Vulcan Energy aims to go public

The lithium start-up is already listed in Australia. Now the company also wants to be listed on the Frankfurt Stock Exchange.

The Karlsruhe-based start-up Vulcan Energy wants to be listed on the Frankfurt Stock Exchange, reports the Handelsblatt. So far, only the parent company is listed on the stock exchange in Australia. With the planned dual listing, the start-up wants to expand its international commitment, said CEO Francis Wedin to Handelsblatt.

Vulcan Energy wants to extract lithium from thermal water in the depths of the Upper Rhine Graben. By 2024, Vulcan Energy wants to produce 150,000 tons of lithium with two plants - and CO2-free. A test plant is to be built by the end of this year. The start-up has already found three major customers. LG, Stellantis and Renault all want to buy the German lithium they need for the production of batteries. To date, 80 percent of the world's lithium has been extracted from just three countries - Chile, Australia and Argentina.

With the IPO, Wedin wants to attract European investors in particular. Lithium production is complex and very expensive. Vulcan Energy needs 700 million euros for the first stage of commercial production alone. This would enable the Karlsruhe-based company to produce 15,000 tons per year.