Vulcan Energy Resources Limited
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What is Vulcan Energy Resources' Lithium Project Bridging Study?
Vulcan Energy Resources Limited (Vulcan; ASX: VUL) has released the results of its Bridging Engineering Study for Phase One of the Zero Carbon Lithium™ Project. This initiative plans to be the first integrated supplier of renewable geothermal energy and lithium hydroxide with net-zero greenhouse gas emissions. The project aims to secure Europe's lithium supply chain and meet the critical raw material needs of the EU's battery electric vehicle (BEV) industry.
Meeting EU's Battery Electric Vehicle Demand
The project aims to produce roughly 24,000 tonnes of lithium hydroxide per year from Phase One. This production capacity can produce enough lithium for around 500,000 BEVs per year. The Zero Carbon Lithium™ Project aims to align with EU and German policy, which prioritizes greater vertical integration of the battery supply chain and onshoring of Critical Raw Materials. This includes the Green Deal Industrial Plan and Critical Raw Materials Act.
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Providing Affordable, Baseload Renewable Energy and Employment Opportunities for Local Communities
Vulcan's Zero Carbon Lithium™ Project aims to provide renewable energy resources for local community district heating and internal consumption. The initiative aims to co-produce up to 560 GWh per year of baseload renewable heat and up to 275 GWh per year of baseload renewable power. The latter will be sold to the grid at Feed-in Tariff rates.
The project aims to create thousands of direct and indirect jobs during construction and operation, linked to the energy transition, decarbonization, and electrification of transport.
Implications of the Bridging Engineering Study
Vulcan's Bridging Engineering Study results indicate that the Zero Carbon Lithium™ Project has the following advantages:
Reduced CAPEX (capital expenditure)
Reduced risk
Low cost
Robust financials
Ready for execution
These benefits make the Zero Carbon Lithium™ Project well-positioned to provide strategic solutions for Europe's battery electric vehicle critical raw material needs. The alignment with EU and German policy ensures that the initiative complements ongoing efforts towards environmental protection and circular economy initiatives.
Conclusion
Vulcan Energy Resources Limited's Bridging Engineering Study for the Zero Carbon Lithium™ Project is a critical step in securing Europe's lithium supply chain and meeting BEV critical raw material needs. The project's alignment with EU and German policy and its production capacity for lithium hydroxide make it a vital initiative towards achieving circular economy goals. Through its provision of renewable energy and job opportunities, the initiative can support local communities' economic and social development.
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