Why is the Landau City Council's decision crucial for Vulcan Energy Resources?
Vulcan Energy Resources Limited
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Why is the Landau City Council's decision crucial for Vulcan Energy Resources?

Landau City Council's Favorable Decision Paves the Way for Vulcan's Geothermal and Lithium Extraction Plant

Vulcan Energy Resources Limited (ASX: VUL, FSE: VUL), a prominent player in the renewable energy and lithium extraction sector, has secured a crucial victory with the Landau City Council's recent approval. The decision greenlights the construction of Vulcan's innovative integrated Geothermal renewable energy and Lithium Extraction Plant (G-LEP). Here's a closer look at this significant development.

A Landmark Agreement

Vulcan Energy Resources has received the Landau City Council's unanimous approval to execute an agreement that allows the company to proceed with the construction of Phase One of the Geothermal renewable energy and Lithium Extraction Plant (G-LEP). The land designated for this project is situated in the Landau region.

The acquisition of this land is imminent, pending the satisfaction of pre-agreed conditions and the formalization of the purchase agreement.

The chosen location for the project is within the planned Landau commercial park known as "Am Messegelände Südost.

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Strong Local Support

The positive vote from the Landau City Council underscores the enthusiastic backing of the City of Landau for the project. The G-LEP project is recognized for its substantial local social and environmental benefits.

Strategic Land Acquisition

Securing this land is a significant stride toward finalizing the land packages required for Phase One of the project. This addition complements the land already secured at the Industrial Park Frankfurt Hoechst for the Central Lithium Plant (CLP), underscoring Vulcan Energy Resources' remarkable progress toward Phase One's completion.

Timing is Key

This decision comes on the heels of Vulcan's recent inauguration of the Lithium Extraction and Optimization Plant (LEOP) in Landau. It aligns with the early stages of Vulcan's project-level Phase One financing, which commenced at the end of November.

A Bright Future for Phase One

Vulcan's Phase One commercial operation is strategically focused on achieving a lithium hydroxide production capacity of 24,000 tonnes per annum. This output is intended to serve the burgeoning European battery electric vehicle supply chain.

Cris Moreno's Perspective

Cris Moreno, Vulcan's Managing Director and CEO, expressed his satisfaction with the Landau City Council's decision. He highlighted the significance of this development for the execution of Phase One of the ZERO CARBON LITHIUM™ Project. Moreover, Moreno emphasized the progress made in facilitating a sustainable end-to-end Battery Electric Vehicle supply chain in Europe, made possible through collective stakeholder engagement.

Moreno described the decision as a substantial de-risking event for Phase One. He outlined the immediate goals, including the production of the first lithium tonnes to specification from the Optimisation Plants in Q1 2024 and the finalization of project-level Phase One financing by the end of Q2.

A Positive Move Forward

On December 12, the Landau City Council's formal approval paved the way for Vulcan to embark on the construction phase of its Phase One ZERO CARBON LITHIUM™ Project, inclusive of the integrated G-LEP. This strategic land acquisition within the planned Landau commercial park "Am Messegelände Südost" sets the stage for a significant leap in Vulcan Energy Resources' pursuit of sustainable energy solutions and a greener future.

Lithium-rich brine and hot industrial water will be channeled to Vulcan's G-LEP facilities in the Landau commercial park, where the industrial water will provide carbon-neutral heat, generating green energy that will benefit the local Landau community and the surrounding region. Within the Lithium Extraction Plant, lithium will be extracted from the brine before being returned to the subsurface in a closed-loop system. The lithium chloride produced will be transported to the Industrial Park in Hoechst for conversion into lithium hydroxide.

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