FRANKFURT – Lithium developer Vulcan Energy Resources, which has supply deals with carmakers Volkswagen, Stellantis and Renault, has received 5 new exploration licences for geothermal energy and lithium in Germany.
The licences within the Upper Rhine Valley cover 325 sq. kilometres and increase Vulcan’s granted licence space to more than 1,000 sq. kilometres.
The German-Australian corporate aims to start out industrial production of lithium via 2024 and is banking on a surge widespread for the uncooked material that is utilized in batteries for electrical cars.
“Our middle undertaking is to construct shareholder worth and feature a materially decarbonising impact at the lithium supply chain for battery electric vehicles, and in power production in Europe,” stated Horst Kreuter, handling director of Vulcan Energie Ressourcen Germany.
Geothermal lithium from the upper Rhine Valley along the French-German border has also attracted passion from different companies.