Vulcan Energy has completed its acquisition of German company Geox, including its geothermal wells, renewable energy infrastructure, and a geothermal and lithium license area near the city of Landau. The move consolidates Vulcan’s control over key upstream assets for its Phase One Lionheart Project.
This acquisition replaces a previous joint venture and brine offtake agreement with Geox, giving Vulcan full ownership of the assets, which are located in the same region as the company’s Lithium Extraction Optimisation Plant (LEOP) and the planned Geothermal and Lithium Extraction Plant (G-LEP). These facilities are central to Vulcan’s strategy of producing battery-grade lithium and supplying renewable energy to local markets.
As part of the project development, Vulcan plans to dismantle the existing Geox geothermal power station, increase brine extraction, and commence direct renewable energy supply to local consumers via the new G-LEP. Approximately 20% of the project’s Phase One brine production is expected to come from this license area.
The renewable heating component of the project has been awarded a €100 million grant from the German federal government, bolstering the company’s efforts to align lithium production with carbon-neutral energy sources.
