Vulcan Energy Resources says its new geothermal heat plant, located in the Upper Rhine Valley, Germany (currently in its test phase!), plans to soon produce lithium for batteries used by auto manufacturers including Volkswagen, Renault and Stellantis.
Commercial production is scheduled to begin in 2027 - the process is being subsidised by the German government, who are showing their support in the form of 100 € million (£82,550,500)!
Additionally, according to Vulcan Energy, the excess heat from the geothermal water source will help heat homes in local communities - contributing to raw material independence for Europe!
Eventually, Vulcan Energy hopes to boost Europe’s developing lithium battery industry, as the initiative itself is designed to produce 24,000 metric tonnes of lithium hydroxide every year (!), a substance widely used in EV batteries.
If you’d like to learn more about Lithium-ion batteries and how they can be reused, head over to our blog: Can EV batteries be recycled?