First major project contract for Phase One signed with NESI
| Stock | Vulcan Energy Resources Ltd (VUL.ASX) |
|---|---|
| Release Time | 5 Sep 2025, 8:32 a.m. |
| Price Sensitive | Yes |
Vulcan Energy signs first major project contract for Phase One
- Signed supply contract with NORAM Electrolysis Systems (NESI) as exclusive electrolysis technology supplier
- NESI's NORSCAND® Electrolysers to be used at Vulcan's Central Lithium Plant in Germany
- Contract signing follows successful energisation of Vulcan's Central Lithium Electrolysis Optimisation Plant in 2024
Vulcan Energy (ASX: VUL) has announced the signing of a supply contract with Canadian electrochemistry company, NORAM Electrolysis Systems (NESI), as the exclusive electrolysis technology supplier for the Phase One Lionheart Project. The contract agreement includes services at the technology, process engineering, procurement contracting, and commissioning support stages of development. Under the terms, NESI will be engaged at Vulcan's Central Lithium Plant (CLP) located in Industrial Park Höchst, Frankfurt. NESI's technology package includes NORSCAND® Electrolysers, with electrodes provided by Permascand AB in Sweden, which are intended to allow for green power to be used to produce high purity, low-cost lithium hydroxide for the European battery electric vehicle (EV) market. The signing of the contract follows the successful energisation by NESI of Vulcan's 100% owned Central Lithium Electrolysis Optimisation Plant (CLEOP) in November 2024, producing the first lithium hydroxide fully domestically produced in Europe. It also follows basic engineering completed with NESI and payments made on long lead items to further accelerate the schedule. The significance of the contract signing is reflected in the Joint Declaration of Intent signed between Germany and Canada last week, which is designed to deepen co-operation to secure critical mineral supply chains. Vulcan is aiming to finalise additional major project contracts in the coming weeks, final project financing agreements thereafter, and commence full Project construction in H2 2025.
Vulcan is aiming to finalise additional major project contracts in the coming weeks, final project financing agreements thereafter, and commence full Project construction in H2 2025.