EQS-News: Vulcan Energy Resources Limited
/ Key word(s): Financing
Vulcan achieves key step towards implementation of debt financing for Phase One
Vulcan Energy Resources Limited (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to provide an update on the Company's debt financing process for Phase One of the ZERO CARBON LITHIUMTM Project ("the Project"). Key debt financing highlights
Managing Director and CEO Cris Moreno stated: "This pivotal stage towards securing financing for Phase One of Vulcan's Project marks a key milestone in our mission to become Europe's leading integrated lithium and renewable energy producer. "As we broaden the lending pool to include additinal commercial banks, we remain confident the strong interest and support we've received thus far will lead to the successful completion of our debt financing process, enabling us to accelerate the delivery of Europe's green energy and mobility transition."
About Vulcan Founded in 2018, Vulcan's unique ZERO CARBON LITHIUM[1] Project (the Project) aims to decarbonise lithium production, through developing the world's first carbon neutral lithium 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 carbon neutral strategy with exclusion of fossil fuels from the process to produce lithium. 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 estimated to be the largest in Europe on a lithium carbonate equivalent (LCE) basis[2], with licence areas focused on the Upper Rhine Valley, Germany and France. 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 target 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 Climate Champion, Determined and Inspiring, and united by a passion for the environment 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. Vulcan aims to leverage its multidisciplinary expert team, leading geothermal technology and position in the European EV supply chain to be a global leader in producing carbon neutral lithium. Vulcan aims to be the supplier of choice for premium lithium chemicals and renewable power and heating from Europe, for Europe; to empower a carbon neutral future.
Corporate Directory Executive Chair Dr. Francis Wedin Managing Director and CEO Cris Moreno Group Chief Financial Officer Felicity Gooding Deputy Chair Gavin Rezos Non-Executive Director Ranya Alkadamani Non -Executive Director Angus Barker Non-Executive Director Josephine Bush Non-Executive Director Dr. Heidi Grön Non-Executive Director Dr. Günter Hilken Chief Representative GER Dr. Horst Kreuter Company Secretary Daniel Tydde
Daniel Tydde | Company Secretary
Australia: Judith Buchan, Communications Lead APAC | jbuchan@v-er.eu | +61 411 597 326 International: Annabel Roedhammer, Vice President Communications | aroedhammer@v-er.eu | +49 (0) 1511 410 1585 Please contact Vulcan's Legal Counsel Germany, Dr Meinhard Grodde, for matters relating to the Frankfurt Stock Exchange listing on mgrodde@v-er.eu.
Reporting calendar
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 forward-looking 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 forward-looking 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.
[1] Please see page 13 of the 2023 Sustainability Report for how we define ZERO CARBON LITHIUMTM [2] According to public, JORC-compliant data. See Appendix 4 of Vulcan's announcement "Managing Director's 2023 AGM Presentation" dated 29 May 2023 for comparison information. 08.10.2024 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 2,267 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: | 2004327 |
| End of News | EQS News Service |
2004327 08.10.2024 CET/CEST
