Stock Track | Vulcan Energy Soars 5.06% Intraday on Financial Close for Major European Project

Stock Track

05/28

Vulcan Energy Resources Ltd (VUL.AU) saw its stock price soar 5.06% during intraday trading on Thursday, marking a significant upward movement for the lithium and renewable energy company.

The surge follows the company's announcement that it has achieved financial close for its Lionheart project in Europe, securing 2.2 billion euros in equity and debt financing arrangements. This milestone enables the construction of an integrated lithium and renewable energy project in the Upper Rhine Valley brine field between Germany and France.

The Lionheart project targets production capacity of 24,000 tonnes of lithium hydroxide monohydrate annually, along with co-production of 275 gigawatts-hour of renewable power and 560 GWh of heat per year for local consumers over an estimated 30-year project life.

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