Vulcan Energy Resources is a pioneering sustainable lithium and renewable energy company established in 2018. The firm is dedicated to producing carbon-neutral lithium for electric vehicle batteries while simultaneously generating renewable energy through geothermal power. With its Phase One Lionheart Project located in the Upper Rhine Valley, Vulcan aims to secure Europe’s lithium supply chain through innovative extraction methods that meld advanced technology with sustainable practices. The company’s unique approach extracts lithium from naturally heated subsurface brine while generating clean energy, thus setting new benchmarks for environmental responsibility in battery material production.
Battery Technology
Vulcan’s Zero Carbon Lithium Project signifies a major leap forward in sustainable lithium production. Utilizing a carbon-neutral process powered solely by renewable energy, the company extracts lithium from geothermal brines. Central to their innovation is VULSORB®, an in-house developed sorbent that maximizes lithium extraction efficiency.
The extraction process involves accessing hot brines from deep underground, which contain both thermal energy and dissolved lithium. By employing their proprietary direct lithium extraction (DLE) method, Vulcan separates lithium from these brines while retaining the fluid’s thermal properties. This dual-purpose approach yields battery-grade lithium hydroxide while concurrently generating renewable electricity and heat.
The goal is to produce enough lithium hydroxide for approximately 500,000 electric vehicles annually during Phase One, with an ambition to expand capacity to support 1 million vehicles yearly in Phase Two. This sustainable production method negates the need for evaporation ponds, hard rock mining, or fossil fuels, thereby establishing new standards for battery material production.
Recent Projects
Recently, Vulcan has entered into a strategic partnership with AVEVA to propel digital transformation in its Zero Carbon Lithium Project. The commissioning of its downstream lithium hydroxide optimization plant has also commenced, marking significant advancement toward commercial production. Additionally, the company received approval from the European Investment Bank Board for Phase One financing and attained an S&P Global Dark Green rating, validating its commitment to environmental stewardship.
Investors
Vulcan Energy Resources has garnered substantial investments from major industry stakeholders. Stellantis N.V. holds a 5.337% stake following a €50 million investment made in 2022. Other significant investors include Francis Wedin (7.672%), Georgina Rinehart (6.583%), and CGI3 PTY LIMITED (5.519%). The company successfully raised over $320 million in 2021 through two placement rounds, reflecting strong market confidence in its sustainable lithium production model.
Business Details
Location: Perth, Australia
Website: https://v-er.eu
LinkedIn: https://www.linkedin.com/company/29279513
