Vulcan Energy (ASX:VUL) Commences Seismic Surveys with BASF
Project Approval
Vulcan Energy has received approvals to commence seismic surveys for its geothermal heat development project in the Ludwigshafen region of Germany, undertaken in partnership with BASF SE.
Seismic Survey Details
The first stage involves two-dimensional seismic surveys conducted over approximately 75 kilometres of roadway in Vorderpfalz, within several towns including Ludwigshafen. The results will determine optimal locations for further development, followed by three-dimensional surveys.
Partnership with BASF
The collaboration with BASF, signed in November 2024, aims to supply BASF’s Verbund site Ludwigshafen with baseload heat and includes the potential construction of a commercial lithium extraction plant.
Future Developments
Vulcan plans to replicate the development model across the URVBF, providing renewable heating and producing sustainable lithium for battery production, contributing to Europe’s energy transition.
Executive Comments
Managing Director and CEO Cris Moreno stated, “Securing the necessary approvals for the first stage of development is an important step in further advancing our geothermal heat and lithium project in the Ludwigshafen area. Together with BASF, we will be utilising geothermal energy in such a way that ensures the area has access to a sustainable, climate-neutral energy source.”
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
This article was generated using GPT-4o mini, a Large Language Model (LLM), to generate summaries of investing news. While AI is generating the content, we know better than to blindly trust our future robot overlords, and every article is edited and fact-checked by an editor holding the appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content of everything published by The Capital Club.