VUL: Heat offtake - Germany's largest municipal energy supplier

Our most successful investment to date, Vulcan Energy Resources (ASX:VUL) is now not only a Zero Carbon lithium company but also a renewable geothermal energy company.

Today’s deal with MVV, Germany’s largest municipal energy suppliers, is for between 240,000MWh - 350,000MWh per year to households in Mannheim near Frankfurt, Germany.

VUL says this will be the first of many heat offtake agreements, something we flagged in our VUL Investment Memo:

As long-term holders of VUL, we’re pleased that Monday’s AFR coverage was followed up by a binding purchase agreement.

We also note that MVV is 50.1% owned by the City of Mannheim, indicating to us that VUL’s stakeholder engagement efforts in the Upper Rhine Valley may bear further fruit.

Mannheim is home to ~300,000 residents and you can see how the city is close to VUL’s string of licences in the Upper Rhine Valley:

For a quick high-level summary of our VUL investment thesis, risks and key objectives - here’s our VUL Investment Memo.