Vulcan Energy Resources Ltd. ( (AU:VUL) ) has provided an announcement.
Vulcan Energy Resources Ltd. has completed the acquisition of geox GmbH, consolidating its upstream Phase One renewable energy assets, including geothermal wells and a geothermal and lithium license in Landau, Germany. This acquisition is a strategic move to streamline operations and enhance the company’s Phase One Lionheart Project, which aims to produce lithium for battery chemicals and renewable energy for local consumers. The project has received a €100 million grant from the German Federal Government, and Vulcan plans to commence renewable heat supply operations to the City of Landau next week.
More about Vulcan Energy Resources Ltd.
Vulcan Energy Resources Ltd. operates in the renewable energy sector, focusing on geothermal energy and lithium extraction. The company is involved in producing lithium for battery chemicals and providing renewable energy to local consumers, with a market focus on European offtake partners.
YTD Price Performance: -22.06%
Average Trading Volume: 978,707
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$907.3M
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