Australian-German Lithium Company Raises Half Billion

The funds will go to support the companies more than EUR 2 billion project “Zero Carbon Lithium” in the southwestern German town of Landau.

It aims to produce 24,000 tons of lithium hydroxide monohydrate (LHM) per year, enough to cover the demands of 500,000 electric vehicles. Since April 2024, the company has been producing carbon-neutral lithium chloride, which is then processed into battery-quality LHM.

Vulcan’s process involves extracting lithium from naturally heated subterranean brine. In doing so, it also produces renewable geothermal energy for local communities and industry.

Shortly after the massive line of credit was announced, German Chancellor Olaf Scholz visited the Landau facilities.

“What we see here sends a positive message about Germany and Europe’s future,” Scholz said in a statement. “Deep geothermal energy represents a thus-far mostly unexploited possibility for delivering the heat we need. In addition, this project shows we’re capable of producing lithium ourselves and thus becoming more independent.”