Jun 27, 2022
Stellantis becomes shareholder in decarbonized lithium company Vulcan Energy
The strategic alliances along the European battery value chain continues to expand. Last week, Stellantis announced a €50 million equity investment in Vulcan Energy, becoming the second largest shareholder in the lithium company.
This investment will go towards Vulcan’s planned production expansion drilling in its producing Upper Rhine Valley Brine Field (URVBF) and will increase low-carbon production of lithium hydroxide needed for Stellantis’ European production of electric vehicles. In addition to this investment, the initial binding offtake agreement already in place between both companies has been extended to 10 years.
At EBA250, we are particularly happy to see such development in the upstream value chain. It is indeed where Europe still has the largest gaps to fill in. Alliances of this type will derisk the investment for both parties securing offtake and not the least reliable and sustainable supply.
For more information, read Stellantis’ press release.
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