Vulcan Energy has awarded a contract to a consortium of Turboden and ROM Technik for the development and construction of a geothermal power plant near Landau, Germany. The Lionheart Project aims to produce both renewable energy and lithium hydroxide. Vulcan Energy is focused on producing lithium hydroxide from geothermal brines. The company’s unique Zero Carbon Lithium process aims to extract lithium with net zero greenhouse gas emissions.
The Lionheart Project is projected to have a capacity of 275 gigawatt-hours of power generation alongside 24,000 tonnes of lithium hydroxide production annually. This level of lithium production is estimated to be sufficient for the manufacture of approximately 500,000 electric vehicles each year, making a significant contribution to the supply chain for electric vehicle manufacturers.
The contract is structured on a fixed lump-sum turnkey basis, providing Vulcan Energy with cost certainty for this phase of the project. The total value of the contract is €110 million, which is equivalent to approximately $179 million in Australian currency. This agreement marks a significant step forward for Vulcan Energy’s strategic goals in the European market.
The development of the Lionheart Project reflects Vulcan Energy’s commitment to combining renewable energy production with the extraction of valuable battery materials. By leveraging geothermal resources, the company aims to reduce the environmental footprint associated with traditional lithium production methods.
