Vulcan Energy secures first equity drawdown for €2.2bn Lionheart lithium‑geothermal project

Vulcan Energy announced that the initial strategic equity drawdown of its €2.2 billion financing package for the Lionheart project has been completed, meeting the first set of conditions after the project's financial close in late May. The Lionheart project, located in the Upper Rhine Valley brine field between Germany and France, aims to produce 24,000 tonnes of lithium‑hydroxide monohydrate per year—enough for roughly 500,000 electric‑vehicle batteries—and to generate 275 GWh of renewable electricity and 560 GWh of heat annually over a planned 30‑year life.

CEO Cris Moreno said the funding milestone validates the project’s execution strategy and keeps construction on schedule. Despite the financing success, Vulcan’s shares fell to a new annual low, with analysts attributing the weak reaction to broader caution in the lithium sector. Technical indicators show the stock as oversold, and the next quarterly report is due on 30 July, which may clarify whether operational progress matches the favorable lithium price environment.

The financing strengthens Vulcan’s ability to advance domestic European lithium production and renewable energy generation, a key component of the region’s energy‑security and raw‑material resilience strategy.