Vulcan Energy Resources announcement

Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL) has received a positive decision from the Landau City Council to proceed with the construction of its integrated Geothermal renewable energy and Lithium Extraction Plant (G-LEP). The agreement allows Vulcan to construct the Phase One Geothermal renewable energy and Lithium Extraction Plant on the intended land in the Landau region, marking a major step towards the completion of the Phase One plant land packages.

Vulcan's Managing Director and CEO, Cris Moreno, on the Landau City Council decision

The decision from the Landau City Council not only represents an important step forward for the execution of Phase One of our ZERO CARBON LITHIUM™ Project, but also underlines the significant progress made towards enabling a more sustainable end-to-end Battery Electric Vehicle supply chain in Europe. This is a collective stakeholder engagement effort, and we are thrilled to have the City of Landau and its administration working together with us towards realizing the enormous benefits of our Project to the Landau region and beyond. This positive decision is a significant de-risking event for Phase One. Our immediate focus now is on producing the first tonnes of lithium on specification from our Optimisation Plants in 01 2024 and finalizing our project-level Phase One financing by the end of Q2.

Vulcan Energy Resources announcement summary

Vulcan Energy Resources has secured approval from the Landau City Council to proceed with the construction of its integrated Geothermal renewable energy and Lithium Extraction Plant (G-LEP), marking a significant milestone for the ZERO CARBON LITHIUM™ Project. The decision underscores the strong support by the City of Landau and represents a major step towards the completion of the Phase One plant land packages. Vulcan's Phase One commercial operation is targeting 24,000 tonnes per annum lithium hydroxide production to supply the European battery electric vehicle supply chain. The company's Managing Director and CEO, Cris Moreno, emphasized the importance of the decision and highlighted the progress made towards enabling a more sustainable end-to-end Battery Electric Vehicle supply chain in Europe. Vulcan aims to deliver a local source of sustainable lithium for Europe, built around a net zero carbon strategy with exclusion of fossil fuels, and is committed to partnering with organizations that share its decarbonization ambitions.