Vulcan Energy Resources obtains 5 additional geothermal licenses in Germany

Insheim geothermal power plant, Germany (source: Vulcan Energy Resources)

Australian Vulcan Energy Resources has secured five additional geothermal exploration licenses on the German side of the Upper Rhine Valley.

In a press release published this week, the Australian-German Vulcan Energy Resources announces that it has obtained additional geothermal exploration licenses in the Upper Rhine Valley in Germany.

The licenses cover an area of ​​325 km2, which the company considers promising for deep geothermal energy and lithium brine. With these new licenses, the company brings the total of its licenses granted to more than 1,000 km2.

Vulcan’s licenses span three German states in the Upper Rhine Valley, with the latest licenses in the states of Rhineland-Pfalz complementing existing licenses in that state, as well as in Hesse and Baden-Württemberg.

The Company is targeting completion of its Phase 1 Definitive Feasibility Study (DFS) in the second half of 2022 and first commercial production of lithium by 2024. With its recent announcement on the acquisition of the Insheim Geothermal Power Plant and multiple lithium offtake agreements, the new licenses will potentially provide a larger pipeline of projects for Vulcan to incorporate additional production capacity and additional project areas into its lithium mining plans.

Vulcan’s Managing Director, Dr. Francis Wedin, said: “These new exploration licenses provide us with significant potential to further develop our project as the market continues to grow, while meeting the growing demand for heat and energy. renewable electricity. The new exploration licenses are in line with our strategy to leverage the unique experience of our in-house team, including the geological expertise of our in-house geothermal engineering and geology firm GeoT, to identify areas that have a potential for the combined development of renewable geothermal energy and lithium in the Haut-Rhin valley.

“It is encouraging to see licensing approvals progressing efficiently, in line with German state governments’ commitment to speeding up planning and approval times for new renewable energy projects and their general support for sustainable approaches to lithium production and deep geothermal energy technologies.”

Geothermal permits from Vulcan Energy Resources, Germany (source: Vulcan)

Source: Company press release