HOCHTIEF has expanded its partnership with Vulcan Energy to become an anchor investor in the Lionheart Project, which aims to produce lithium for 500,000 electric vehicles annually while supporting Germany's clean energy initiatives.
Information on the Target
The Lionheart Project, located in the Upper Rhine Valley, aims to produce 24,000 tons of battery-grade lithium hydroxide monohydrate (LHM) annually from geothermal brine, while also generating renewable heat and energy. The project has secured agreements with leading European customers in the battery supply chain, underscoring its commercial viability and strategic significance.
Recognized as a "strategic EU project" under the Critical Raw Materials Act, the Lionheart Project has received substantial public funding, including €204 million in grants from the German government and various state governments. Vulcan Energy, the project's developer, has secured a total financing package of €2.193 billion, which includes key financing of €250 million from the European Investment Bank.
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Industry Overview in Germany
Germany's lithium industry is gaining traction amid the global shift towards electric vehicles (EVs) and renewable energy sources. As the demand for lithium intensifies due to its critical role in battery product
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HOCHTIEF
invested in
Vulcan Energy
in 2025
in a Strategic Partnership deal
Disclosed details
Transaction Size: $169M
Enterprise Value: $2,193M
Equity Value: $56M