- The project could supply a significant portion of the Rüsselsheim plant's energy needs by 2025.
- The first phase includes a pre-feasibility study for geothermal assets.
- Stellantis will aim to fund 50% of the project development.
- The project is supported by the local government.
Project Overview
Stellantis N.V. and Vulcan Energy Resources Limited have signed a binding term sheet for the first phase of a multiphase project to develop geothermal energy projects aimed at decarbonizing Stellantis’ Rüsselsheim industrial site in Germany. The project could provide a significant portion of the site's annual energy needs starting in 2025.
Project Phases
The first phase, located in the Upper Rhine Valley, includes a pre-feasibility study for constructing geothermal assets for Stellantis’ facility, conducted by Vulcan. If successful, the next phase will focus on drilling and advanced studies. Stellantis aims to source funding for 50% of the project development, with support from the local government.
Energy Production
The project aims to produce clean electricity and supply it to the grid for both internal and external consumption, in line with Germany’s Renewable Energy Act (EEG). Additionally, it will produce heat to be transferred to Stellantis’ manufacturing site.
Strategic Importance
This agreement marks Stellantis’ first potential use of renewable geothermal energy to decarbonize and localize its energy supply at an industrial site. It complements Vulcan’s core mission of decarbonization through renewable energy and carbon-neutral lithium supply.
Local and Industry Impact
The partnership is seen as a positive development for the state of Hesse, demonstrating that climate protection and industrial production can coexist. The agreement also enhances Vulcan’s impact on the European electric vehicle industry, complementing its Zero Carbon Lithium™ Project and creating shareholder value.
