Subscribe
Be the first with the news that moves the market- Vulcan Energy (VUL) receives a vote of support from the City Council of Landau in Germany to develop a geothermal energy and lithium extraction plant in the area.
- The local council votes to support geothermal energy production in Germany’s Upper Rhine Valey, where Vulcan plans to develop its Zero Carbon Lithium project
- The council also voted to take a positive stance towards lithium extraction from geothermal brine
- Vulcan says this support marks an important milestone in the progression of its first-phase development plans for the Zero Carbon Lithium project
- Shares in Vulcan Energy Resources last traded at $5.73 on June 16.
Vulcan Energy Resources (VUL) has received a vote of support from the City Council of Landau in Germany to develop a geothermal energy and lithium extraction plant in the area.
The company said the local council voted to support geothermal energy production in the Insheim region within Germany’s Upper Rhine Valley and to take a positive stance towards lithium extraction from geothermal brine.
This marks an important step in the progression of Vulcan’s first-phase development plans for its Zero Carbon Lithium project.
Vulcan is busy developing a definitive feasibility study (DFS) for the project with the aim to grow out geothermal renewable energy production in the Upper Rhine Valley Brine Field (URVBF) and to develop lithium extraction and processing from that same production.
Vulcan Managing Director Francis Wedin welcomed the support from the City Council, calling it an important step in supporting renewable geothermal energy and lithium extraction.
“This marks an important step forward along the journey of the development of our dual geothermal energy and Zero Carbon Lithium business, which is widely recognised as vital not just to energy and critical raw materials supply security in Europe, but also to meeting Germany’s climate goals,” Dr Wedin said.
“In addition, we note that we have further expanded our license footprint in the Upper Rhine Valley Brine Field, which adds to our growing pipeline of projects expanding out from our producing core of the field.”
Further to the local council support for its Zero Carbon Lithium project plans, Vulcan said it had acquired new exploration licenses, increasing its area in the URVBF by 141 square kilometres to a total of 1163 square kilometres.
The company said the new exploration licenses, designated Flaggenturm (geothermal) and Fuchsmantel (lithium), complemented its pipeline of future growth opportunities for the largest JORC-compliant lithium resource in Europe
Shares in Vulcan Energy Resources last traded at $5.73 on June 16.
