Vulcan Energy Resources (ASX:VUL) completed the acquisition of Germany-based Geox as part of consolidating the ownership of its upstream Phase One lithium and renewable energy assets, according to a Monday filing with the Australian bourse.
The assets include Geox's geothermal wells, renewable energy generation assets, and a geothermal and lithium license in the city of Landau in Germany, per the filing. They will now be part of Vulcan's upstream Phase One Lionheart project, the filing stated.
Vulcan Energy paid 3.3 million euros on April 7 and is due to make a final payment of 11 million euros any time up to Oct. 31, plus a 5% interest.
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