Vulcan Energy Resources (ASX:VUL) started lithium hydroxide production at its central lithium electrolysis optimization plant in Germany, according to a Friday filing with the Australian bourse.
The lithium hydroxide was produced using high-purity lithium chloride concentrate from brines at the adsorption-type direct lithium extraction optimization plant, the filing said. The chemical compound will be supplied for battery-grade qualification with the company's offtake partners while the first phase commercial plant is being built.
The company's project financing process with a debt structuring group is ongoing, with BNP Paribas leading the process, according to the filing.
Vulcan Energy shares rose past 1% in morning trade Monday.
Price (AUD): $5.00, Change: $+0.07, Percent Change: +1.42%
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