Vulcan Energy Resources (ASX:VUL) achieved financial close for its 2.2 billion euro phase one Project Lionheart in the Upper Rhine Valley Brine Field between Germany and France in the period ended June 30, according to a Wednesday filing with the Australian bourse.

The company also started civil construction activities at the Lionheart 30-megawatt geothermal power plant site in Germany, the filing said.

Bulk earthworks and the relocation of overhead high-voltage power lines are on track for completion by the third quarter, per the filing.

Shares rose 1% in morning trade Wednesday.