The Vulcan Energy Resources Ltd (ASX: VUL) share price is in the spotlight after it announced progress on a lithium plant.
Vulcan is working towards the goal of being the world’s first lithium producer with net zero greenhouse gas emissions.
Lithium hydroxide plant site secured
Today Vulcan announced that it has signed an agreement with chemical park management company Infraserv, to secure a site at the Höchst Chemical Park just outside of Frankfurt, Germany.
The site is for Vulcan’s planned Central Lithium Plant (CLP) and is a part of its zero carbon lithium product.
The company outlined multiple advantages with the Höchst site location:
- Close to Vulcan’s project areas where integrated proposed geothermal and sorption operations are proposed to be built.
- Multiple low carbon transport options available (barges and train).
- Renewable power available onsite.
- The site has the required space and utilities for future expansion of the CLP.
Vulcan said that the central lithium plant is intended as a processing hub, processing lithium chloride from multiple combined geothermal and lithium sorption plants into lithium hydroxide monohydrate.
The company said that the intention is to transport lithium hydroxide monohydrate to Vulcan’s European customers in the battery and electric vehicle industry. Vulcan believes that this will “dramatically” lower the transport footprint of current lithium supply chains.
Vulcan said it will be working with a dedicated team to obtain the necessary permits in the chemical park for the construction and operation of its CLP.
The Vulcan share price is sitting virtually flat at the time of writing. However the ASX 200 overall is currently down over 1%.
Over the last year the Vulcan share price has grown a whooping 912%.
