VUL 1.49% $4.64 vulcan energy resources limited

Germany's Black Forest holds a secret to making EVs...

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    Germany's Black Forest holds a secret to making EVs greener
    https://europe.autonews.com/suppliers/germanys-black-forest-holds-secret-making-evs-greener

    Quotes: "In a valley alongside Germany's Black Forest lies a potential solution to one of the most vexing issues facing Europe's transition to sustainable transport."

    "But the key resource is lithium. It was rarely needed in the petroleum-based economy, but about 8 kilograms (18 pounds) are required for a modern electric car."

    "Right now, the silvery-white metal generally comes from open-pit mines in Australia or from South America, where there are concerns about water waste and toxic materials released from massive evaporation pools. The raw materials are then shipped to Asia for processing. By the time the lithium ends up in European or American electric cars, a lot of carbon dioxide has been emitted."

    "As the transition gathers pace, BloombergNEF expects demand for the minerals in lithium ion batteries to grow fivefold by 2030."

    "Automakers are under pressure to clean up their supply chains to meet sustainability targets, and Vulcan says Germany's lithium can play a role."

    "For decades, geothermal plants in the Upper Rhine Valley have been pumping up hot fluids from beneath the earth's surface to generate electricity -- a form of renewable power. The facilities never bothered about the lithium in the brine, but Vulcan plans to add an extraction step before the fluid is reinjected."

    "About half of the electricity created in the process would power the lithium production, while the other half could be sold. Vulcan has set up a small pilot plant and in late September produced its first batch of battery-grade lithium. It plans to start larger-scale production in 2024, Kreuter said."

    "There are challenges to Vulcan's method. The brine is a complicated slurry including potassium, iron, manganese and sodium -- impurities that need to be filtered out before the lithium can be put into batteries."

    "Kreuter said he is confident Vulcan can convince regulators and the public that its project will make lithium production more sustainable. For the company, the economics of the plan are just as attractive."

    "We can fund production of the brine via the sale of renewable energy," Kreuter said. On top of that, "we do not have the costs of developing and operating a mine.""
 
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