As stated by the EIB, the project intends to produce 24 kt/yr of battery-quality lithium hydroxide, by combining extraction from the underground brine with associated geothermal plants under a closed fluid cycle, a lithium extraction plant and a refining plant. It will also produce electricity to cover most of its own consumption and heat for district heating in nearby towns, thereby targeting net-zero emissions.

The project will be mostly located in the Upper Rhine Valley of Germany, which is Europe's largest lithium resource. Its scope corresponds to the first phase of a larger development scheme and it will benefit from the experience of an existing demo-plant.

The production of battery grade lithium LHM - a critical raw material to be used in particular to for EV batteries - will contribute to the EU's green transition and to the achievement of the European Green Deal ambition to become climate neutral by 2050. As such, the project is in line with the EU Key Enabling Technologies and Strategic Energy Technology Plan objectives, contributing to increased EU autonomy and resilience in industrial ecosystems for e-mobility and batteries.
The project falls under Main Policy Priority area (Environment and resources / Sustainable critical raw materials value chain) for projects supporting the sustainable supply and processing of critical primary raw materials with the main objective of building production capacity for the purpose of large-scale competitive commercialisation.

As stated by Bloomberg, Vulcan Energy Resources Limited is aiming to produce a battery-quality lithium hydroxide chemical product with a net zero carbon footprint from its combined geothermal and lithium resource in the Upper Rhine Valley of Germany.

No project contacts provided at the time of disclosure.

Borrower - Vulcan Energy Resources Ltd.:

Address: Amalienbadstraße 41, Bau 52, 76227 Karlsruhe, Germany
Email: info@v-er.eu
Phone: +49 (0) 721 480 70200
Website: https://v-er.eu/

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces