Vulcan Energy secures €40m Siemens deal for Lionheart Project

Vulcan Energy (ASX:VUL) achieved a milestone in the development of its flagship Lionheart Project by entering into a major project framework agreement with Siemens AG.

Valued at approximately €40 million, the contract appoints Siemens as the main automation contractor for the integrated lithium and renewable energy initiative located in Germany’s Upper Rhine Valley.

The agreement represents the final major supply contract for the project, following a series of balance-of-works agreements finalised in late 2025.

Under the terms of the deal, Siemens will provide comprehensive engineering, automation, telecommunications, and building technology systems.

This includes the delivery of a distributed control system, industrial network and cybersecurity infrastructure, and safety systems for both the upstream lithium extraction plant in Landau and the downstream central lithium plant at Industrial Park Höchst.

The technologies are critical for the production of 24,000 tonnes of lithium hydroxide monohydrate per annum—a volume sufficient to power roughly 500,000 electric vehicles.

Beyond technical delivery, the partnership is underpinned by significant financial backing.

Siemens Financial Services previously committed to a €67 million investment as part of Vulcan’s broader €2.2 billion financing package.

Vulcan Energy CEO Cris Moreno noted that the agreement solidifies a long-term partnership with a local industrial giant, setting the stage for the delivery of Europe’s first fully domestic and sustainable lithium supply chain.

With construction currently underway, the project is slated to provide a stable 30-year supply of lithium and renewable heating for local consumers.