Vulcan Energy (VUL.AX) announced that it has entered into a major project framework agreement valued at approximately 40 million euros with Siemens AG for the supply of engineering, automation, telecommunications, and building technology systems for its flagship Lionheart Project in Germany's Upper Rhine Valley.
Lionheart is an integrated lithium and renewable energy project targeting annual production of 24,000 tonnes of lithium hydroxide monohydrate (LHM), sufficient for around 500,000 electric vehicle batteries. The project will also deliver 275 GWh of renewable power and 560 GWh of heat per year to local consumers, with an estimated 30-year project life.
The Siemens Agreement represents the final major supply contract for Lionheart, following other key agreements signed in late 2025. Siemens will serve as the Main Automation Contractor (MAC) for Vulcan's upstream Lithium Extraction Plant in Landau, the downstream Central Lithium Plant at Industrial Park Höchst in Frankfurt, and production well sites. Scope includes engineering and delivery of distributed control systems, industrial networks, cybersecurity infrastructure, building automation, safety systems, and lifecycle services.
The framework agreement comprises three contracts covering the Lithium Extraction Plant, Central Lithium Plant, and production well sites. Vulcan has committed to purchase orders with Siemens totaling at least 40 million euros. Siemens will provide goods and services under agreed specifications and warranties, with a 24-month warranty period. The agreement also includes advance payment guarantees, warranty guarantees, mutual indemnities, and standard suspension and termination rights, alongside market-standard liability and warranty provisions.
VUL.AX was trading at A$3.54 up A$0.02 or 0.57%.
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