Vulcan, a lithium chemicals and renewable energy company, has made significant progress on its integrated lithium and geothermal energy projects, targeting low-cost production and sustainable development. The company’s principal ESG development involves the integration of lithium extraction and renewable geothermal energy from the same source, in the same place, across multiple projects.
Material Actions and Disclosures
Vulcan has a Tier One Resource of 29.8 million tonnes of lithium carbonate equivalent (LCE) in central Europe. The company aims to develop approximately 26% of this resource for two projects, targeting a combined 45,000 tonnes per annum (ktpa) of lithium chemicals, 275 gigawatt-hours (GWh) of renewable power, and 3,400 GWh of heat annually over 30-year mine lives.
The company’s Project Lionheart is on schedule and within budget, with commercial-scale VULSORB® production commenced. Initial equity drawdowns and grant disbursements have been received, reflecting continued financier satisfaction with the project’s progress, schedule, and budget execution.
Forward Commitments
Vulcan aims to leverage the same development blueprint for future projects to enable growth capital efficiencies. The company’s strategic pillars include delivering Phase One Lionheart on time and on budget, establishing A-DLE technology, and maintaining best-in-class health, safety, and environmental (HSE) performance.
Vulcan’s C1 cost target for Project Ludwig is estimated at US$4,716 per tonne of LCE or €4,101 per tonne of LCE, placing it in the lowest cost quartile for highly competitive supply.
These forward-looking statements are based on assumptions and contingencies, all of which are subject to change without notice.
Attributed to: Vulcan’s announcement on 3 September 2026.