If you’re not across Vulcan’s modus operandi, here’s the scoop: the company is aiming to be a lithium producer with a green twist. Using naturally heated brines from the Upper Rhine Valley, Vulcan extracts lithium chloride via its proprietary Adsorption-type Direct Lithium Extraction (A-DLE) process, then converts it into battery-grade lithium hydroxide using only renewable energy. That’s right—zero fossil fuels involved.
Geothermal Power Plant (Credit: supplied)
This process isn’t just eco-friendly; it’s cost-competitive. And with S&P Global recently handing Vulcan a “Dark Green” rating—the highest possible for environmental, social, and governance (ESG) performance in mining—the company now has industry bragging rights as the greenest lithium producer on the block.
Managing Director and CEO Cris Moreno couldn’t be prouder of the achievement:
“First lithium hydroxide production is an important milestone for Vulcan as we demonstrate Europe’s first fully domestically produced lithium from the integration of Vulcan’s upstream production and downstream conversion optimisation plants, and is pivotal for the battery supply chain resilience of both Germany and Europe,” he said.
Local Production for a Local Market
This milestone isn’t just a technical triumph—it’s strategic. Europe’s electric vehicle (EV) and battery manufacturing industries are ballooning, and with major automakers under pressure to cut emissions, sourcing local and sustainable lithium has become essential. Vulcan already has long-term agreements with heavyweights like Stellantis, Renault, LG, and Umicore, so this production milestone is key in ramping up to full-scale operations.
Vulcan’s Phase One project, known as “Lionheart,” aims to supply 24,000 tonnes of lithium hydroxide per year, enough to power half a million EVs annually. That’s a serious chunk of the market, especially when you consider the proximity advantage Vulcan enjoys. Based in Central Europe, they’re just a stone’s throw from the continent’s automotive hubs, meaning they’ll cut costs and emissions on transport while bringing some welcome price stability to the market.
A Finance Arsenal with Big-Name Backers
Bankrolling such an ambitious venture isn’t child’s play. Fortunately, Vulcan’s got a heavy-hitting financing team led by BNP Paribas, with debt structuring support from the European Investment Bank and export credit agencies from Australia, France, Italy, and Canada. They’re joined by European banking stalwarts ING, Unicredit, ABN-AMRO, and Natixis—support that signals strong faith in Vulcan’s future.
As the company finalises its financing and moves towards commercial construction, Moreno keeps the message clear:
“We look forward to keeping our shareholders updated as we move towards completion of financing and start of commercial construction.”
Beyond Lithium: Vulcan’s Social Boost
Vulcan’s project isn’t only about electrifying cars. Their setup also produces surplus renewable heat and power, which will be shared with local communities to help decarbonise surrounding industries. While most miners talk up “community benefits,” Vulcan’s commitment to giving back takes on a new depth, offering real, ongoing value beyond its own operations.
What’s Next?
For Vulcan, the road ahead is all about delivering on the promise of “Lionheart” and helping Europe build a sustainable, localised lithium supply chain from the ground up. If they can pull it off, Vulcan could find itself at the forefront of Europe’s green energy transition, setting a new benchmark for both cost efficiency and ESG standards in mining.
It’s an audacious goal, but as Europe’s lithium demand skyrockets, Vulcan’s sustainable play might just be what the doctor ordered.
