Vulcan Energy (ASX:VUL) has been granted its first lithium production licence for the flagship Lionheart Project.
The permit marks a significant regulatory milestone as the first of its kind issued in Germany’s Upper Rhine Valley Brine Field and the state of Rhineland-Palatinate.
The specific licence, designated LiThermEx, covers the Insheim geothermal area and serves as a critical de-risking step for the project, which is already fully funded following a massive €2.2 billion financing package secured in late 2025.
The Lionheart Project is designed as a world-class integrated renewable energy and lithium hydroxide facility.
Once operational, it aims to produce 24,000 tonnes of lithium hydroxide monohydrate annually—a volume sufficient to power approximately 500,000 electric vehicle batteries.
Beyond mineral extraction, the project will double as a green utility, co-producing 275 GWh of renewable power and 560 GWh of renewable heat per year for local German consumers.
Managing Director and CEO Cris Moreno emphasised that this approval underpins the company's transition into construction, with commercial production targeted for 2028.
The initial six-year licence is expected to be extended to 30 years, aligning with the project's long-term development plan.
At the time of reporting, Vulcan Energy's share price was $3.07.