Vulcan Energy Resources (ASX:VUL) obtained a "Dark Green" rating from S&P Global Ratings for its green financing framework with Natixis CIB geared towards its zero-carbon lithium project, according to a Monday filing with the Australian bourse.
The rating is "allocated to projects and solutions that correspond to the long-term vision of a low-carbon and climate resilient future," as per S&P Global. Vulcan said it is the highest status received by a metals and mining company globally.
Vulcan's phase-one project will produce 24,000 tonnes per annum of battery-grade lithium hydroxide, which can power half a million electric vehicles a year and supply renewable energy of up to 275 gigawatt hours of power and 560 gigawatt hours of heat per annum, the filing stated.
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