Vulcan Energie, a German-Australian start-up for environmentally friendly energy generation, has secured four further exploration licenses for the production of lithium and geothermal energy in the Upper Rhine Rift. The licenses cover an area of 325 square kilometers, so the company has license rights to a total of 1000 square kilometers in the federal states of Baden-Württemberg, Hesse and Rhineland-Palatinate.
Vulcan wants to produce lithium in a CO2-neutral manner. The raw material is a decisive factor for the breakthrough in electromobility because it is needed for batteries. There are already purchase agreements with the car groups Volkswagen, Stellantis and Renault. According to the company, most of the production for the first five to six years of the planned operation has been sold. With the enlarged exploration area, Vulcan intends to meet the expected increasing demand. The start of production is planned for 2024.
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