Vulcan Energy has successfully completed the acquisition of Geox GmbH, securing 100% ownership of its geothermal wells, renewable energy generation assets, and a geothermal and lithium licence in the Landau region of Germany. This strategic move consolidates Vulcan’s upstream Phase One assets and replaces the former Joint Venture and brine offtake agreements with Geox.
The Landau site is also home to Vulcan’s Lithium Extraction Optimisation Plant (LEOP) and the future Geothermal and Lithium Extraction Plant (G-LEP), which are central to the company’s Phase One Lionheart Project. The project aims to produce battery-grade lithium for European offtake partners and deliver renewable energy and heating to local consumers.
As part of its development plans, Vulcan will dismantle the existing geothermal power plant at the Geox site, ramp up brine production, and begin supplying baseload renewable heating to the City of Landau. The renewable heating portion of the project has already secured a €100 million grant from the German Federal Government.
Vulcan estimates that 20% of its Phase One upstream brine production will come from the newly acquired licence area, reinforcing its mission to deliver zero-carbon lithium alongside sustainable energy.
Managing Director and CEO Cris Moreno stated:
“The completion of the acquisition of Geox is the final step in consolidating our upstream renewable energy assets for Phase One, streamlining operations, and an important pre-requisite to finalising our Phase One financing package. We are at an important juncture in the history of Vulcan and look forward to sharing more developments as we transition to the construction and production phase of the project.”
