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Vulcan Energy, Stellantis to develop renewable energy assets in Germany

(Reuters) - Automaker Stellantis is set to invest in a geothermal energy project in Germany with lithium developer Vulcan Energy Resources to help power a manufacturing facility...
Vulcan Energy, Stellantis to develop renewable energy assets in Germany © Reuters. FILE PHOTO: The logo of Stellantis is seen on a company's building in Velizy-Villacoublay near Paris, France, February 23, 2022. REUTERS/Gonzalo Fuentes

(Reuters) - Automaker Stellantis is set to invest in a geothermal energy project in Germany with lithium developer Vulcan Energy Resources to help power a manufacturing facility for electric vehicles, Vulcan said on Tuesday.

The phased project is aimed at providing renewable heat to Stellantis' Rüsselsheim manufacturing facility, which produces the DS 4 and Opel Astra models, Australia-based Vulcan said in a statement.

Vulcan will initially carry out a pre-feasibility study for the development of geothermal renewable energy projects in Rüsselsheim.

The parties will seek public funding opportunities together to advance the project, Vulcan said.

Stellantis, which holds an 8% stake in Vulcan, will aim to source funding for 50% of the project development after the first phase of the project.

Stellantis wants battery electric vehicles to make up 100% of its European passenger car sales by 2030. It recently signed a deal with Australian miner Element 25 for the supply of manganese sulphite for batteries for its electric vehicles.

Vulcan already has a deal with Stellantis to supply lithium from its project in the Upper Rhine Valley.

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05-06-2023 07:22:32 (UTC+7)

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EUR/USD

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GBP/USD

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USD/JPY

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AUD/USD

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EUR/JPY

149.83

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Gold Futures

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Silver Futures

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Euro Stoxx 50

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Deutsche Lufthansa AG

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 EUR/USD1.0694↑ Sell
 GBP/USD1.2431↑ Sell
 USD/JPY140.11↑ Sell
 AUD/USD0.6598Sell
 USD/CAD1.3427↑ Sell
 EUR/JPY149.83Neutral
 EUR/CHF0.9733Buy
 Gold1,964.85↑ Buy
 Silver23.680↑ Buy
 Copper3.7165↑ Buy
 Crude Oil WTI73.26↑ Buy
 Brent Oil77.70Buy
 Natural Gas2.202Neutral
 US Coffee C180.60↑ Sell
 Euro Stoxx 504,323.52↑ Buy
 S&P 5004,282.37↑ Sell
 DAX16,051.23↑ Sell
 FTSE 1007,607.28Sell
 Hang Seng18,949.94↑ Buy
 Small Cap 20001,830.91↑ Buy
 IBEX 359,317.30Buy
 BASF46.790↑ Sell
 Bayer52.61↑ Buy
 Allianz210.15Sell
 Adidas159.52Buy
 Lufthansa9.303Buy
 Siemens AG159.28↑ Buy
 Deutsche Bank AG9.862Sell
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# So hôm qua # Chênh TG
SJC Eximbank6,650/ 6,690
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SJC Cantho6,635/ 6,707
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Cập nhật 05-06-2023 07:22:35
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Ngoại tệMua vàoBán ra
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EUR24.613,3825.991,59
GBP28.653,4729.875,26
JPY164,43174,07
KRW15,4818,86
Cập nhật lúc 07:16:01 05/06/2023
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