Vulcan Energy Secures €30 Million Strategic Placement to Advance Lionheart Project

Highlights:

• Vulcan Energy (ASX: VUL) raised €30 million (AU$53.6 million) to support its Lionheart Project development.
• BNP Paribas’ Clean Energy Solutions Fund led the strategic placement with a €15 million investment.
• Funds will advance drilling, engineering, and construction work in preparation for project execution in 2025.

Capital Raise Supports Critical Phase One Development

Vulcan Energy Resources Limited (ASX: VUL) has successfully raised €30 million (AU$53.6 million) through a strategic placement to support ongoing development of its flagship Lionheart Project. At the time of writing, the placement was priced at AU$3.40 per share—representing a 15% discount to Vulcan’s last traded price of AU$4.00 and a 7.3% discount to its 15-day volume weighted average.

The placement was led by BNP Paribas’ Clean Energy Solutions Fund, which contributed €15 million (AU$26.8 million), underlining investor confidence in Vulcan’s clean energy ambitions. The remainder was raised from a select group of strategic institutional and corporate investors, including current shareholders.

Proceeds to Fund Project Acceleration

The funds will be used to maintain and de-risk critical development activities for Phase One of the Lionheart Project, which is located in the Upper Rhine Valley Brine Field—Europe’s largest lithium resource. This includes continuing the drilling of new production wells, commencing EPCm contracts for the Lithium Extraction and Central Lithium Plants, and advancing engineering and shovel-ready site preparation work. Additionally, a portion of the capital will go toward general working capital needs and placement-related costs.

Positioned for Growth in a Low-Carbon Future

Vulcan Energy’s CEO, Cris Moreno, said the capital injection supports the company’s goal of delivering key project milestones in 2025, including starting construction of lithium plants and qualifying its proprietary V-LiONTM lithium product with offtake partners. Settlement of the placement is scheduled for July 17, 2025, with share allotment expected on July 18, 2025. Canaccord Genuity (Australia) Limited acted as the sole lead manager for the transaction.

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