Off The Wire
Vulcan to supply CO2-free lithium to Stellantis from Germany
BERLIN, Nov 29 (Reuters) - Lithium developer Vulcan Energy Resources said on Monday it had signed a deal to supply the world's fourth-largest automaker Stellantis with climate-friendly lithium from Germany.
The company said it will supply up to 99,000 tonnes of the lithium from 2026.
Lithium is a core component for making lithium-ion batteries used in electric vehicles. It has gained traction rapidly as the world moves towards cleaner forms of energy.
Vulcan, one of a number of companies testing a direct lithium extraction (DLE) method that uses less land and groundwater, last week signed a second supply deal with Renault. With Opel as part of Stellantis, the deal established the first lithium supply chain within Germany, said Vulcan. Stellantis also includes the Jeep and Peugeot brands.
"The trust industry has placed in us is growing and is giving us fresh tailwind," said Horst Kreuter, Managing Director of Vulcan Energy Resources.
"Winning Stellantis as a customer ... is an important signal for the European lithium market and sustainable supply chains and strengthens confidence in our Zero Carbon Lithium project," he added.
(Writing by Madeline Chambers Editing by Raissa Kasolowsky)