Vulcan Energy Jumps 15% on $179 million Geothermal Plant Deal

Highlights:

• Vulcan Energy Resources (ASX: VUL) jumped 15% at the time of writing on news of a major contract.
• The company signed a $179 million deal with Turboden and ROM Technik for a geothermal plant near Landau, Germany.
• The project supports both Europe’s renewable-energy goals and Vulcan’s zero-carbon lithium strategy.

Shares soar on new clean-energy project

Renewable-energy producer Vulcan Energy Resources Limited (ASX: VUL) surged 15% at the time of writing after announcing it had signed a $179 million contract with a consortium of Turboden and ROM Technik to develop and construct a geothermal power plant near Landau, Germany.

At the time of writing, Vulcan Energy’s shares were trading significantly higher as investors welcomed the milestone, viewing it as a step forward in the company’s strategy to expand zero-carbon energy solutions across Europe.

Key step in geothermal ambitions

The new geothermal facility will form part of Vulcan’s broader plan to supply renewable power for its lithium extraction operations in the Upper Rhine Valley. Management described the agreement as a pivotal move toward both decarbonising the lithium supply chain and contributing clean baseload power to the German grid. Turboden, an Italian manufacturer specialising in Organic Rankine Cycle (ORC) turbines, and ROM Technik, a German engineering and construction partner, will jointly design and build the plant. Construction is anticipated to commence in the next few months, with the plant slated to begin commercial operations by late 2026.

Market outlook and industry impact

Analysts noted that Vulcan’s progress in commercialising geothermal energy could help ease Europe’s reliance on fossil fuels while bolstering the continent’s green-energy transition. The deal also reassures investors about Vulcan’s ability to execute its capital-intensive projects at a time when global funding for clean-tech ventures has become more selective. The company’s share price reaction underscores the market’s confidence in its long-term vision to integrate geothermal energy with lithium production for Europe’s electric-vehicle supply chain.

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