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Vulcan Energy Resources Reports First Half Results and Progress on Key Projects
Vulcan Energy Resources, a leading geothermal and lithium company, has released its financial results for the first half of 2025, along with updates on its major projects.
The company reported a net loss of €30.7 million for the period, with revenue totalling €4.1 million. The majority of the revenue, €2.3 million, came from electricity sales from the geothermal power plant in Insheim. Additional revenues were generated from Vercana (€0.5 million), Comeback Personnel Services (€0.3 million), and other income (€1.0 million).
The 'Strategic Project' status for Vulcan was granted by CRMA in March 2025. This recognition underscores the company's commitment to sustainable energy solutions and its significant role in the industry.
Vulcan has made significant strides in its key projects. The Lionheart project in the Upper Rhine Graben has seen progress, with the start of production of battery-grade lithium hydroxide monohydrate (LHM) and the commencement of drilling at the Schleidberg site on May 27, 2025 (fifth well in the Phase-One area). Drilling commencement in Landau is also part of the progress on the Lionheart project.
In April 2025, Vulcan began supplying heat to EnergieSüdwest under a 35-year take-or-pay contract. This partnership further cements Vulcan's position as a key player in the renewable energy sector.
The company's net assets decreased to €325.9 million, and liquid assets decreased to €48.8 million. Depreciation/amortization amounted to €6.1 million, and the net interest result was €1.7 million.
Vulcan has invested funds primarily in the Geox acquisition, drilling and site works, preparations for CLP/LEP, and the overhaul of two electrical drilling rigs.
The auditor declared his independence on September 9, 2025, and permits were granted for a 30-MW geothermal power plant and a switchgear in the Lionheart project.
It's worth noting that the new investors who conducted a placement of 30 million euros at Vulcan Energy Resources in July 2025 have not been explicitly named or identified in the available search results.
Furthermore, after the reporting date, approved public grants of €104 million, a placement of €30 million (July), a supply contract with NORAM Electrolysis Systems, and the construction and operating permit for the Central Lithium Plant in Frankfurt-Höchst were announced. €10.9 million was received from a January share issue.
On January 13, 2025, LHM production commenced at the Frankfurt-Höchst site (CLEOP). The conditional debt commitment letter from December 2024 was extended to September 2025. The company also updated its lithium and geothermal resources for Mannheim.
In conclusion, Vulcan Energy Resources continues to make significant strides in its mission to provide sustainable, renewable energy solutions. The company's progress on key projects, financial results, and strategic partnerships position it well for continued growth and success in the future.
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