Laying of the foundation stone: Vulcan builds lithium electrolysis plant in Frankfurt Höchst

Karlsruhe, 20 September 2023. On Wednesday 20 September, Vulcan, headquartered in Karlsruhe, Germany, solemnly performed the groundbreaking ceremony for the Central Lithium Electrolysis Optimisation Plant (CLEOP) at Frankfurt's Höchst Industrial Park. The plant will convert lithium chloride into lithium hydroxide monohydrate - the company's end product, which will subsequently be used in battery production.

Vulcan is currently developing deep geothermal projects in the Upper Rhine Graben to extract climate-neutral lithium for the European automotive industry and to provide renewable energy for the region. The company plans to extract lithium from the hot thermal water of the Upper Rhine Graben using deep geothermal energy. The first step in the process is to produce a lithium chloride solution. This is then converted into the end product, lithium hydroxide monohydrate.

The conversion step is to take place in the long term in a Central Lithium Plant (CLP) at Industriepark Höchst. During the construction phase of the final plant, the CLEOP will serve the company to optimise the operating conditions. The CLEOP consists essentially of two parts. On one hand, the building, designed as a lightweight industrial hall. The other is the interior, which consists entirely of prefabricated plant components (mounted on steel skids). All plant components have already been assembled outside Frankfurt and are on their way to Frankfurt for integration.

About Vulcan Energy Resources Ltd

Vulcan was founded in 2018 and aims to decarbonise the entire European lithium supply chain with the Zero Carbon Lithium ™ project. Vulcan aims to provide the European automotive and battery industry with the world's first carbon neutral lithium while generating renewable energy through deep geothermal energy. Vulcan already produces renewable energy for thousands of homes and will continue to provide renewable energy in the form of electricity and heat to local communities. Vulcan's licence areas are concentrated in the Upper Rhine Graben and represent the largest combined geothermal and lithium resource in Europe. Vulcan's project is strategically located in the heart of the European electric vehicle market. The company is currently advancing its projects rapidly to achieve timely market entry and meet the immense demand for lithium in the European market. The entire team at Vulcan continues to develop the projects with determination and passion for environmental protection and the use of technological solutions. The company's team is made up of leading scientists and people experienced in commercial production in the field of lithium extraction and the provision of renewable energy through deep geothermal energy. Vulcan aims to continue to partner with companies and organisations that also want to drive decarbonisation. The company already has binding lithium offtake agreements with some of the world's largest cathode, battery and automotive manufacturers, including Stellantis, VW, Umicore and LG. Vulcan's goal is to be a global leader in sustainable, carbon neutral lithium production and renewable energy. Together we can create a CO2 -neutral future!