Vulcan Energy gets EUR 100m for German renewable heat project

Australia-based geothermal energy and lithium production company Vulcan Energy Resources Ltd (ASX:VUL) said on Tuesday that it has received a EUR-100-million (USD 106.5m) government funding commitment for a renewable heat supply project in Landau, Germany.

The HEAT4LANDAU project includes the development of the infrastructure needed for the generation, transport and supply of up to 255 MW of geothermal energy. The initiative will support Landau’s transition to sustainable and renewable district heating starting in 2026, the company said.

The financing will be provided by Germany’s ministry for economic affairs and the European Recovery and Resilience Facility (ARF), a major EU initiative to support the economic recovery of its member states.

Of the total financing, EUR 22 million will be paid in 2026 and a further EUR 78 million in 2027.

HEAT4LANDAU is part of part of Vulcan's Phase One Lionheart Project, which targets 24,000 metric tonnes of lithium hydroxide production capacity per year, supporting Europe's green lithium supply chain.

(EUR 1 = USD 1.065)

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