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Vulcan Energy Resources Limited (ASX:VUL)

ALERT: Price-sensitive ASX Announcement for VUL
Current share price for VUL : $2.560 -1 (-28.09%)+
Announcement
Release
28 May 2026 8:25AM
Price at Release
$3.560
Full Release
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Summary
Vulcan Energy Resources Limited has reached financial closure for its €2.2 billion Lionheart Project, designed to establish an integrated lithium and renewable energy production facility in the Upper Rhine Valley between Germany and France. This marks a significant milestone in Vulcan's strategic plan, enabling the construction of facilities expected to produce 24,000 tonnes of lithium hydroxide monohydrate annually, sufficient for approximately 500,000 electric vehicle batteries, along with substantial renewable energy co-products. The financing was supported by European and German governmental agencies, commercial banks, and strategic partners. The company aims to deliver the project on schedule and within budget, with construction already underway following a positive Final Investment Decision in December 2025.
Key Points
  • Vulcan's Lionheart Project reaches financial close.
  • Lionheart Project is backed by a €2.2bn financing package.
  • The project targets production of 24,000 tonnes of lithium hydroxide annually.
  • The project will also produce 275 GWh of renewable power and 560 GWh of heat.
  • Located in the Upper Rhine Valley, it enhances energy and raw material resilience in Europe.
  • Support comes from European and German government agencies and banks.
  • Financial close allows access to remaining funds under ongoing conditions.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.