FAQs.

Renewable energy through Geothermal and deep geothermal energy

  • Geothermal energy refers to the thermal energy stored beneath the earth’s solid surface.
  • Energy from geothermal energy can be used for heating, cooling and generating electricity.

  • The term “geothermal energy” is a generic term and refers to both near-surface and deep geothermal energy. The main difference lies in the depth of the borehole.
  • While near-surface geothermal energy uses geothermal energy from depths of up to 400 metres, deep geothermal projects involve drilling up to several kilometres below the earth’s surface. The temperature of the thermal water rises as the depth of the boreholes increases.
  • As a result, geothermal energy from deep geothermal energy can supply entire neighbourhoods with green heat or electricity, whereas heat from near-surface geothermal energy can only heat individual detached houses and apartment blocks.
  • Vulcan utilises deep geothermal energy for its projects, as drilling up to 4 km underground is required to extract the lithium-rich thermal water, resulting in a greater energy yield.

Deep geothermal energy in Germany has the potential to cover over a quarter of Germany’s heating requirements (source Fraunhofer 2022).

Advantages of deep geothermal energy:

  • Climate-friendly: When converting geothermal energy into electricity or heat, considerably less CO2 is produced than when generating energy from coal and other fossil fuels.
  • Unlimited supply: In contrast to fossil fuels, geothermal energy is inexhaustible.
  • Consistency: Geothermal energy is base-load capable and therefore available at all times. Other renewable energy sources, on the other hand, are dependent on the day or the weather. If several geothermal power plants are connected together, maintenance periods can also be bridged without any problems.
  • High efficiency: Hardly any heat energy is lost when producing heat with geothermal energy.
  • Low space requirement: Compared to conventional oil or gas heating systems, geothermal connection stations in households are significantly smaller. The amount of land required for installations is also significantly lower than for other renewable energies.
  • Versatility: In addition to heat, geothermal energy can also be used to generate electricity and cooling.
  • Service life: Geothermal systems have a long service life of at least 50 years, new systems even longer.

 

Disadvantages of deep geothermal energy:

  • Cost intensity: The construction of a new geothermal plant is associated with high costs.
  • Locally limited usability: Only a few regions in Germany have the necessary conditions for the utilisation of geothermal energy.
  • High expenditure: Complex preliminary work such as deep geothermal drilling is often required to find the required temperature level in deeper layers of the earth.

  • Redundancy can be achieved in several ways
    • Mobile heating power plants to bridge planned shutdowns or unplanned outages of the power plant
    • Consolidation of several locations, no downtimes during maintenance or outages of individual power plants
  • The supply of heat is prioritised, but cooling and electricity are also possible. How much of what depends on the amount of district heating purchased locally and other factors.

The special thing about the Upper Rhine Graben is that it is a fracture structure.

  • Rift valley, filling with sediment
  • Areas outside were pushed upwards
  • Differences in rock layering and depths

This has several advantages for geothermal projects:

  • Simple exploitation of the target reservoir through the so-called fault zones belonging to the natural fracture structure.
  • The temperatures of the thermal water between 170° and 200° enable a high heat output before lithium extraction and the conversion of heat to electricity, for example, can take place with water vapour as the working medium.
  • The high underground temperatures also allow the energy to be utilised to make the extraction process CO2-neutral.
  • The thermal water has a high lithium concentration of 180 mg/l.
  • Possible extraction rates are particularly high due to the good rock permeability.
  • A high salt content that drives the sorption process
  • Comparatively low proportion of certain substances that could hinder the extraction of lithium.
  • Proximity of the Upper Rhine Graben to the planned battery factories in Europe

  • Seismicity describes the observable earthquake activity in a region. Seismics, on the other hand, is the technique of using seismic waves to obtain information about the subsurface.

  • Seismicity is associated with any utilisation of the subsurface (e.g. mining, drinking water extraction, hydrocarbon extraction). The aim is to keep seismicity below the perception threshold and avoid even the smallest damage.
  • To this end, all activities during project development and operation are monitored using highly sensitive vibration measurements and operations are adapted accordingly.
  • Thanks to 3D seismic technology, we can investigate the subsurface in advance in greater detail than it was the case with previous projects. This improved knowledge makes it possible to reduce seismicity.
  • Interesting to know: No deep geothermal energy was used in the incident in Staufen in which cracks occurred. These were poorly executed drilling measures for geothermal probes at a maximum drilling depth of only 140 metres (Staufen 2020: Link).

  • The controlled construction and operation of a geothermal system will almost certainly prevent major damage. In the unlikely event of damage, probably of an exclusively minor nature, this will be borne by the party responsible.
  • Vulcan’s concept envisages that a fund provided by Vulcan will handle small claims via an independent ombudsman.
  • Insurance can come into play in the unlikely event of major or very numerous incidents. In the past, the question of current value or replacement value insurance was an issue. Liability insurance usually only covers the current value.
  • In the 1970s, the German government introduced a mining damage compensation fund in which all mining companies participate on a solidarity basis. This comes into play if all other forms of cover fail for whatever reason. This cover has never been utilised since its introduction. Vulcan is also a member of the Mining Damage Compensation Fund.

  • The same heat transfer media used in refrigerators and air conditioning systems are used in geothermal power generation plants. They are subject to usage and safety regulations.
  • In addition, the safety precautions and fire protection regulations are very high throughout the entire plant area. The safety precautions go far beyond those of a petrol station, which stores a comparable liquid with petrol and diesel in city centres and sells it directly to the public.
  • All substances that come into contact with thermal water must be authorised by the authorities and are subject to the strict provisions of water law.

  • No. There are over 100 boreholes in the Southern Palatinate alone that use a recognised method. There were no cases of groundwater contamination.
  • Although layers containing drinking water are drilled through, the drilling fluid seals all water-bearing layers. Several pipes are then cemented in place, which are interlocked and sealed with cement to provide multiple protection for the drinking water. The cemented gaps are also monitored for leaks using measuring devices. Measuring gauges are installed outside the drilling site in case, contrary to expectations, a change in the groundwater composition is registered.

Lithium extraction Lithium

  • Lithium-rich thermal water from the underground in the Upper Rhine Graben is pumped to the surface.
  • The lithium is then extracted from the thermal water using direct lithium extraction by adsorption (A-DLE). This technology has been used commercially since the 1990s .
  • More precisely, the hot thermal water containing lithium is channelled through a type of filter known as a sorbent. The lithium ions remain suspended in this sorbent – the remaining thermal water flows through it.
  • The heat from the thermal water is used to drive the extraction process and to provide renewable heat and electricity. Once both the energy and the lithium have been extracted from the thermal water, it is fed back into the natural reservoir – a closed cycle.

  • The extracted lithium is first purified in a lithium extraction plant. It is then transported in an aqueous lithium chloride solution to a lithium electrolysis plant, where it is processed into the end product lithium hydroxide monohydrate (LHM).
  • The LHM is supplied to the automotive industry via cathode and battery cell manufacturers and used for the construction of electric vehicles or for renewable energy storage (solar and wind). At the end of the battery life cycle, the lithium can be recycled.

  • At the extraction plant in Landau, we obtain the lithium in the form of a highly concentrated, very pure lithium chloride solution.
  • In this form, the lithium is not yet suitable for further processing in battery factories and is therefore still converted into lithium hydroxide monohydrate (LHM).
  • The process used releases chlorine gas and hydrogen and therefore requires consumers in the immediate vicinity (e.g. via pipeline). The necessary technology and the consumers of the chlorine gas are located in the Höchst Industrial Park near Frankfurt.

  • Vulcan’s extraction method can be described as the safest and cleanest method of extracting lithium.
  • Until now, lithium has mainly been extracted in South America, Australia and China.
    • Raw materials are extracted there by brine evaporation (water containing lithium) or by mining hard rock.
    • These are CO2 -intensive processes that have a major impact on the environment and climate.
  • Lithium extraction from hard rock: energy-intensive, low lithium concentrations, long transportation routes
  • Lithium extraction using brine pools: high water consumption in arid regions, high CO2 footprint due to chemical processes

  • VULSORB® is the in-house sorbent that Vulcan uses to extract lithium from the brine.
  • The aluminate-based sorbent has a higher performance and lower water consumption during lithium extraction compared to commercially available sorbents.
  • VULSORB® can be used in Europe as well as in other brines worldwide.

Learn more

  • No. Lithium extraction is a physical process, which means that only a few reagents are required.
  • As the entire process takes place in a closed circuit, no other substances bound in the thermal water can escape to the outside.

  • Lithium itself is not harmful to the environment. It is found naturally bound in several regions of Germany. In the process used by Vulcan, the lithium is always bound in an aqueous solution, is in a closed circuit and therefore does not enter the environment.
  • Risks only exist if lithium dust occurs. The only process step in which this can occur takes place at Chemiepark Höchst, where the end product lithium hydroxide monohydrate (LHM) is produced. However, we transport this promptly to the battery manufacturers.

  • The Direct Lithium Extraction (DLE) by Adsorption (A-DLE) process used by Vulcan has the lowest water consumption of all lithium extraction processes. As the majority of the water used in the process is recirculated in a closed water circuit.
  • Water consumption was thus reduced to a rate of 1.35 liters per kilogram of lithium hydroxide monohydrate (LHM).
    • By comparison, hard rock mining requires 15 tons of water per ton of LHM, while brine extraction requires 5 tons.

  • According to our projections, we assume that lithium extraction can be operated economically for several dozen years, and heat production for at least 50 years.
  • For competitive reasons, we do not want to provide any specific information on the profitability of lithium extraction.

  • Commercial series production of electric cars using sodium-ion batteries as an alternative to lithium-ion batteries began at the end of 2023. Vulcan believes that sodium-ion batteries have a place in the market. Lithium-ion batteries currently have certain advantages, such as higher energy efficiency and a more mature technology base. Sodium-ion batteries, on the other hand, show advantages in terms of cost and resource availability. However, with regard to their use in e-cars, they are generally used for smaller vehicles with shorter ranges.
  • With technological diversity, we can comprehensively promote innovation and sustainability. In this way, we can ensure that both technologies can coexist and contribute to a successful transition to e-mobility.

  • A-DLE is a method for extracting lithium from brine (thermal water).
  • The technology is already used in 10% of global lithium production – and the trend is rising.
  • The advantages of A-DLE are low operating costs, reduced environmental impact, high product quality and a positive track record.

More on A-DLE

Vulcan Among the population

  • Deep geothermal energy in Germany has the potential to cover over a quarter of Germany’s heating requirements (source Fraunhofer 2022).
  • Currently, there is a strong dependency on imports, particularly in the heating sector; in the mid-term, 60 % of former Russian gas imports could be replaced.
  • CO2 savings of almost 41 million tons per year, price stability and investment security.
  • As deep geothermal energy is available regardless of the time of year and time of day, potential can be leveraged particularly in municipal heat supply, district heating, the housing industry and for the provision of industrial process temperatures.

  • Germany’s energy supply is currently heavily dependent on energy imports
  • Ambitious climate targets and rising energy prices increase the need for a self-sufficient, domestic energy supply
  • Municipalities that use geothermal energy are not only becoming more attractive as technology-friendly and environmentally conscious locations, but in some cases will even be obliged to have a certain proportion of renewable energies in their energy mix in the future.
  • Since geothermal energy can be used to generate not only heat but also cold, it is also possible to meet the increasing demand and reduce dependence on imports.
  • Also the local industry, especially energy-dependent and energy-intensive companies, which have to pay more and more attention to corresponding savings potential due to CO2 pricing, among other things, can be supplied by a possible expansion of the district heating network
  • The operation of the plants creates additional jobs, generates business tax revenue and strengthens the regional and local economy.

  • Vulcan has been communicating via various channels since the start of the projects in 2020
    • Media coverage in print and online.
    • Quarterly, semi-annual and annual ASX and German FSE reports.
    • Social media – communication of current developments via common formats (LinkedIn, Twitter and Instagram).
    • Infocenter in Karlsruhe and Landau, which the public can contact at any time.
    • Information stands at local weekly markets in the region, comprehensive image campaigns in local newspapers.
    • Vulcan’s experts are available to the public at all times via the citizens’ hotline.
  • Example of active public relations work: Accompanying our 3D seismic
    • Not only were all activities reported on in broad information and communication campaigns, but contact was also sought in citizen dialogs.
    • Additional “roadshow” in the Landau region
    • Special focus on local and regional reporting

Our 3D seismic

  • A 3D seismic is a geophysical exploration of the subsurface.
  • Vibro-trucks, which resemble a regular truck, drive along roads and paths in the exploration area. They generate seismic waves that are injected into the ground. These waves are refracted by different layers of rock underground, reflected and recorded by geophones (earth microphones) placed on the earth’s surface.
  • We adapt the measuring network, consisting of measuring and vibro points, to the infrastructural conditions on site (e.g. road network, pipeline networks, nature conservation regulations)
  • By the way: Seismology is the technique of using seismic waves to obtain information about the subsurface, while seismicity describes the observable earthquake activity in a region.

  • The 3D seismic enables a more precise and comprehensive assessment of the geological structures and layering in the subsurface. Using this method, we can locate hot water reservoirs.
  • Only on the basis of this complex data is it possible to determine optimal locations for the sustainable and safe extraction of heat and lithium from thermal water.

  • We also have to lay out geophones and take measurements in places where no power station or drilling site is being built. This is the only way to achieve a comprehensive picture of the subsurface.

  • During the 3D seismic, the vibro-trucks usually only stop at one point for around 5 minutes and then move on. The measurement time in a municipality is therefore very limited.
  • The vibrations of the vehicles are comparable to those of a passing streetcar or a heavy truck. There are no further effects.

  • In general, measuring points on sensitive infrastructure (e.g. bridges or pipelines) are excluded from the measurement where necessary.
  • On soft ground, unsurfaced paths or previously damaged roads, localized damage such as imprints in the unsurfaced paths may occur. Vulcan will repair or compensate for these.
  • To avoid damage, the vibration intensity can also be reduced or measuring points can be omitted completely. This is discussed individually with the affected municipalities and owners for each measuring point.
  • Through constant measurements, we ensure that the vibrations are within the specified DIN range and do not cause any damage.
  • By the way: you can send all reports relating to our 3D seismic to the following e-mail address: seismik@v-er.eu.

  • We comply with all applicable nature conservation regulations from nature conservation authorities. For example, measurements are taken outside the breeding and setting season from October to the end of February.
  • In addition, there is ecological construction supervision, which is active on site to monitor relevant areas.
  • By the way: Vulcan is generally committed to more environmental protection and nature conservation. In spring 2023, for example, a lapwing breeding program was supported by the Karlsruhe Zoo’s species conservation foundation.

Safety and groundwater protection Drilling site and drillings

  • Using the data from the successfully completed 3D seismic, we can identify optimal locations for geothermal drilling.
  • We always select the location in such a way as to minimize interference with nature and the impact on the surrounding area and residents.

  • As soon as the drilling site has been set up, the drilling rig has been erected and the drill pipe is ready, drilling begins.
  • The standpipe is only 30 to 40 meters deep. Smaller tubes, which are inserted into each other, follow. They are sealed against each other to protect the groundwater. The wells are then drilled vertically to a depth of around 1,000 meters before being deflected and guided at an angle into the permeable reservoir.
  • During the drilling process, various experts are on hand to ensure that the drilling is carried out safely and to monitor the individual work steps.
  • When the desired end point of the drilling is reached, several tests are carried out. Once successfully completed, the system is prepared for commissioning.

  • Borehole design: The pipes that protect the borehole and the area around the borehole are usually even stronger than those used for oil wells. Furthermore, the diameters of the boreholes in the upper area are usually larger in order to improve the production rate and increase the heat output.
  • Objective: The objective of oil drilling is to extract oil and/or gas. Crude oil is one of the most important raw materials in industry and is primarily used as a fossil fuel. The main aim of a geothermal borehole is to use the heat stored in the earth either directly or to convert it into electricity.
  • Handling: Both drillings use rigs and specialized drilling techniques, but the specific approach, materials and technologies may differ. While in the case of oil deposits the raw material is extracted from the ground, at least two boreholes are always drilled for geothermal projects in order to return the thermal water to the ground.
  • Environmental impact: The extraction and use of crude oil is now being viewed more critically due to its impact on people and the environment. Geothermal energy is a renewable energy source and is therefore considered much more environmentally friendly than oil drilling.

  • Fracking is only permitted in Germany for research purposes under strict conditions and is not used by Vulcan.
  • The reservoirs for the thermal water on the Upper Rhine are located in particularly permeable rock layers (shell limestone and red sandstone), making fracking, which is mainly used to tap into impermeable rock layers, unnecessary.

  • The planning of a drilling is designed in such a way that seismic events are avoided. For example, drilling fluid is used which does not react with the surrounding rock. This prevents the formations from showing unwanted reactions.
  • In contrast to gas production, for example, the water produced in geothermal energy is recycled – so there is no significant difference in the volume balance. This significantly reduces the risk of earthquakes.
  • Due to the geological characteristics of the Upper Rhine Valley Graben, seismic events are more likely to be caused by natural geological processes than by a drilling operation.

  • The drill holes do not create cavities that could collapse and cause subsidence on the surface.
  • The thermal water is extracted from fissures and pores in the sandstone, where the diameter of the borehole decreases with increasing drilling depth.
  • In contrast to mining and oil production, the use of deep geothermal energy does not involve the permanent extraction of soil resources. Once the heat has been extracted, we return the extracted thermal energy to the same reservoir.

  • The thermal water in the Upper Rhine Graben contains dissolved radioactive elements due to the underlying bedrock deep underground. However, measurements in geothermal plants have shown that radioactivity is practically negligible.
  • The radioactive concentrations in the thermal water are so low that a protective distance of a few centimeters from the pipes carrying thermal water on the company premises is sufficient to prevent exposure.
  • The system components are marked on the floor. Radioactivity can only accumulate in the heat exchangers, for example, if precipitation occurs.
  • Over time, it has been possible to reduce the amount of these deposits further and further. The residues are removed during the annual inspection in compliance with all prescribed safety precautions for the protection of employees and disposed of in accordance with an approved disposal route.

  • Although the aquifers are drilled through during the three to four kilometer deep geothermal drilling, the contact of hot thermal water and groundwater is prevented by several barriers and protective measures.
  • Before drilling, we document the normal composition of the groundwater. During drilling, measurements are taken continuously in order to be able to react immediately to changes.
  • For further groundwater protection, we drill the boreholes telescopically, which means that several steel pipes are inserted into each other and the gaps between them are completely sealed with cement. The innermost steel tube has an additional anti-corrosion coating.
  • We check the pipework at regular maintenance intervals. This is done, for example, by ultrasound measurements, gamma ray detection and camera inspection.

  • By regularly monitoring various parameters in the deep borehole, we can detect defects at an early stage.
  • In addition, a network of measuring points in the near-surface aquifer can help to ensure that any seepage of thermal water into near-surface aquifers can be detected at an early stage and suitable countermeasures can be initiated.
  • A chemical analysis of the thermal water before commissioning also allows a detailed risk assessment to be carried out, enabling us to adapt the monitoring concept accordingly.

  • No, but the drilling fluid differs in composition in the upper and lower parts of the borehole.
    • The drilling fluid in the upper part is based on bentonite. On the one hand, it serves to convey the rock abrasion to the surface and to stabilize the borehole. It is also used for rotating and cooling the drill bit.
    • In the lower part, the reservoir area, the drilling fluid is usually based on potassium salt. The salt is used to increase the density of the drilling fluid.

  • The groundwater and the drilling itself are permanently monitored during the operation of the drilling site.
  • We are equipping the site with its own drainage system, which is independent of the public sewage system. As in all commercial operations, waste water is collected, analyzed at regular intervals and disposed of properly if necessary.
  • Once a plant has been decommissioned, the boreholes are sealed with concrete (“cement”) and abandoned.

Construction and operation of a Geothermal plant

  • The size of a geothermal power plant depends on various factors. The two most important are the capacity of the power plant and the form of the energy generated.
    • The capacity refers to the amount of energy that the power plant can generate. A larger power plant has a higher capacity and can therefore generate more energy.
    • The intended use refers to the type of energy generated by the power plant. Power plants that generate heat are much more compact than power plants that generate electricity.
  • By the way: A special feature is that extraction sites, geothermal plants and lithium extraction plants can be connected with pipelines and therefore do not have to be built at the same location. This also makes the plant sizes more flexible.

There is no danger from a lithium extraction plant.

  • Thermal water and industrial water are used, both in closed circuits.
  • The process as such can be classified as non-critical, as it is merely a sorption process, a physical process.
  • For the ion exchanger we need hydrochloric acid (0.3 t/h) and sodium hydroxide solution – these substances and processes are state of the art and are non-toxic, non-flammable and non-carcinogenic.

  • Geothermal systems are comparatively quiet due to the process and also in comparison with other commercial systems.
  • It is under constant surveillance.
  • It is located in an isolated area and therefore does not cause any additional lighting at night.

  • Steam is only generated when the system is started up and heats up again, e.g. after maintenance.
  • In older plants, such as the plants in Landau and Insheim, steam is actually released over several hours when the plant is started up.
  • This is almost pure water vapor, which poses no danger. In new plants, such as those planned by Vulcan, no steam will escape during start-up.

  • The operation of a geothermal power plant can lead to induced seismicity, which is why seismic monitoring is required by the mining authorities for geothermal projects.
  • The ground vibration velocities are continuously measured and evaluated at various points around the power plant.
  • The aim of monitoring is to keep vibrations below the threshold of perceptibility, but in any case below the damage threshold.
  • In the event of increased seismic activity, a response plan prescribed by the mining authorities comes into force. Depending on the magnitude of the measured ground vibration velocities and the frequency of occurrence, appropriate measures are initiated which can even lead to the power plant being shut down. In over 10 years of operation of the Insheim geothermal power plant, stage 2 according to the reaction matrix has not been reached.
  • In addition, an independent expert draws up a monthly report on the measured ground vibration velocities. This is submitted to the supervisory authority and the State Office for Geology and Mining. In addition, measured events can be viewed on the operator’s homepage.

  • The following link leads to a page on which Vulcan provides the public with access to the ground vibration velocity with measuring stations around the Insheim geothermal power plant: https://eg.dmt.de/IG/GEO_I/GEO_I.xml

  • First of all, the recirculated water is not “cold”, but still has residual heat. Im Geothermiekraftwerk in Insheim sinkt die Temperatur des Thermalwassers beispielsweise von etwa 163 auf 74 Grad Celsius ab.
  • Cooling can cause the rock underground to contract in the immediate vicinity of the water return borehole. However, due to the low thermal expansion coefficients of the rock, it is very low and lies below the perception threshold.
  • Temperature changes in the subsurface can generally lead to stress changes and contribute to the triggering of imperceptible earthquakes. However, we can predict these effects in advance using modern numerical model calculations.

Zero Carbon Lithium™ Project About Vulcan

  • The ZERO CARBON LITHIUM™ project aims to both decarbonize lithium production and provide renewable energy from deep geothermal energy on a large scale. The company has been listed on the Australian Stock Exchange since 2018 and also on the Frankfurt Stock Exchange since the beginning of 2022.
  • Vulcan Energie Ressourcen GmbH has been represented on the German market as a subsidiary of Vulcan Energy Resources Ltd. since 2019.
  • Dr. Francis Wedin and Dr. Horst Kreuter founded the company in 2018 to counteract existing dependencies on lithium imports and establish climate-neutral lithium production in Europe.

  • Our goal: We will enable a climate-neutral future.
  • Our mission: We will be the world’s first producer of climate-neutral lithium while simultaneously producing renewable energy, thereby enabling energy security.

Learn more

  • The Vulcan Group covers the entire geothermal value chain and the downstream submarkets. Vulcan Group manages the company’s activities through the parent holding company (Vulcan Energy Resources Ltd) in Australia and the German subsidiary Vulcan Energie Ressourcen GmbH.
  • The Vulcan Group also includes other German companies such as Vulcan Energy Subsurface Solutions GmbH (VESS), Vercana GmbH, Vulcan Energy Engineering GmbH (VEE) and Natürlich Insheim GmbH. In January 2023, Vulcan took over Comeback Personaldienstleistungen GmbH, which gives Vulcan access to qualified personnel from the drilling industry.

Learn more

  • Vulcan employs leading international experts in the field of deep geothermal energy and lithium extraction.
  • The geothermal energy and power plant/heating and cooling systems sector is covered by two subsidiaries, Vulcan Energy Subsurface Solutions GmbH and Vulcan Energy Engineering GmbH, which have over 15 years of experience. Vulcan has been producing green electricity at the geothermal power plant in Insheim since January 2022.

  • The Upper Rhine Graben is a large, approximately 300 km long graben system, which has consistent geothermal lithium reservoirs in the sedimentary rock.
  • Vulcan currently has 16 licenses in the Upper Rhine Graben Brine Field (URVBF) with a total area of 1,790 km2, making it Europe’s largest lithium resource.

Learn more

  • Vulcan started its financing program at project level with debt and equity at the end of 2023.

  • For lithium: Umicore, LG Energy Solution, Stellantis, Volkswagen, Renault Group.
  • For heating: MVV Energie Mannheim.

  • Vulcan is targeting phased growth: Phase One of the project begins in the core of the project area where Vulcan already has production/re-injection wells in operation.
  • The development area is therefore located around the existing production facility in the region around Landau, Rhineland-Palatinate. Vulcan is aiming for integrated operations for both renewable energy and lithium. This is located in the immediate vicinity of the Vulcan partners.
  • Project Phase One focuses on proven reserves of 318,000 tons of lithium carbonate equivalent (LCE) for years 0-15 of production, then probable reserves of 252,000 tons of lithium carbonate equivalent (LCE) for years 16-30.

Vulcan plans to start commercial scale lithium production by the end of 2026.