The last major piece of Vulcan Energy Resources’ Lionheart puzzle has fallen into place. On April 24, 2026, the company marked the official start of construction at the Höchst Industrial Park in Frankfurt, bringing all Phase 1 sites into simultaneous development for what stands as Europe’s most ambitious lithium venture.
The Central Lithium Plant (CLP) in Frankfurt will transform lithium chloride into lithium hydroxide — the critical ingredient for electric vehicle batteries. Vulcan secured the building permit back in September 2025, and work on the lithium extraction facility in Landau, Rhineland-Palatinate, is already underway. The dual-front construction strategy puts the company on track for a 2028 production start.
Once operational, the project targets an annual capacity of 24,000 tonnes of lithium hydroxide monohydrate — sufficient to power roughly 500,000 EV batteries. As a byproduct, the operation will generate 275 GWh of renewable electricity and 560 GWh of heat for local customers. The entire project carries a 30-year lifespan.
Just days before the groundbreaking, Vulcan closed the final gaps in its contractor lineup. Siemens has been appointed Main Automation Contractor, handling automation, telecommunications, and building technology across all three core sites in a deal worth approximately €40 million. The day before the ceremony, specialty firm Mersen announced a multi-million-euro supply contract for an Eco&FLEX® unit that recovers chlorine and process energy, improving the plant’s environmental footprint.
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On the offtake side, the contracts are already locked in. Umicore, LG Energy Solution, Stellantis, and Glencore have all committed to purchasing lithium from the first phase of production.
The financing foundation is equally solid. A €2.2 billion package secured in December 2025 covers the entire construction phase. The European Investment Bank is contributing €250 million, with twelve additional financial institutions participating. Rhineland-Palatinate has also granted Vulcan an exemption from lithium extraction levies through the end of 2030, providing meaningful relief during the capital-intensive build period.
Vulcan aims to satisfy roughly 12% of Europe’s lithium hydroxide demand by 2030, reducing the continent’s reliance on imports for its industrial supply chain.
All eyes now turn to the company’s quarterly report due April 29, covering the period through March 2026. Investors will be watching the operational cash burn closely — the previous quarter consumed €7.2 million, primarily on personnel and development costs. Drilling operations are scheduled to begin in the second half of 2026, offering the next concrete test of whether the timeline holds.
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