Enel unit, Vulcan Energy to jointly develop geothermal lithium in Italy

Enel SpA unit Enel Green Power, or EGP, and lithium producer Vulcan Energy Resources Ltd. agreed to jointly explore and develop geothermal lithium projects in Italy, Vulcan said July 8.

As part of the agreement, the companies will assess the potential of Vulcan's Cesano license in Rome through a joint scoping study. Wells drilled by EGP in the area yielded hot geothermal brine with high lithium values, according to Vulcan.

EGP and Vulcan will co-own Cesano in a 50/50 split.

"Vulcan is aiming to increase the future supply of our sustainable lithium product in response to significant customer demand, as we leverage our extensive experience in lithium extraction from heated brines to have a materially decarbonizing effect on global electric vehicle supply chains," Vulcan's Managing Director, Francis Wedin, said in a statement.

Meanwhile, Vulcan said that it has secured a positive result for the environmental impact assessment of its Zero Carbon Lithium geothermal lithium project in Germany, which is expected to begin commercial production in 2024.

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