Vulcan Energy Resources Ltd [ASX:VUL] announced today they’ll be working together with DuPont Water Solutions on their Zero Carbon Lithium project.
Vulcan is working to become the first zero-carbon lithium producer in the world. They have their eyes set on supplying zero-carbon lithium hydroxide to the European electric vehicle market. Vulcan has a deep geothermal and lithium brine resource in the Upper Rhine Valley of Germany.
DuPont to help Vulcan progress their lithium extraction process
DuPont provides solutions in water purification and separation technologies.
DuPont has a range of proprietary Direct Lithium Extraction (DLE) solutions and DuPont will be using these to help with Vulcan’s zero-carbon lithium project Definitive Feasibility Study.
DuPont’s multi-technology portfolio includes things like lithium selective sorbent, nanofiltration, reverse osmosis, ultrafiltration, ion exchange resins, and closed-circuit reverse osmosis.
Vulcan’s Managing Director, Dr Francis Wedin, had this to say:
‘Collaborating with a company like DuPont is an important de-risking strategy for the DLE component of our Zero Carbon Lithium® project. DuPont’s diverse set of products which can be manufactured at scale are likely to be well-suited to sustainably extract the lithium from the brine.’
Vulcan accelerates the pace
Lithium is a key ingredient of batteries. Developing battery and energy storage is quickly becoming one of the main issues for the green energy transition to steam ahead.
Vulcan recently raised $120 million (before costs) earlier this month to quicken the pace to develop their Zero Carbon Lithium project.
Since then, they’ve been moving fast.
Last week they said they are buying GeoThermal Engineering GmbH (GeoT), a geothermal sub-surface consultancy they’ve been working with. And on Monday Vulcan said they have gone into a binding agreement to get a 100% stake in Global Geothermal Holding UG (GGH) who hold 49% of the Taro Licence in the Upper Rhine Valley.
Markets haven’t taken today’s news well though. At time of writing Vulcan Energy shares are down 4%, trading at $7.14.
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Selva Freigedo,
For Money Morning
