Vulcan Energy Resources Ltd (VULNF)

[TradingCharts]

March 18, 2022

Zero Carbon Lithium? Project update
Vulcan Energy Resources Limited (Vulcan; ASX: VUL, FSE: VUL, the Company) is aiming to become the
world’s first integrated lithium chemicals and renewable energy producer with net zero greenhouse gas
emissions. Vulcan’s unique Zero Carbon Lithium™ Project aims to produce both renewable geothermal
energy and lithium hydroxide for electric vehicle batteries from the same deep brine source in the Upper
Rhine Valley, Germany.
Highlights
• Lithium division: pre-fabrication of Vulcan’s Direct Lithium Extraction (DLE) - Demonstration
Plant (Demo Plant) has commenced offsite in Germany, while 80% of the equipment has been
ordered and design-work has been finalised. Start of commissioning of the Demo Plant is on
track for mid-year.
• A team of experts from Nobian, Vulcan and external engineering teams are adapting Vulcan’s
lithium hydroxide production Demo Plant design to Nobian’s existing site at the Höchst Chemical
Park ahead of construction and operation.
• Vulcan’s operational DLE Pilot Plant is reporting consistent lithium concentration and low level
of impurities. Lithium recovery rates are averaging 94-95%, above the levels noted in the 2021
Pre-Feasibility Study. The Pilot Plant has been operating since April 2021.
• New laboratory in Karlsruhe-Durlach, Germany, extending the analytical capability and expertise
of the Company’s lithium division, is now fully operational, with further expansions planned.
• Renewable energy division: the Company has commenced discussions with local stakeholders
to expand operations at its 100% owned geothermal renewable energy plant, which is currently
operating in Insheim, to provide heating and energy security to local communities.
• Refurbishment of the electric drill rigs purchased in 2021 is underway, with the rigs due to be
operation-ready by the end of the year, before being deployed for mass-scale geothermal
renewable energy development in Germany, reducing reliance on Russian gas.
• Feasibility & financing: kick-off of Bankability Study with BNP Paribas completed, in advance of
planned financing process which will follow the DFS completion.
• Led by Vulcan’s in-house team and supported by Hatch Ltd, the Definitive Feasibility Study (DFS)
is progressing on track to be finalised in the second half of 2022.

https://www.investi.com.au/api/announcements/vul/5fbb2778-f6d.pdf