Vulcan Energy Resources (ASX:VUL) achieved financial close for the Lionheart project in Europe as part of the 2.2 billion euros equity and debt financing arrangements, according to a Thursday Australian bourse filing.

Lionheart involves the construction of an integrated lithium and renewable energy project in the Upper Rhine Valley brine field between Germany and France, targeting production capacity of 24,000 tonnes of lithium hydroxide monohydrate, with a co-product of 275 gigawatts-hour (GWh) of renewable power and 560 GWh of heat per annum for local consumers, over an estimated 30-year project life.