EQS-News: Vulcan Energy Resources Limited: Zero Carbon Lithium Project Update
EQS-News: Vulcan Energy Resources Limited
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“Endspurt” (final sprint to finish) for Optimisation Plant
Senior appointments to Zero Carbon Lithium™ Project execution team from oil and gas, battery and Tier One EPC industries EPCM contracts for Phase One enter RFP stage
Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL, the Company), the renewable energy producer and carbon neutral lithium developer, is pleased to provide a project execution update, for its Zero Carbon Lithium™ Project in the Upper Rhine Valley Brine Field, Germany. Vulcan is developing the largest lithium resource in Europe and aims to be a key enabler of Europe’s transition to electric vehicles (EVs).
Highlights: Lithium Extraction Optimisation Plant: “Endspurt”
Zero Carbon Lithium™ Project: Phase One commercial execution advances
Vulcan’s MD and CEO, Dr. Francis Wedin, commented: “Enabled by our strong cash position, we are making steady, methodical progress towards the execution of the Zero Carbon Lithium™ Project. With the final sprint to finish to mechanical completion of our Lithium Extraction Optimisation Plant and negotiation of key contracts for commercial Phase One, there is a hive of activity on the ground. We are fortunate to be joined by some highly motivated, highly skilled project execution professionals from the O and chemicals industries, deploying their considerable experience towards decarbonization, electrification and supply chain security in the West. Completing our Optimisation Plant and starting operations in the coming weeks and months will represent the culmination of over 5 years’ work on the Zero Carbon Lithium™ Project, and the birth of an entirely new domestic lithium industry in Germany and Europe, which we are very excited to share with our stakeholders.” Figure 1: Vulcan's LEOP Plant, under construction
About Vulcan Founded in 2018, Vulcan’s unique Zero Carbon Lithium™ Project aims to decarbonise lithium production, through developing the world’s first net carbon neutral lithium business, with the co-production of renewable geothermal energy on a mass scale. By adapting existing technologies to efficiently extract lithium from geothermal brine, Vulcan aims to deliver a local source of sustainable lithium for Europe, built around a net zero carbon strategy with strict exclusion of fossil fuels. Already an operational renewable energy producer, Vulcan will also provide renewable electricity and heat to local communities. Vulcan’s combined geothermal energy and lithium resource is the largest in Europe[1], with license areas focused on the Upper Rhine Valley, Germany. Strategically placed in the heart of the European electric vehicle market to decarbonise the supply chain, Vulcan is rapidly advancing the Zero Carbon Lithium™ Project to target timely market entry, with the ability to expand to meet the unprecedented demand that is building in the European markets. Guided by our Values of Integrity, Leadership, Future-focused and Sustainability, and united by a passion for environmentalism and leveraging scientific solutions, Vulcan has a unique, world-leading team in the fields of lithium chemicals and geothermal renewable energy. Vulcan is committed to partnering with organisations that share its decarbonisation ambitions and has binding lithium offtake agreements with some of the largest cathode, battery, and automakers in the world. As a motivated disruptor, Vulcan aims to leverage its multidisciplinary expert team, leading geothermal technology and position in the European EV supply chain to be a global leader in producing zero fossil fuel, net carbon neutral lithium while being nature positive. Vulcan aims to be the largest, most preferred, strategic supplier of lithium chemicals and renewable power and heating from Europe, for Europe; to empower a net zero carbon future.
Corporate Directory Managing Director and CEO Dr. Francis Wedin Deputy CEO Cris Moreno Chairman Gavin Rezos Non-Executive Director Ranya Alkadamani Non-Executive Director Annie Liu Non-Executive Director Dr. Heidi Grön Non-Executive Director Josephine Bush Non-Executive Director Dr. Günter Hilken Non-Executive Director Mark Skelton Executive Director, Germany Dr. Horst Kreuter Company Secretary Daniel Tydde
For and on behalf of the Board Daniel Tydde | Company Secretary
International: Annabel Roedhammer, Director Communications and IR | [email protected] | +49 1511 4101585 Germany: Mareike Inhoff, Media Relations (Germany) | [email protected] | 0721 4807 02 39 / 0171 711 3860
Please contact Vulcan’s Legal Counsel Germany, Dr Meinhard Grodde, for matters relating to the Frankfurt Stock Exchange listing on [email protected].
Reporting calendar
Disclaimer Some of the statements appearing in this announcement may be in the nature of forward-looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Vulcan operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. No forward-looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Vulcan’s control.
Vulcan does not undertake any obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Vulcan, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement.
This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Vulcan. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.
Vulcan has so far only carried out a pre-feasibility study (the results of which were announced to the ASX in the announcement "Positive PFS Maiden JORC Ore Reserve: Zero Carbon LithiumTM Project" dated 15 January 2020) ('PFS') and a definitive feasibility study for Phase One of its Zero Carbon Lithium™ Project ('Project') (the results of which were announced to the ASX in the announcement "Zero Carbon Lithium Project Phase 1 DFS Results" dated 13 February 2023) ('DFS'), ('DFS Announcement'). Vulcan has not yet carried out a definitive feasibility study for Phase Two of its Project. This announcement includes certain information relating to both the PFS and DFS. Investors should not rely on the results of the PFS as Vulcan considers that the material assumptions underpinning that study are no longer correct in light of the additional studies undertaken in preparing the DFS.
The DFS is based on the material assumptions outlined elsewhere in the DFS Announcement. While Vulcan considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct of that the range of outcomes indicated by the DFS will be achieved.
Competent Person Statement: The information in this announcement that relates to Mineral Resources and Ore Reserves, and any Exploration Results and Production Targets, of Vulcan's Zero Carbon LithiumTM Project is extracted from the DFS Announcement, which is available to view on Vulcan's website at www.v-er.eu. Vulcan confirms that in respect of estimates of Mineral Resources and Ore Reserves, and any Exploration Results and Production Targets, included in this announcement:
[1] According to public, JORC-compliant data. See Phase One DFS announcement, 13 February 2023. Contact: [email protected]
15.06.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Vulcan Energy Resources Limited |
Level 2,267 St. Georges Terrace | |
6000 Perth | |
Australia | |
E-mail: | [email protected] |
Internet: | www.v-er.eu |
ISIN: | AU0000066086 |
WKN: | A2PV3A |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1658175 |
End of News | EQS News Service |
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1658175 15.06.2023 CET/CEST
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