Vulcan Energy Resources Announces Promising Bridging Study for Zero Carbon Lithium Project
November 16, 2023
Project Overview and Capacity Targets
Vulcan Energy Resources has released the results of its Bridging Engineering Study for the initial phase of its Zero Carbon Lithium Project. The project aims to be the first integrated renewable geothermal energy and lithium hydroxide producer with net zero greenhouse gas emissions, thereby supporting Europe's lithium supply chain for battery electric vehicles (BEVs).
Key Highlights of Phase One
- Phase One of the project targets a production capacity of approximately 24,000 tonnes of lithium hydroxide per annum. This is expected to be sufficient for around 500,000 BEVs each year.
- The project aligns with the EU and German policies that focus on vertical integration of the battery supply chain and domestic sourcing of Critical Raw Materials. This includes adherence to initiatives such as the Green Deal Industrial Plan and Critical Raw Materials Act.
Strategic Importance for EU's Automotive Industry
By producing lithium hydroxide with net zero greenhouse gas emissions, the project is set to contribute to the region's sustainability goals and reduce reliance on imported materials.
