Core Insights - Vulcan Energy Resources has secured a financing package of €2.2 billion ($2.57 billion) to fully fund phase one of the Lionheart lithium and renewable energy project in Germany [1] - The project aims to establish Vulcan as a significant player in Europe's battery and electric vehicle supply chain while promoting low-cost lithium and renewable energy [2] Project Overview - Phase one of the Lionheart project will develop an integrated facility with an annual production capacity of 24,000 tonnes of lithium hydroxide monohydrate (LHM), sufficient for approximately 500,000 EV batteries each year [3] - The project is designed to generate 275 gigawatt-hours (GWh) of renewable power and 560 GWh of heat annually, with an operational lifespan of around 30 years [4] Development Details - Key facilities will include geothermal-lithium brine production wells, a renewable power and heat plant, and a lithium extraction plant utilizing Vulcan's proprietary VULSORB technology [5] - Most major contracts for phase one have been signed, with full offtake agreements secured for the first ten years, targeting Europe-focused buyers [6] Financial Aspects - The total financing package of approximately €2.2 billion (A$3.9 billion) will cover development costs through construction, commissioning, and start-up phases [7] - HOCHTIEF has provided substantial financial backing, investing a total of €169 million [7]