Automotive group Stellantis and lithium producer Vulcan Energy are exploring the use of geothermal energy to decarbonise the Stellantis car plant in Rüsselsheim, Germany, where the DS 4 and Opel Astra are built.
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Stellantis has invested €50 million in Vulcan Energy Resources and becomes the second-largest shareholder of the German-Australian lithium producer with an eight per cent stake. Vulcan and Stellantis have also extended their binding off-take agreement for lithium hydroxide by five to ten years.
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The Australian-German lithium startup Vulcan Energy Resources has acquired a geothermal power plant in Germany for €31.5Mn ($35.7Mn). Vulcan wants to upgrade the 4.8 MW Insheim plant previously owned by local utility Pfalzwerke to set up a new test facility for low-carbon lithium production.
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Vulcan Energy Resources has entered into a binding lithium offtake agreement with Stellantis. Vulcan will supply Stellantis with a minimum of 81,000 tonnes and a maximum of 99,000 tonnes of lithium hydroxide during the five-year contract period.
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Lithium supplier Vulcan Energy has signed a long-term supply contract with Korean battery manufacturer LG Energy Solution (LGES). What’s special: Vulcan Energy wants to extract its lithium from thermal water in the Upper Rhine Graben.
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