- Vulcan Energy has entered into a strategic partnership with Renault Group for its Zero Carbon LithiumTM
- The Company confirmed the project has the lowest carbon footprint in the world based on Life Cycle Assessment of lithium hydroxide production.
- The Perth-based firm has applied for listing at the Prime Standard Market segment of the Frankfurt Stock Exchange (FSE).
- Vulcan Energy shares were trading at AU$15.21 at the closing bell, up 5%.
Vulcan Energy Resources (ASX:VUL) is aspiring to become the world’s first Zero Carbon LithiumTM business and contribute immensely to the transition of Europe into electric vehicles. The Company is aiming to decarbonise lithium-ion batteries production.
Vulcan is planning to achieve this feat by producing a world-first lithium hydroxide monohydrate chemical product. The lithium brine for the process will be sourced from its geothermal lithium brine project in the Upper Rhine Valley in Germany.
Vulcan Energy shares have soared ~57% this month only, i.e., in just eight trading sessions. VUL has provided an impressive return of ~128% to its shareholders in the last three months. At the closing bell, Vulcan Energy’s share price stood AU$15.21, up 5.041%.
The Company is making serious strides to reduce the import dependency of the European market for lithium chemicals.
Related Article: 5 Hot Lithium (Li) stocks on ASX
Partnership with Renault Group
Vulcan Energy entered into a five-year strategic partnership with the European top automotive player Renault Group for the lithium offtake. The partnership is for the supply of 6,000 to 17,000 metric tonnes of battery-grade lithium chemicals.
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Renault is planning to launch Renault Electricity in the market, which will come out from the production line with a tag- Made in Europe. For this purpose, the Company would be sourcing made-in-Germany lithium chemicals from Vulcan.
VUL has the lowest planned carbon footprint across the globe
Vulcan is the first player to commission the Life Cycle Assessment (LCA) and global study on the environmental footprint of lithium hydroxide (LHM) production. The latest result from the LCA has churned out a negative 2.9t of carbon dioxide emitted for each tonne of LHM produced.
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Related Article: What powered Vulcan Energy’s (ASX:VUL) 15% rally today?
The LCA result and the public data confirmed that the Zero Carbon LithiumTM project has the lowest planned carbon footprint compared to other lithium projects anywhere in the world.
How to buy VUL shares
Investors would be able to trade the VUL shares in two prominent stock exchanges of the financial world. Vulcan is already listed on the Australian Securities Exchange (ASX). Investors can buy shares directly through placing orders from their demat accounts or could ask their financial consultants to place an order on the ASX on their behalf.
Vulcan has also applied for listing the Frankfurt Stock Exchange (FSE). The Company plans to list in the Prime Standard Market segment of FSE, a segment with the highest transparency requirements.