Vulcan Energy (ASX: VUL, FSE: VUL) has taken a significant step forward in securing funding for its Phase One Lionheart Project, with Germany’s Interministerial Committee (IMC) advancing the project to detailed due diligence for potential participation in the €1 billion German Raw Materials Fund (RMF).
What’s the Latest?
- Government-backed funding opportunity: The RMF was launched in 2024 to strengthen Germany’s raw materials security by investing in projects that reduce reliance on imports.
- Vulcan’s project meets key criteria: The IMC sees the Lionheart Project as strategically aligned with Germany’s raw materials strategy.
- Extended financing timeline: To accommodate RMF participation, Vulcan has adjusted its financing target to H2 2025, with full construction expected to follow.
Why This Matters
Vulcan is developing the world’s first carbon-neutral lithium and renewable energy business, providing a sustainable, European-based lithium source for EV batteries. Securing RMF participation could significantly de-risk the project’s funding while reinforcing its strategic importance to Germany’s clean energy transition.
With due diligence now underway, all eyes are on the next steps in Vulcan’s financing journey.
