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Vulcan Energy Resources Ltd. ( (AU:VUL) ) has provided an update.
Vulcan Energy Resources Ltd. has received approval to build and operate its Central Lithium Plant (CLP) in Frankfurt, Germany, a significant step in its Lionheart Project. This plant will produce battery-quality lithium hydroxide monohydrate, supporting Europe’s battery and automotive industries with a capacity to produce up to 24,000 tonnes annually. The approval marks a crucial development in establishing a sustainable lithium supply chain in Europe, aligning with the EU’s goals of reducing raw material dependencies. Additionally, Vulcan has secured approximately €104 million in grants from German state and federal governments, extending the deadline for finalizing project financing to December 2025. The company is also amending offtake agreements with partners to align with its project timeline, aiming to finalize these agreements before debt signing.
The most recent analyst rating on (AU:VUL) stock is a Buy with a A$4.20 price target. To see the full list of analyst forecasts on Vulcan Energy Resources Ltd. stock, see the AU:VUL Stock Forecast page.
More about Vulcan Energy Resources Ltd.
Vulcan Energy Resources Ltd. operates in the renewable energy and critical raw materials industry, focusing on the production of carbon-neutral lithium and renewable energy from deep geothermal brine. The company aims to decarbonize lithium production and contribute to Europe’s critical raw materials independence, primarily serving the European battery and automotive industries.
Average Trading Volume: 1,176,434
Technical Sentiment Signal: Sell
Current Market Cap: A$937.7M
Find detailed analytics on VUL stock on TipRanks’ Stock Analysis page.