Vulcan Energy Signs Key Contract with NESI for Lionheart Project

Vulcan Energy Resources Limited has finalized a significant supply contract with NORAM Electrolysis Systems Inc. (NESI) for the Phase One Lionheart Project. This contract appoints NESI as the exclusive provider of electrolysis technology, critical for producing cost-effective, high-purity lithium hydroxide. Targeting the European battery electric vehicle market, this initiative is a pivotal step towards secure project financing in the latter half of 2025.

The agreement includes support across key development stages at the Central Lithium Plant located in Frankfurt. NESI's NORSCAND® Electrolysers technology plays a central role, promising a sustainable energy solution. This contract follows successful trials at Vulcan's Optimisation Plant and preceding agreements aimed at securing mineral supply chains between Germany and Canada.

Vulcan plans to finalize further project contracts and financing agreements imminently, with full-scale construction commencement slated for the second half of 2025.