Vulcan Energy aims for the stock exchange

The lithium start-up is already listed in Australia. Now the company also wants to move to the Frankfurt floor.

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

Vulcan Energy wants to recover lithium from thermal water from the depths of the Upper Rhine Graben. Until 2024 Vulcan Energy wants to produce 150,000 tons of lithium with two plants - 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 as well as Renault want to buy the German lithium, which they need for the production of batteries. So far, 80 percent of the world's lithium is mined from just three countries - Chile, Australia and Argentina.

With the IPO, Wedin wants to appeal primarily to European investors. 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.