on Vulcan Energy Resources Limited (isin : AU0000066086)
Approval Granted for Vulcan's Lithium Plant in Germany
Vulcan Energy Resources Limited has secured a permit to construct and operate its Central Lithium Plant (CLP) in Frankfurt, Germany. This marks a significant development for Europe's supply chain in critical raw materials and battery production. The plant will produce carbon-neutral lithium hydroxide monohydrate (LHM) for electric vehicle batteries, with an initial annual capacity of 24,000 tonnes.
The permit was conferred by the Darmstadt Regional Council and witnessed by Vulcan's CEO Cris Moreno. The CLP will transform lithium chloride from the Geothermal and Lithium Plant into LHM. Amendments have been made to offtake agreements with partners, aligning with the project's financial timeline. State and federal grants totaling approximately €104 million will support the endeavor.
The plant is a strategic step towards a sustainable lithium source for the EU, aiding in reducing raw material dependencies.
R. H.
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