- Vulcan Energy Resources (ASX: VUL) secures conditional funding from Export Finance Australia (EFA) of up to $200 million
- The funding is for the first stage of Vulcan’s Zero Carbon Lithium project in Germany
- EFA specialises in offering financial support for export-oriented trade and international infrastructure development
- The initiation of phase one project-level debt and strategic equity financing will begin in mid-November, once the Bridging Study is concluded
- VUL shares are trading down 1.78 per cent, trading at $2.21 at 11:51 am AEDT
Vulcan Energy Resources (ASX: VUL) has secured conditional support from Export Finance Australia (EFA) for potential funding of up to $200 million.
This funding is intended for the first stage of Vulcan’s Zero Carbon Lithium project in the upper Rhine Valley Brine Field in Germany.
EFA specialises in offering financial support for export-oriented trade and international infrastructure development and plays a crucial role in helping Australian enterprises compete globally.
“Noting the deepening relationship between Australia and the EU as part of the international push to develop and secure global supply chains for clean energy critical minerals, it is encouraging that we have secured substantial in principle financing support from government-backed export credit agencies (ECAs) both in Europe and in Australia.” Managing Director and CEO Cris Moreno said.
The initiation of Phase One project-level debt and strategic equity financing is expected to begin in mid-November, once the Bridging Study is concluded.
VUL shares were down 1.78 per cent, trading at $2.25 at 11:51 am AEDT.