The Vulcan Energy Resources Ltd (ASX: VUL) share price surged higher in March as the company dropped a barrage of news.
Over the course of the last 31 days, the renewable energy-focused lithium developer’s stock has gained 17.8%.
As of the final close of the month, the Vulcan Energy share price is $10.12.
So, what’s been boosting Vulcan Energy’s shares into the green lately? Let’s take a look.
Vulcan Energy’s stock surges 18% in March
The Vulcan Energy share price took off this month amid news of the company’s maiden revenue from operations and its Zero Carbon Lithium Project.
The first time the market heard from Vulcan Energy this month was on 10 March. Then, it released its report for the first half of financial year 2022 in a non-price sensitive announcement.
Within the release, Vulcan Energy announced it had brought in nearly 690,000 euros from continuing operations over the 6 months ended 31 December 2021.
The maiden revenue was driven from the company’s recently acquired Insheim Plant, a geothermal energy power plant.
It also reported an increase in its net assets and a net loss after tax of around 6.2 million euros for the period.
The Vulcan Energy share price gained just 1.2% on the day it release its half-year report.
The following week, the company released good news about its Zero Carbon Lithium Project.
Vulcan Energy announced it had begun re-fabrication work on the project’s direct lithium extraction demonstration plant.
That means it’s on track to commission the plant in mid-2022.
The news comes after the company recorded nearly 12 successful months of operations at its direct lithium extraction pilot plant. The pilot plant has been operating at levels above those predicted in its pre-feasibility study.
The update saw the Vulcan Energy share price launch 5.5% higher.
Finally, in other non-price sensitive news, the company welcomed Dr Günter Hilken to its board last week.
Hilken has worked in Germany’s chemicals, renewables. and infrastructure investment sectors for the past 35 years.
Vulcan Energy chair Gaven Rezos noted Hilken’s skills will help the company supply German geothermal energy to replace Russian gas used in heating.
Vulcan Energy share price snapshot
Sadly, this month’s gains weren’t enough to boost the Vulcan Energy share price back into the long-term green.
It is still 6.6% lower than it was at the start of 2022. Though, it has gained 69% since this time last year.