German Startup Vulcan Secures €104M Government Funding for Zero-Carbon Lithium Project

Published: Jul 25, 2025 14:15

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German startup Vulcan announced that it has secured €104 million in government funding for the construction of a zero-carbon lithium project. The total investment for the project is €690 million. It plans to extract lithium chloride in Rhineland-Palatinate and convert it into lithium hydroxide near Frankfurt. The project is expected to commence production by the end of 2026, with an annual production capacity of 24,000 mt (which can meet the demand of 500,000 EVs). According to data from the German Raw Materials Agency, the country's annual lithium demand may reach 170,000 mt by 2030, and it currently relies entirely on imports. An official from the Ministry of Economic Affairs stated that this initiative aims to address geopolitical challenges and establish a domestic supply chain for critical raw materials. The funding will be disbursed over 36 months starting from October 1, with 30% of the amount to be borne by the state government.

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