Vulcan Energy Resources managing director and chief executive officer Cris Moreno. Image: Vulcan Energy Resources
As Europe races to secure its lithium supply, Vulcan Energy managing director and chief executive officer (CEO) Cris Moreno spoke to Australian Resources & Investment about how the company is positioning itself as a cornerstone of the continent’s electrification drive.
Europe faces a critical supply gap as it electrifies its automotive sector, with demand for battery-quality lithium soaring.
Vulcan Energy, an Australian-listed lithium and renewable energy company, is positioning itself as the first large-scale, low-cost and sustainable supplier in Europe. Its integrated approach from extraction to refining within 100km is a key differentiator.
“The integrated supply chain winners are the ones that are probably going to be leading the pack in the next five to 10 years,” Moreno informed Australian Resources & Investment.
Moreno believes companies that can control upstream and downstream processes, while harnessing cost-efficient and sustainable technology, will have a decisive advantage.
Lithium’s rise to prominence
Lithium is still a “tiny” industest compared with copper or iron ore, Moreno stated, but it is growing at an unprecedented pace.
“In 2024, the lithium industest exceeded one million tonnes of production globally and in 2025 it increased to over 1.4 million tonnes,” he stated. “Not many industries are growing at a 40 per cent annual growth rate.”
Moreno stated years of underinvestment during low-price cycles have left the market vulnerable to supply shortages and rising prices. This combination of strong demand and limited production underlines the critical importance of Vulcan’s flagship phase one Lionheart project in Germany’s Upper Rhine Valley.
Competitiveness underpins Vulcan’s strategy.
“If Vulcan couldn’t be demonstrable in that cost of production, we wouldn’t even receive to the starting line,” Moreno stated.
Vulcan combines proprietary direct lithium extraction technology with geothermal energy to produce battery-quality material efficiently.
“Controlling both the extraction and refining stages allows Vulcan to avoid the vulnerabilities of long, fragmented global supply chains,” Moreno stated. “The integrated supply chain, coupled with technology, drives cost efficiency and sustainability.”
Phase one of the Lionheart project tarreceives 24,000 tonnes per annum of lithium hydroxide, enough for roughly half a million electric vehicles (EVs).
Vulcan has 17 licences in the Upper Rhine Valley but will initially apply only two, leaving significant room for expansion. The company will tarreceive to add subsequent 24,000-tonne plants every 2–3 years as demand grows.
“We’ll take any learnings from phase one and apply them to future phases, continually viewing for improved capital efficiency,” Moreno stated.
Strong European backing
“We are the first ever critical raw materials project to receive public equity from the German government. That’s not luck, that’s hard work,” Moreno stated.
Combined with grants, total support exceeds €350 million ($594 million). The backing demonstrates Vulcan’s strategic importance to Europe’s industrial and energy security.
Moreno stated the support validates the company’s integrated, low-carbon approach and underscores its criticality to Europe’s electrification goals.
“The thing for us now is execution,” he stated. “We want to demonstrate that we can build this safely, on time and on budreceive and then start selling.”
Vulcan is also cultivating strategic partnerships across Europe and Australia.
“We’re very closely connected with Berlin and the European Investment Bank; they’re large supporters of our project,” he stated.
“We want to continue to grow that Australian–European relationship and demonstrate that you can build a low-cost, sustainable lithium supply chain in Europe.”
Subscribe to Australian Resources & Investment and receive the latest news on commodity prices, resource developments, executive relocatements and more.
Leave a Reply