(Boursier.com) — Stellantis NV and Vulcan Energy Resources Limited have signed a binding agreement in principle for the first phase of a geothermal development project, to decarbonize the energy mix of the Mulhouse industrial site, where the DS 7, Peugeot 308 and e-308 are manufactured , 508 and the new 408.
The first phase of this project, in the southernmost part of the Vulcan intervention area (upper Rhine valley), will include a preliminary feasibility study for the construction of a renewable geothermal energy installation for the Stellantis plant, led by Vulcan, which will also assess the potential for lithium production. If this study is successful, the next phase will consist of 3D seismic exploration, further studies and development.
Subject to the success of the feasibility study, Stellantis and Vulcan envisage the development of the project on a 50/50 basis.
According to estimates, this project could contribute to meeting a significant part of the site’s annual energy needs as early as 2026.
The Observatory will formulate recommendations for public investments which will be supported by the recently announced “2 billion euro French investment fund for critical raw materials”.
Stellantis is taking a holistic approach to decarbonization to become a carbon-neutral company across all domains by 2038, with single-digit offsetting of remaining emissions. This agreement with Vulcan Energy marks for Stellantis a 2nd potential use of renewable geothermal energy to decarbonize and localize the energy supply of one of its industrial sites. This agreement also reinforces Vulcan’s carbon neutral impact on the European electric vehicle sector, complementing the carbon footprint of its Zero Carbon Lithium project and creating shareholder value.
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