EQS-News: Vulcan Energy Resources Limited
/ Key word(s): Regulatory Admission
ASX Release 21 September 2023
Vulcan granted new licence for expansion into Frankfurt
Vulcan to use geothermal renewable energy to decarbonise large industrial areas of Frankfurt through heat supply with potential for lithium extraction
Jointly funded first research well with City of Frankfurt support completed in the region, testing underway for heat and lithium extraction
Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL, the Company), the renewable energy producer and carbon neutral lithium developer, has been granted a new geothermal and lithium brine exploration licence, designated Luftbrücke, covering a region of Frankfurt am Main, an area with potential industrial customers like the Höchst Chemical Park and Frankfurt Airport.
"This new licence signifies a major future phase opportunity for Vulcan as a dual lithium and geothermal energy producer," said Managing Director and CEO Cris Moreno. "We have a strong presence already in the region as we progress towards commissioning of our Central Lithium Electrolysis Optimisation Plant located in Höchst Chemical Park, which will also be the location of our Central Lithium Plant for our Phase One commercial operations. We look forward to growing our relationship with the Frankfurt region and its stakeholders to support their energy transition to meet their carbon neutral goals by 2035."
Luftbrücke licence: potential commercial decarbonisation opportunities for renewable heating.
Figure 1 Luftbrücke licence area
Upper Rhine Valley Brine Field: Zero Carbon Lithium Project Area
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 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, 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 Climate Champion, Determined and Inspiring, and united by a passion for the environment and leveraging scientific solutions, Vulcan has a unique, world-leading scientific and commercial 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.
Executive Chair Dr. Francis Wedin
Managing Director and CEO Cris Moreno
Deputy 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
Annabel Roedhammer, Director, Communications and Investor Relations and PR | firstname.lastname@example.org |
Please contact Vulcan's Legal Counsel Germany, Dr. Meinhard Grodde, for matters relating to the Frankfurt Stock Exchange listing on email@example.com.
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 carried out 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'). This announcement may include certain information relating to the DFS. The DFS is based on the material assumptions outlined in the DFS Announcement (see "Competent Person Statement" below). 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. This announcement may also include certain information relating to Phase 2 of its Project, Vulcan has not yet carried out a definitive feasibility study for Phase Two of its Project.
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:
i Prohaska et al. (2020): Heating and cooling strategies for pilot cities - Frankfurt, Hotmaps deliverable D6.3.
 According to public, JORC-compliant data. See Phase One DFS announcement, 13 February 2023.
21.09.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||Vulcan Energy Resources Limited|
|Level 2,267 St. Georges Terrace|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1731533|
|End of News||EQS News Service|
1731533 21.09.2023 CET/CEST