Lionheart by Vulcan Energy Resources: status and timeline

Lionheart

Extract battery-grade lithium from geothermal brines at carbon-neutral cost, proving DLE at scale for European supply security.

PilotStage 3 of 5

Construction under way in Frankfurt and Landau; 2028 production target.

Updated Sep 2026Checked 11 Oct0 updates this week

Milestones

Next · Commercial production start

Final Investment Decision and financing package secured3 Dec 2025Complete.
Financial Close of €2.2 billion funding28 May 2026Complete.
Groundbreaking at Frankfurt lithium chemicals plant24 Apr 2026Complete.
Sixth production well drilling completed on time and under budgetSep 2026Complete.
Commercial production startTarget 2028Not yet reached.
Ramp-up to nameplate capacityTarget 2029Not yet reached.

Most important updates

Upcoming

2028Commercial production start (next)
Q2 2028First lithium shipments to European battery makers
2029Ramp-up to nameplate capacity

Current obstacles

Regulatory approval for long-term extractionOperating for 30 years at scale requires environmental permits and proof that geothermal resources remain sustainable.
Direct lithium extraction technology scalingDLE must maintain high recovery rates and cost-competitiveness when moving from pilot to 24 kt/yr production.

Physics limits

Geothermal resource availabilityFew regions globally have sufficient geothermal heat combined with lithium brines. The Upper Rhine Valley is unique in Europe, making replication challenging.
Brine composition variabilityLithium concentration and associated ions vary with location and depth. Extraction must adapt to local geology.

How it works

3 parts

Geothermal Wells

Heat and lithium brines from below

Deep geothermal wells in the Upper Rhine Valley tap naturally warm brines containing lithium. The same wells that extract lithium supply heat energy.

Direct Lithium Extraction

Sorbent-based separation without mining

Lithium is extracted directly from brine using proprietary adsorbent materials, avoiding the evaporation ponds and freshwater waste of conventional mining.

Integrated Power

Geothermal electricity and district heating

Cooled brines return to ground; waste heat powers electricity grids and district heating, making operations carbon-neutral.

Spec sheet

Spec	Lionheart
Lithium hydroxide production capacity	24,000 tonnes per year^R (reported)
EV battery capacity served annually	~500,000 batteries^R (reported)
Renewable power co-product	275 GWh per year^R (reported)
Heat co-product for local consumers	560 GWh per year^R (reported)
Estimated operational lifespan	30 years^R (reported)

^R reported by the company

Update log

4 updates

About Vulcan Energy Resources

The team behind Lionheart

Vulcan Energy Resources

Lionheart zero-carbon lithium, geothermal extraction

Vulcan Energy Resources develops integrated lithium and renewable energy projects using geothermal extraction. The flagship Lionheart project in Germany's Upper Rhine Valley combines lithium hydroxide production with geothermal power generation, targeting carbon-neutral operations.

Zero-carbon lithium extraction from geothermal brines, avoiding mining's freshwater impact.
€2.2B Lionheart project in Germany achieved financial close May 2026; construction under way.
Target: 24 kt/yr lithium hydroxide, 275 GWh power, 560 GWh heat annually by 2028.

v-er.eu (opens v-er.eu)Company profile →

Founded: 20188 yrs
Headquarters: Australia
Status: Public
Valuation: $1Best. market capOct 2026estimate
Raised: $4.9B2 rounds
Last round: Financial Close · $2.5B28 May 2026
Works in: MaterialsLithium & critical mineralsEnergy
Coverage: 1 program · 4 updateslatest 1 Sep 2026checked 11 Oct
Partners: German government (KfW, BMWi) (opens kfw.de)
Suppliers: Siemens AG (opens siemens.com)
People: Francis Wedin (opens v-er.eu)FounderCristobal Moreno (opens v-er.eu)CEO & Managing DirectorHorst Kreuter (opens v-er.eu)Co-Founder & Chief Representative Germany

Spec

Lionheart

Lithium hydroxide production capacity

24,000 tonnes per year^R (reported)

EV battery capacity served annually

~500,000 batteries^R (reported)

Renewable power co-product

275 GWh per year^R (reported)

Heat co-product for local consumers

560 GWh per year^R (reported)

Estimated operational lifespan

30 years^R (reported)

Lionheart

Milestones

Most important updates

Upcoming

Current obstacles

Physics limits

How it works

Heat and lithium brines from below

Sorbent-based separation without mining

Geothermal electricity and district heating

Spec sheet

Update log

Sep 2026

Thu 28 May

Fri 24 Apr

Wed 3 Dec 2025

About Vulcan Energy Resources

Current obstacles

Physics limits

How it works

Heat and lithium brines from below

Sorbent-based separation without mining

Geothermal electricity and district heating

Spec sheet

Update log

Sep 2026

Thu 28 May

Fri 24 Apr

Wed 3 Dec 2025

About Vulcan Energy Resources