Eavor Technologies Inc. has signed a Memorandum of Understanding (MoU) with Vulcan Energy Resources from Germany.

Feb 11, 2021

Eavor Technologies Inc. has signed a Memorandum of Understanding (MoU) with Vulcan Energy Resources from Germany.


Feb 11th, 2021 - Eavor Technologies Inc. has signed a Memorandum of Understanding (MoU) with Vulcan Energy Resources from Germany. 

Using their combined deep geothermal and lithium brine resource located in the Upper Rhine Valley of Germany, Europe’s largest lithium resource, Vulcan Energy Resources is aiming to become the world’s first Zero Carbon Lithium producer. Vulcan intends to use its unique Zero Carbon Lithium process to produce both renewable geothermal energy and lithium hydroxide from the same deep brine source. 

The MoU contemplates collaboration whereby the Parties share data so Vulcan may search for high-flow geothermal-lithium brine targets on Eavor’s license areas, and Eavor may search for undisturbed Eavor-Loop targets within Vulcan’s license areas. 

Vulcan Managing Director, Dr. Franic Wedin, comments, “We welcome this agreement with Eavor. Both companies share a goal of producing renewable, geothermal power, but because our production methods require very different geological conditions, there is an opportunity for the Parties to work together by sharing data and exploring on each other’s licenses.” 

The Eavor Loop does not require geological systems with high permeability, meaning that the system is complementary to Vulcan’s geothermal Zero Carbon Lithium developments, which require high permeability, open fault systems with high brine flow.  We see this as complementary to our strategy to become a major supplier of zero-carbon lithium hydroxide to the European battery EV market,” continues Dr. Wedin, “We look forward to a fruitful relationship with Eavor.”

“Eavor continues to push boundaries for what is possible not only through technology, but also through innovative partnerships like this announcement with Vulcan Energy Resources,” states John Redfern, Eavor CEO, “2021 is already off to an incredible start for Eavor.”

About Vulcan
 
Vulcan Energy Resources is aiming to become the world’s first Zero Carbon Lithium®producer, by producing a battery-quality lithium hydroxide chemical product with a net-zero carbon footprint from its combined geothermal and lithium resource, which is Europe’s largest lithium resource, in the Upper Rhine Valley of Germany. Vulcan will use its unique Zero Carbon Lithium®process to produce both renewable geothermal energy, and lithium hydroxide, from the same deep brine source. In doing so, Vulcan will address lithium’s EU market requirements by reducing the high carbon and water footprint of production, and total reliance on imports, mostly from China. Vulcan aims to supply the lithium-ion battery and electric vehicle market in Europe, which is the fastest-growing in the world. Vulcan has a resource that can satisfy Europe’s needs for the electric vehicle transition, from a zero-carbon source, for many years to come.

Vulcan