Vulcan Energy Secures EUR 879 Million Conditional Debt Commitment for Phase One

Vulcan Energy Resources Limited, through a subsidiary, has signed a conditional debt commitment letter worth EUR 879 million. This major financial milestone is part of the Phase One Project funding aimed at producing 24,000 tonnes of Lithium Hydroxide Monohydrate annually. This figure translates to powering approximately 500,000 electric vehicles.

The commitment comes from multiple institutions, including Export Finance Australia and various commercial banks. However, the debt facilities and credit approvals are subject to several conditions such as due diligence and final legal documentation.

The European Investment Bank Board has already approved participation up to EUR 500 million. Vulcan seeks additional financial backing to reach a total target of EUR 1.5 to 1.6 billion by mid-2025, with potential involvement from Export Development Canada, Bpifrance AE, and Italy's SACE.