Ashurst advises dual-listed, green lithium producer Vulcan Energy Resources Limited (Vulcan Energy) in connection with its EUR 50 million capital raising and equity investment by Stellantis N.V. Vulcan Energy has entered into an agreement with Stellantis N.V. (Stellantis) providing for a EUR 50 million (A$76 million) equity investment as a result of which Stellantis will become the second largest shareholder in Vulcan Energy, at an 8% shareholding. Proceeds of the share placement are earmarked for Vulcan Energy’s planned production expansion drilling in the Upper Rhine Valley brine field.
Vulcan Energy is aiming to become the world’s first integrated lithium chemicals and renewable energy producer with a net zero carbon footprint. Its ZERO CARBON LITHIUM™ Project intends to produce a battery-quality lithium hydroxide chemical product from its combined geothermal energy and lithium resource, which is estimated to be Europe’s largest lithium resource, located in Germany.
The cross-border Ashurst team advising on this transaction consisted of (i) in Germany: partner Matthias von Oppen (global lead), counsel Dr Valentin Pfisterer, associate Jeffrey Miller and transaction counsel Melissa Bach (all Corporate Transactions, Frankfurt) and (ii) in Australia: partner Carl Della-Bosca, counsel Ben Stewart and associate Daniel Lucanus (all Corporate, Perth)
Ashurst has already advised Vulcan Energy in connection with its dual listing on the Regulated Market of the Frankfurt Stock Exchange in the Prime Standard segment.