Vulcan Energy (ASX:VUL) to acquire Global Geothermal
Source: The Market Herald
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Vulcan Energy Resources (VUL) has signed a binding agreement to acquire 100 per cent of Global Geothermal (GGH)
GGH is Vulcan’s minority joint venture partner in the granted Taro licence in the Upper Rhine Valley
Vulcan’s acquisition will consolidate its holding in the Upper Rhine Valley and help advance the Zero Carbon Lithium Project towards production
The company will complete the acquisition entirely through share-based payments, with most based on project development milestones
Vulcan Energy Resources closed 3.12 per cent higher at $7.60 per share
4 February 2021
ASX-listed lithium producer Vulcan Resources will raise $120 million in a new share placement, as the company progresses plans to develop one of Europe’s first major sources of lithium to meet surging demand from automakers shifting to electric vehicles.
The Perth headquartered Vulcan Resources will raise the $120 million to from institutional investors to fund the development of a new zero emissions lithium production facility in Germany after feasibility studies into the lithium production facility showed that the project would be highly profitable.
The proposed facility would have the potential to produce as much as 40,000 tonnes of lithium hydroxide each year, the usable ingredient for battery production. The plant would be looking to tap into an identified deposit of 1.12 million tonnes of lithium carbonate equivalent in the Upper Rhine Valley of Germany, Europe’s largest.
Vulcan Energy (ASX:VUL) appoints new COO and joins lithium committee
Source: Bundesverband Geothermie
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Vulcan Energy Resources (VUL) has appointed geothermal project expert Thorsten Weimann as the company’s Chief Operating Officer
Thorsten has over 25 years’ experience in geothermal project development and operation in Germany
At Vulcan Energy, Thorsten will oversee the development of the company’s Zero Carbon Lithium Project in Germany
Meanwhile, the company’s Lithium Product Manager, Dr Katharina Gerber, has been elected as Chairman of a German lithium ISO standards committee
Vulcan Energy Resources is down 4.05 per cent and is trading at $7.58 per share
A Successful Proposal For A Zero-Emissions Lithium Facility In Europe
January 23, 2021 Share
Vulcan Energy Resources, an ASX-listed company with its Australian headquarters in Perth, has been investigating the potential of producing emissions-free lithium in Europe. It has published pre-feasibility results, which show that its proposed facility at a project in Germany’s Upper Rhine Valley would be highly profitable.
The €1.74 billion (A$2.7 billion) lithium production facility will be emissions-free because it will be linked to a 74MW geothermal energy project that will generate all the factory’s electricity. The generator will draw heat from the lithium deposit itself. It will be a reliable source of clean energy and benefit from attractive feed-in-tariffs.