The Vulcan Energy Resources Ltd (ASX: VUL) share price is in focus after the company kicked off civil construction at its Lionheart geothermal power plant in Germany, with on-site works including the foundation and road-building for a planned 30MW facility and key progress towards Europe's first integrated lithium and renewable energy project.
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What did Vulcan Energy report?
- Civil construction has commenced at Lionheart 30MW geothermal plant in Landau, Germany
- Project aims for annual production of 24,000 tonnes of lithium hydroxide monohydrate—enough for around 500,000 EV batteries
- Co-production of 275 GWh renewable power and 560 GWh of heat per year, over a 30-year project life
- The site's lithium extraction and geothermal facilities will supply local consumers with heat and renewable energy
- First concrete layers for foundations completed; next step is building erection and equipment assembly
What else do investors need to know?
Vulcan Energy's Lionheart project is a key pillar in Europe's energy independence, blending lithium production with baseload green energy. The integrated site, spanning about ten hectares, is positioned to deliver lithium and clean energy using its proprietary direct lithium extraction process.
The Lionheart development also features a network of pipelines and cables to move lithium brine and recycle water, supporting sustainable operations and minimising waste. The project is progressing on its timeline and budget alongside Vulcan's project partners.
What did Vulcan Energy management say?
Managing Director and CEO Cris Moreno said:
We are delighted to move beyond preparatory bulk earthworks and into civil construction activities at our Lionheart geothermal power plant, an integral part of the Lionheart integrated lithium and geothermal project. By producing our own baseload heat and power, where excess heat will be sold to local consumers, Lionheart is able to deliver low-cost lithium production with significant insulation from high energy prices now and in the future.
It is encouraging to see Lionheart project execution progress on time, and on budget – a great start with our project partners. Step by step, we are building cost competitive lithium production for Europe, and we look forward to keeping our shareholders abreast of further progress as the project develops.
What's next for Vulcan Energy?
Vulcan Energy plans to advance to the next phase of construction at Lionheart, focusing on building erections and equipment assembly. This will mark steady progress toward first production of lithium and renewable energy.
Management's strategy centres on timely, cost-competitive delivery of critical battery materials while supplying clean power and heat to surrounding communities, with regular updates expected as the project milestones are reached.
Vulcan Energy share price snapshot
Over the past 12 months, Vulcan Energy shares have declined 22%, trailing the All Ordinaries Index (ASX: XAO), which is flat over the same period.
