Vulcan and Stellantis sign agreement to support decarbonisation of Rüsselsheim auto manufacturing facility with geothermal energy
EQS-News: Vulcan Energy Resources Limited
/ Key word(s): Alliance
Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL, the Company) has signed a Binding Term Sheet (“BTS”) with Stellantis for the first phase of a multiphase project aimed at decarbonising the energy mix of the Rüsselsheim manufacturing site in the Upper Rhine Valley, Germany, by developing new geothermal projects.
Highlights
“This partnership with Vulcan reinforces our commitment to promoting greater clean energy solutions across our enterprise,” said Stellantis CEO Carlos Tavares. “It is one of many actions we’ve taken to drive results, impact, and sustainability in alignment to our Dare Forward 2030 strategic plan.” "I am happy about the partnership of Stellantis, and Vulcan Energy announced today,” said Boris Rhein, Minister President of Hesse. “This is positive news for Hesse because it shows that in our state, climate protection and state-of-the-art industrial production through innovative ideas are perfectly compatible.” Vulcan’s Managing Director and CEO, Dr. Francis Wedin, said, “Vulcan’s core mission is decarbonisation, through carbon neutral, zero fossil fuels lithium and renewable energy supply. Vulcan is here to support Stellantis, our largest lithium Customer and one of our major shareholders, to decarbonise Stellantis’ automotive production in Europe. This further increases our decarbonising impact on the European electric vehicle industry, complementing the carbon avoidance from our Zero Carbon Lithium™ Project, whilst creating shareholder value. We remain focused on our core geothermal-lithium developments in the centre of the Upper Rhine Valley Brine Field, to service our customers, including Stellantis. Our joint Project is a complementary opportunity to expand our development pipeline to some of the outer lying areas in the Upper Rhine Valley, where we can also test for extensions to our lithium development, supported by industrial partners like Stellantis.”
Rüsselsheim is within the Upper Rhine Valley
Material Terms of the Agreement
About Stellantis Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA) is one of the world’s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today’s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys. Powered by our diversity, we lead the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit www.stellantis.com
About Vulcan Founded in 2018, Vulcan’s unique Zero Carbon Lithium™ Project aims to decarbonise lithium production, through developing the world’s first carbon neutral, zero fossil fuels business, with the co-production of renewable geothermal energy on a mass scale. By adapting existing technologies to efficiently extract lithium from geothermal brine, Vulcan aims to deliver a local source of sustainable lithium for Europe, built around a net zero carbon strategy with strict exclusion of fossil fuels. Already an operational renewable energy producer, Vulcan will also provide renewable electricity and heat to local communities. Vulcan’s combined geothermal energy and lithium resource is the largest in Europe, with license areas in the Upper Rhine Valley, Germany, and Italy. Strategically placed in the heart of the European electric vehicle market to decarbonise the supply chain, Vulcan is rapidly advancing the Zero Carbon Lithium™ Project to ensure timely market entry, with the ability to expand to meet the unprecedented demand that is building in the European markets. Guided by our Values of Integrity, Leadership, Future-focused and Sustainability, and united by a passion for environmentalism and leveraging scientific solutions, Vulcan has a unique, world-leading scientific and commercial team in the fields of lithium chemicals and geothermal renewable energy. Vulcan is committed to partnering with organisations that share its decarbonisation ambitions and has binding lithium offtake agreements with some of the largest cathode, battery, and automakers in the world. As a motivated disruptor, Vulcan will leverage its multidisciplinary expert team, leading geothermal technology and position in the European EV supply chain to be a global leader in producing zero fossil fuel, carbon neutral lithium while being nature positive. Vulcan aims to be the largest, most preferred, strategic supplier of lithium chemicals and renewable power and heating from Europe, for Europe; to empower a net zero carbon future. For more information, visit www.v-er.eu
Disclaimer Some of the statements appearing in this announcement may be in the nature of forward-looking statements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties. Those risks and uncertainties include factors and risks specific to the industries in which Vulcan operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forwardlooking statement. No forward-looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Vulcan’s control.
Vulcan does not undertake any obligation to update publicly or release any revisions to these forwardlooking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Vulcan, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as at the date of this announcement. This announcement is not an offer, invitation or recommendation to subscribe for, or purchase securities by Vulcan. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision.
17.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Vulcan Energy Resources Limited |
Level 11, Brookfield Place, 125 St Georges Terrace | |
6000 Perth | |
Australia | |
E-mail: | dtydde@v-er.eu |
Internet: | www.v-er.eu |
ISIN: | AU0000066086 |
WKN: | A2PV3A |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1536921 |
End of News | EQS News Service |
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1536921 17.01.2023 CET/CEST