Vulcan Energy’s (ASX:VUL) technology and equipment partner JordProxa, has secured €140 million ($252.67 million) in contracts for the phase-one Lionheart Project in Germany.
The contracts include design, fabrication, modularisation, and delivery of the core process units for lithium extraction, purification, and concentration at the lithium extraction plant via absorption-type direct lithium extraction process and conversion at the Central Lithium Plant.
JordProxa will be a major contract supplier and deliver an integrated scope across Lionheart.
The scope will cover the core extraction, purification, crystallisation and evaporation technologies required to transform lithium-rich eluates into high-purity lithium hydroxide monohydrate (LHM) for use in battery electric vehicles.
Vulcan, which has a market capitalisation of $1.67 billion, aims to finalise the contracts, together with additional project and financing agreements, during the current quarter.
As part of the deal, JordProxa is subject to a detailed performance testing and guarantee regime, with accompanying liquidated damages payable on both delay in delivery and underperformance of the goods.
The Lionheart Project will have a capacity to produce 275 gigawatt-hours of power and 24,000 tonnes of LHM – enough to support 500,000 electric vehicles per year.
Vulcan Energy is focused on bundling a carbon neutral, integrated lithium and renewable energy business to decarbonise battery production.
JordProxa delivers custom engineered solutions to produce a wide range of ultra-pure battery chemicals by integrating advanced water treatment, purification, evaporation, and crystallisation technologies.
Write to Aaliyah Rogan at Mining.com.au
Images: Vulcan Energy
