Vulcan Energy Resources Limited (ASX:VUL) Financing Progress Update

Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL) has announced the latest developments related to the financing of Phase One of the ZERO CARBON LITHIUM™ Project. The company has signed an agreement to finalize the consolidation of its ownership of upstream Phase One lithium and renewable energy assets, aligning with the finalization of Phase One financing. This includes the conditional 100% acquisition of Geox GmbH (Geox), which owns and operates geothermal wells, renewable energy generation assets, and a geothermal and lithium license around the City of Landau, co-located with Vulcan's lithium optimization plant.

Managing Director and CEO Cris Moreno's Statement

The acquisition of Geox finalizes the streamlining of Vulcan's upstream Phase One ownership. It will further derisk the Project, allowing for more efficient operations and improved decision-making during operational ramp-up and beyond. This, together with the updating of our ESIA and credit facility agreement, demonstrates progress towards completion of Phase One financing and start of project execution for our flagship integrated renewable energy and ZERO CARBON LITHIUM™ Project. I look forward to providing further updates on the Phase One financing of the ZERO CARBON LITHIUM™ Project over the coming months.

Summary of Vulcan Energy Resources Announcement

Vulcan Energy Resources Limited (ASX:VUL) has made significant strides in the financing of Phase One of the ZERO CARBON LITHIUM™ Project. The acquisition of Geox GmbH, along with the updated Environmental and Social Impact Assessment (ESIA) and the credit facility agreement, marks substantial progress towards the completion of Phase One financing. The acquisition of Geox allows Vulcan to streamline and consolidate its upstream production assets, replacing existing agreements and enabling more efficient operations. The ESIA update and the credit facility agreement with BNP Paribas demonstrate Vulcan's commitment to sustainable and green debt finance. Vulcan's ambitions to decarbonize lithium production and provide renewable energy align with its goal to be a global leader in producing carbon-neutral lithium and renewable power for Europe, empowering a carbon-neutral future.