Vulcan Energy Resources has secured five new licences in the Upper Rhine Graben. In addition to an extraction licence for geothermal energy, Vulcan is expanding its previous exploration area for geothermal energy extraction and lithium by 325 square kilometres with four new exploration licences.
Thus, the license rights extend to more than 1,000 square kilometers in Baden-Württemberg, Rhineland-Palatinate and Hesse, according to the company. Specifically, the licenses are held by the German subsidiary Vulcan Energie GmbH, the parent company Vulcan Energy Resources is listed in Australia.
With the expansion, the company wants to be able to cover its offtake agreements concluded so far.