Vulcan Energy (ASX:VUL) has received a permit to build its upstream lithium extraction plant for the Phase One Lionheart Project in Germany, with all major construction permits now secured.
The lithium extraction plant (LEP) forms part of the integrated commercial geothermal and LEP (G-LEP) and will be constructed next to the geothermal power plant.
Vulcan, which has a market capitalisation of $1.57 billion, will use intermediate heat exchangers at each of its well sites to transfer heat from geothermal brine into a closed-loop industrial waste cycle. Once the heat is used, the cooled water is recirculated back to the heat exchanger for re-heating.
CEO Cris Moreno says securing the permit means the company is one step closer to producing battery-quality lithium products from the same geothermal brine that is used to produce renewable energy for local use.
“We are establishing a sustainable, domestic, and cost-effective source of lithium for the European battery and automotive industries, supporting the EU’s goal of reducing critical raw material dependencies,” Moreno says.
From the LEP, Vulcan will transport the lithium chloride solution to a downstream commercial central lithium plant in Frankfurt.
Lionheart will have capacity to produce 275 gigawatt per hour of power, 560 gigawatt per hour of heat, and 24,000 tonnes of lithium hydroxide – equivalent to power 500,000 electric vehicles per year.
Vulcan Energy is focused on its integrated lithium and renewable energy project to decarbonise battery production.
Write to Aaliyah Rogan at Mining.com.au
Images: Vulcan Energy
