Major supply contract signed with Turboden and ROM Technik

EQS-News: Vulcan Energy Resources Limited / Key word(s): Contract Major supply contract signed with Turboden and ROM Technik 26.09.2025 / 15:40 CET/CEST The issuer is solely responsible for the content of this announcement. Major supply contract signed with Turboden and ROM Technik

Key contract for Phase One renewable energy and lithium project includes construction of geothermal power plant

 

Vulcan Energy (Vulcan, ASX: VUL, FSE: VUL, the Company) is pleased to announce it has signed a major contract with a consortium between Turboden and ROM Technik, to design, develop, procure and construct the commercial geothermal power plant near Landau Germany, as part of the Phase One Lionheart Project (the Project).

Lionheart will have the capacity to produce 275 GWh of power, and 24,000 tonnes of lithium hydroxide, enough for ca. 500,000 electric vehicles, per annum.[1]

 

Key points 

• The contract includes the full scope of services required for the Engineering, Procurement and Construction (EPC) of Vulcan’s new Phase One geothermal power plant and is on a fixed lump-sum turnkey basis with a value of ~€110 million[2]
• The geothermal power plant will utilise Organic Rankine Cycle (ORC) technology in generating renewable power from Vulcan’s geothermal brine. The renewable power is produced as a co-product, alongside lithium, which is also produced from the same brine source, at Vulcan’s upstream Geothermal and Lithium Extraction Plant (G-LEP) 
• Turboden is an Italian firm and part of the Mitsubishi Heavy Industry. Turboden specialises in the design, manufacture and maintenance of ORC systems both in Germany and globally. ORC systems produce baseload renewable energy ensuring stability to the grid.
• ROM Technik specialises in technical building equipment and installation services and will be responsible for co-ordinating the respective contractors on the construction of the geothermal power plant
• The signing of the contract is a condition precedent to financing, which the Company is targeting to finalise, together with additional project and financing agreements, in H2 2025
• The execution of this contract follows the signing of a supply contract with NORAM Electrolysis Systems, in early September 2025, to be the exclusive lithium electrolysis technology supplier for the downstream part of Project
• It also follows recent approval by the City of Landau Council for the Company to purchase the land for its G-LEP. The approval is a key requirement in the construction of the plant, with the Company having already received building permits for the 30MW geothermal renewable energy plant and electrical substation that form the G-LEP.