Vulcan Energy

Canaccord Genuity acted as Joint Lead Manager, Joint Underwriter and Joint Bookrunner to a A$164 million equity raising for Vulcan Energy (VUL.ASX)

Canaccord Canaccord Genuity has helped raise A$164 million for Vulcan Energy (ASX:VUL) to commence execution of critical path scope for Phase One of the Lionheart Project.

Vulcan is building Europe’s first carbon neutral, fully integrated lithium and renewable energy business to supply lithium chemicals and renewable energy to Europe. The Lionheart project, located in the Upper Rhine Valley, is the largest lithium and geothermal resource in Europe which is targeting production at lowest quartile OPEX.

Vulcan is targeting 24,000 tonnes per annum of lithium hydroxide production, enough to support the creation of 500,000 electric vehicles every year. The company already has offtake agreements with major European companies, including Renault, LG and Volkswagen covering the majority of the first 10 years of production