Vulcan Energy Resources secures additional 5 geothermal licenses in Germany
Australian Vulcan Energy Resources has secured five additional geothermal exploration licenses on the German side of the the Upper Rhine Valley.
In a release this week, Australian/ German Vulcan Energy Resources announces that it has secured additional geothermal exploration licenses in the Upper Rhine Valley in Germany.
The licenses cover 325 square km of area, which the company considers promising for deep geothermal and lithium brine. With these new licenses, the company increases its total granted licenses to over 1,000 square km.
Vulcan’s license holding stretches across three German states in the Upper Rhine Valley, with the latest licenses in the states of Rhineland-Pfalz complementing existing licenses in this state, as well as in Hessen and Baden-Württemberg.
The Company is targeting completion of its Phase 1 Definitive Feasibility Study (DFS) in H2 2022 and first commercial production of lithium by 2024. With its recent announcement on the acquisition of the Insheim geothermal plant and several Lithium offtake agreements, the new licenses will potentially provide a larger pipeline of projects for Vulcan to integrate further production capacity and additional project areas into its Lithium extraction plans.
Vulcan’s Managing Director Dr. Francis Wedin commented: “These new exploration licenses give us significant potential to further scale up our project as the market continues to grow, whilst also meeting the increasing demand for renewable heat and power. The new exploration licenses are consistent with our strategy to leverage the unique experience of our inhouse team, notably the geological expertise of our in-house geothermal engineering and geology company GeoT, to identify areas which have potential for combined geothermal renewable energy and lithium developments in the Upper Rhine Valley.”
“It is encouraging to see license approvals progressing efficiently, in line with the German State Governments’ commitment to expedite planning and approval timelines for new renewable energy projects and their general support for sustainable approaches to lithium production and deep geothermal energy technologies.”
Source: Company release
