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Vulcan Energy Resources (ASX:VUL) - Managing Director, Dr Francis Wedin
Managing Director, Dr Francis Wedin
Source: The Market Herald
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  • Vulcan Energy Resources (VUL) partners with Germany’s Rosberg X Racing (RXR) electric racing team and owner, Nico Rosberg, for the Extreme-E competition
  • Extreme-E is a five-race event that takes place over four continents, promoting sustainability and the adoption of electric vehicles
  • The deal will see Mr Rosberg and the RXR team become shareholders in VUL in return for advertising rights for the 2021 and 2022 racing seasons
  • Vulcan is aiming to become the world’s first lithium producer with net zero carbon emissions from its Zero Carbon Lithium project in Germany
  • Company shares are down a slight 1.02 per cent to trade at $12.60

Vulcan Energy Resources (VUL) has partnered with the Rosberg X Racing (RXR) electric racing team and owner, Nico Rosberg, in the Extreme-E competition.

Mr Rosberg, a sustainability entrepreneur, was the Formula One World Champion in 2016 and founded the Greentech Festival.

Based in Neustadt, Germany, Team RXR is an evolution of Team Rosberg, which was founded in 1994 by Mr Rosberg’s father and 1982 F1 World Champion, Keke Rosberg.

The newly signed deal makes Vulcan Energy the official partner of RXR and will see both RXR and Mr Rosberg become shareholders in Vulcan in exchange for advertising and promotional rights for the 2021 and 2022 racing seasons.

The Extreme-E competition, which was also created by Rosberg, comprises five races over four continents. The event aims to highlight the impact of climate change and human activity on some of the world’s most remote locations, while promoting the adoption of electric vehicles to help protect the planet.

Today the team comprises Australian female driver Molly Taylor and Swedish male driver Johan Kristoffersson.

Vulcan’s managing director, Dr Francis Wedin, said the Extreme-E championship had achieved worldwide recognition as the future of motorsport.

“As the leader in sustainable battery metals, this is an excellent fit to raise global awareness for Vulcan’s Zero Carbon Lithium business,” Dr Wedin said.

“We welcome leading sustainability entrepreneur Nico Rosberg and the RXR team as partners and shareholders of Vulcan and we look forward to a productive relationship together.”

Mr Rosberg said he was thrilled to announce Vulcan as the team’s new partner.

“We have incredibly positive momentum as we look ahead to the third X Prix and we are excited to see the ODYSSEY 21 feature our new partner’s branding in Greenland in just a few weeks’ time.”

Vulcan Energy Resources is aiming to become the world’s first lithium producer with net zero greenhouse gas emissions from its Zero Carbon Lithium Project in Germany.

Company shares were down a slight 1.02 per cent to trade at $12.60 at 10:10 am AEST.

VUL by the numbers
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