Vulcan Energy Raises €2.2bn to Fully Fund Phase One of Lionheart Lithium & Renewable Energy Project
Vulcan Energy Resources has secured a €2.2bn ($2.57bn) financing package, fully funding the construction and development of Phase One of its Lionheart lithium and renewable energy project in Germany’s Upper Rhine Valley.
With financing now in place, the company’s board has officially approved the Final Investment Decision (FID) for this initial phase. Project execution is scheduled to begin in the coming days.
According to Vulcan, Phase One of Lionheart is set to establish the company as a “key enabler” of Europe’s battery and electric vehicle (EV) supply chain while positioning it as a “climate champion” through the delivery of low-cost, low-carbon lithium and renewable energy.
The first phase includes the development of an integrated lithium production and renewable energy facility. Vulcan aims to produce 24,000 tonnes of lithium hydroxide monohydrate (LHM) annually—enough to supply roughly 500,000 EV batteries each year.
Beyond lithium, the project is designed to generate 275 gigawatt-hours (GWh) of renewable electricity and 560GWh of heat annually for regional consumers. The facility is expected to operate for approximately 30 years.
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