Vulcan Energy begins civil construction on Lionheart geothermal‑lithium project in Germany

Vulcan Energy AG announced that it has secured a €2.2 billion financing package for the Lionheart project, a combined geothermal power plant and lithium extraction facility in the Upper Rhine Valley. Despite the large funding, the company reported a net loss of €69.6 million for fiscal year 2025 and its shares fell to a new 52‑week low, reflecting market concern over execution risks.

The firm has now started civil construction at the 30 MW Lionheart geothermal plant in Landau, Germany. Work includes foundations, concrete structures, and road infrastructure across a 10‑hectare site. When fully operational, Lionheart is expected to generate up to 275 GWh of renewable power, 560 GWh of heat, and produce approximately 24,000 tonnes of lithium hydroxide annually – enough for about 500,000 electric‑vehicle batteries. Chief Executive Cris Moreno highlighted the milestone as a step toward low‑cost, baseload lithium production for Europe.