EQS-News: Vulcan Energy Resources Limited
/ Key word(s): Contract
Key contract for Phase One renewable energy and lithium project includes construction of geothermal power plant
Vulcan Energy (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce it has signed a major contract with a consortium between Turboden and ROM Technik, to design, develop, procure and construct the commercial geothermal power plant near Landau Germany, as part of the Phase One Lionheart Project (the Project). Lionheart will have the capacity to produce 275 GWh of power, and 24,000 tonnes of lithium hydroxide, enough for ca. 500,000 electric vehicles, per annum.[1]
Key points
Vulcan Energy's Managing Director and CEO, Cris Moreno, commented: "The geothermal power plant is a key component of our Phase One operation." "Securing the services of both Turboden and ROM Technik, who are both leaders in their respective fields, will underpin the construction of the geothermal power plant, and we are fully confident in their ability to execute having delivered similar type projects in Germany and globally." "This is yet another milestone in our aim to deliver a local, low-cost source of sustainable lithium for the European battery supply chain, with a co-product of renewable energy production." "We look forward to working with both service providers in ultimately contributing to the Landau region's supply of climate-neutral energy."
Overview map of Vulcan's licence areas in the Upper Rhine Valley, including the location of the geothermal plant at the Phase One upstream.
For and on behalf of the Board Daniel Tydde | Company Secretary Further information Judith Buchan | Communications Lead - APAC | jbuchan@v-er.eu | +61 411 597 326 Please contact Vulcan's Legal Counsel Germany, Dr Meinhard Grodde, for matters relating to the Frankfurt Stock Exchange listing on mgrodde@v-er.eu. About Vulcan Energy Vulcan Energy (ASX: VUL, FSE: VUL) is building the world's first carbon neutral, integrated lithium and renewable energy business to decarbonise battery production. Vulcan's Lionheart Project, located in the Upper Rhine Valley Brine Field bordering Germany and France, is the largest lithium resource in Europe[5] and a tier-one lithium project globally. Harnessing natural heat to produce lithium from sub-surface brines and to power conversion to battery grade material and using its in-house industry-leading technology VULSORB®, Vulcan is building a local, low-cost source of sustainable lithium for European electric vehicle batteries. For more information, please go to https://v-er.eu/
Founded in 1980, Turboden S.p.A. is an Italian firm and Mitsubishi Heavy Industries group company, providingglobal technological solutions for energy efficiency and the decarbonization of industries and utilities. It is aleader in the design, manufacture, and maintenance of Organic Rankine Cycle (ORC) systems, which are highly suitable for distributed generation. These systems generate electric and thermal power by harnessing multiple sources, including renewables such as biomass and geothermal energy, as well as waste heat from industrial processes, waste incinerators, engines, or gas turbines. Today, Turboden is expanding its technological solutions to include gas expanders and large heat pumps, enabling it to play a broader role in decarbonising the district heating sector and energy-intensive industrial processes. For more information, please go to www.turboden.com
ROM Technik is a leader in Germany in the planning, construction and maintenance of technical building equipment. ROM Technik supports its customers in their projects across all trades of technical building equipment, whether in partial orders or the entire building services equipment. With a comprehensive range of services, customers can receive all services from a single source. For more information, go to Home: ROM Technik
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.
The information in this announcement that relates to estimates of Mineral Resources and Ore Reserves is extracted from the Bridging Engineering Study Results announcement on 16 November 2023 and the Future Phase Pipeline - Mannheim Resources Growth announcement on 9 July 2025[6], both of which are available to view on Vulcan's website at http://v-er.eu. Vulcan confirms, that in respect of the estimates of Mineral Resources and Ore Reserves included in this announcement:
[1] Please refer to the risk factors contained in the 18 December 2024 (Prospectus) and Appendix 4 of the Equity Raise Presentation dated 11 December 2024 regarding the risks associated with resource exploration and development projects. Based on the Phase One production target capacity of 24ktpa from the Bridging Engineering Study (BES) Announcement 16 November 2023 and Vulcan internal estimated average EV battery size and chemistry in Europe. Please also refer to the Competent Person Statement. [2] Subject to indexation adjustments and negotiation should it not become effective by end 2025. All material payments are contingent on Vulcan finalising its financing package, which is targeted for H2 2025. [3] Subject to indexation adjustments and negotiation should it not become effective by end 2025. All material payments are contingent on Vulcan finalising its financing package, which is targeted for H2 2025. [4] Substantial completion is currently Q2 2028, subject to standard adjustments as per the terms of the contract. [5] On a lithium carbonate equivalent (LCE) basis, according to public information, as estimated and reported in accordance with the JORC Code 2012. See Appendix 4 of Vulcan's Equity Raise Presentation dated 11 December 2024 for comparison information. [6] The Mannheim Announcement relates solely to the lithium brine Resource estimation for the Mannheim sector. 26.09.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
| Language: | English |
| Company: | Vulcan Energy Resources Limited |
| Unit 1, Level 11, 1 Spring Street | |
| WA 6000 Perth | |
| Australia | |
| E-mail: | dtydde@v-er.eu |
| 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: | 2204538 |
| End of News | EQS News Service |
2204538 26.09.2025 CET/CEST
