Vulcan Energy has entered into an offtake agreement with a subsidiary of Glencore, the multinational natural resources company. The agreement will see Vulcan supply battery-grade lithium hydroxide monohydrate (LHM) from its Lionheart project, situated in Europe. The project is designed to support significant electric vehicle battery production. Vulcan Energy aims to decarbonise the transition to electric vehicles.
The Lionheart project is expected to boast an annual production capacity of 24,000 tonnes of LHM. This output is reportedly sufficient to power approximately 500,000 electric vehicle batteries each year. The project will have the capacity to produce 275 GWh of power. This agreement marks a key step in Vulcan’s strategy to establish itself as a major lithium supplier in the European market.
Vulcan Energy Resources is focused on producing battery-quality lithium hydroxide from geothermal brines. Glencore is one of the world’s largest globally diversified natural resource companies and a major producer and marketer of more than 60 commodities.
