Local support for Zero Carbon Lithium Project; project expansion

Investment Memo: VUL 2022

Objective #3: Expansion of Scope

Vulcan Energy Resources Ltd (ASX:VUL | FSE: VUL) announced today that the City Council of Landau has voted to support geothermal energy production at VUL’s dual geothermal energy and Zero Carbon Lithium project in Germany’s Upper Rhine Valley.

The Council voted to support geothermal energy production in the area and has taken a positive stance towards the extraction of lithium from geothermal brine in consideration of climate protection goals and the interests of regional urban development.

The announcement follows news this week, as reported in the AFR, that the European Chemicals Agency (ECHA) to the European Commission has proposed to increase regulatory requirements around the control, processing, packaging, and storage of lithium. However, VUL CEO Francis Wedin said that the ECHA’s proposal is based on incorrectly interpreted applications of the classification criteria and did not take into full consideration more recent studies on the subject.

Adding to its growing pipeline of projects, VUL also announced today that it has increased its Exploration Licence Area by 141km2 to a total of 1,163km2.

This is inline with Objective #3 for VUL in 2022, Expansion of Scope, as outlined in our Investment Memo: “We want to see the company expand its scope for future lithium production by acquiring more land holdings and more projects to help meet anticipated rising demand”.