenders including the European Investment Bank and other financial institutions. The German Recovery and Resilience Plan funding program represents one of several grants that Vulcan has applied for under the German national government and European Commission initiatives.
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