Vulcan Energy Resources Limited has announced that the European Investment Bank (EIB) Board has approved its participation in the Phase One financing of Vulcan’s project. This initiative aims to produce 24,000 tonnes of Lithium Hydroxide Monohydrate annually, potentially supporting the production of approximately 500,000 electric vehicles.
The EIB plans to offer up to €500 million in financing, equivalent to about A$819 million. This financial support is subject to final due diligence, completion of legal agreements, and internal approvals. The financing will be structured as a direct uncovered facility, export credit agency-backed facilities, and liquidity lines for commercial banks.
Vulcan views the EIB’s involvement as a pivotal element in its ongoing funding efforts. The company has engaged extensively with commercial banks and government-backed export credit agencies in 2024.
It has already secured a €120 million commitment from Export Finance Australia and anticipates further support from Export Development Canada, Bpifrance Assurance Export, and SACE.
