Enel Green Power, part of Italian utility Enel SpA (BIT:ENEL), and German-Australian company Vulcan Energy Resources Ltd (ASX:VUL) have teamed up to explore geothermal lithium projects focusing initially on the opportunities provided by a licence near Rome.
The companies are combining their respective expertise in geothermal energy and lithium extraction. Enel Green Power has geothermal energy plants in Italy, Chile and the US.
The partners will use a phased approach. They will start with a scoping study to assess the potential of Vulcan's "Cesano" licence, which covers 11.5 sq km (4.4 sq miles) and is located very close to Rome, and may look at other geothermal lithium collaborations in Italy and abroad.
“Vulcan is aiming to increase the future supply of our sustainable lithium product in response to significant customer demand, as we leverage our extensive experience in lithium extraction from heated brines to have a materially decarbonising effect on global electric vehicle supply chains,” said Vulcan’s managing director Francis Wedin.
“By growing and diversifying our project development portfolio, we ultimately aim to develop a globally significant Zero Carbon Lithium business focused on Europe, for Europe,” Wedin added.
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