Vulcan Energy Begins Lithium Chloride Production In Germany

- Advertisement -

Listed in both Australia and Frankfurt, the company has secured offtake agreements with automakers such as Volkswagen, Stellantis, and Renault. It reported that its Lithium Extraction Optimization Plant in Landau, Germany, achieved strong initial results, with lithium extraction efficiency consistently exceeding 90%.

On Wednesday, Vulcan Energy announced the commencement of its first lithium chloride production at its German extraction facility, utilizing geothermal energy—a critical step in its plan to produce battery-grade lithium hydroxide. According to Vulcan Energy’s CEO, Cris Moreno, this production marks the first instance of locally sourced lithium in Germany, derived directly from the geothermal resources beneath the surface.

Vulcan Energy has secured licenses to explore over 1,000 kilometres of land in the Upper Rhine Valley region of Germany. This region is noted for its underground reservoirs of super-heated, lithium-rich brine. The company utilizes the geothermal heat not only to generate electricity but also to extract lithium from these brines.

- Advertisement -

In response to the European Union’s ambitious goals to secure vital raw materials needed for the green transition—including lithium and cobalt—by means of mining, recycling, and refining, Vulcan Energy highlighted challenges such as funding shortages, high energy costs, and local opposition that could impede these targets. To support national access to these crucial materials for high-tech and environmentally friendly initiatives, the German government established a 1.1 billion-euro investment fund in February.

Furthermore, Vulcan Energy, which is listed on stock exchanges in both Australia and Frankfurt, has established offtake agreements with major automotive manufacturers like Volkswagen, Stellantis, and Renault. The company reported that its Lithium Extraction Optimization Plant in Landau, Germany, has been showing promising early results, achieving over 90% efficiency in lithium extraction. These results align with the outcomes observed in Vulcan’s laboratory and pilot plant studies and are consistent with the expectations for its commercial operations, according to the company’s financing model.

Looking ahead, Vulcan plans to convert the lithium chloride produced into battery-grade lithium hydroxide at a new conversion facility in Frankfurt later this year. CEO Moreno disclosed plans to raise funds for a large-scale industrial plant aimed at producing 24,000 tonnes of lithium hydroxide annually by the end of 2026—sufficient to supply around 500,000 electric vehicles. Moreno expressed optimism about closing the financing for this project within the next four to five months.

In a significant development, Vulcan Energy revealed in February that it had successfully passed the initial review by the European Investment Bank (EIB) for potential debt financing up to 500 million euros (approximately USD 537.15 million). This funding would support Vulcan’s ambitious projects and further its contributions to Europe’s green transition initiatives.

- Advertisement -

Most Popular Articles

Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Crompton Greaves Starts Kitchen Appliance Manufacturing In Vadodara

0
This move aims to boost product quality and operational efficiency, enhancing the delivery of innovative, high-quality kitchen solutions to meet growing consumer demands. Crompton Greaves...

Advancing  Manufacturing Sector With New Refrigerator Plant

0
By incorporating advanced backward integration processes, this plant sets to redefine industry standards, promising improved efficiency and reduced environmental impact, while also boosting local...

EV Sales In India Fall Face First From March to April 2024

0
Electric Vehicle sales, across segments, have fallen short of the promise the sector was witnessing over the last few months. Despite the extension of FAME scheme for...

Buzz

India Eyes $250M Private-Public Cloud Model For Semiconductor R&D

0
According to the plan, this facility will offer easy access to chip and packaging designs for startups, researchers, and small firms. The Indian government is...

EV Parts Maker Matel Raises $4M

0
Matel manufactures components such as power trains and motor control units for electric vehicles. In this funding round, investors included Gruhas, backed by Nikhil...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...

Important Sectors

Automotive Electronics Industry Growth Prospects And Strategies

0
From electric vehicles (EVs) to autonomous vehicles, discover the challenges, key players, and market segments driving a $136 billion industry revolutionising vehicles and the...

India Eyes $250M Private-Public Cloud Model For Semiconductor R&D

0
According to the plan, this facility will offer easy access to chip and packaging designs for startups, researchers, and small firms. The Indian government is...

EV Parts Maker Matel Raises $4M

0
Matel manufactures components such as power trains and motor control units for electric vehicles. In this funding round, investors included Gruhas, backed by Nikhil...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...

Ampere Teams With Qualcomm On AI, Unveils New Chip

0
Ampere Computing and Qualcomm team up to create energy-efficient AI chips, launching a data center server aimed at reducing power consumption and outpacing rivals...

Manufacturing

Automotive Electronics Industry Growth Prospects And Strategies

0
From electric vehicles (EVs) to autonomous vehicles, discover the challenges, key players, and market segments driving a $136 billion industry revolutionising vehicles and the...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...
Siemens and CSA

Siemens Limited Announces ₹1000 Crore Capex

0
In a statement, Siemens announced that it is expanding its factory operations in Goa to address the rapidly growing demand for essential industry components. Siemens...

Atul Aggarwal Named New Managing Director Of Sterling Tools

0
In his new position, Atul Aggarwal, who serves as a whole-time director as well, will lead the company's expansion and development into new verticals. Sterling...
Sona Comstar

Sona Comstar’s 3-Pronged Global Strategy To Outperform China In EV Parts Supply

0
Sona BLW Precision Forgings (Sona Comstar) has adopted a three-pronged strategy: leveraging the protectionist policies of the US and Indian governments to exclude Chinese...