11.12.2024 19:57:09

EQS-Adhoc: Vulcan Energy Resources Limited: Vulcan secures EIB Board approval to participate in Phase One financing

EQS-Ad-hoc: Vulcan Energy Resources Limited / Key word(s): Financing/Funds
Vulcan Energy Resources Limited: Vulcan secures EIB Board approval to participate in Phase One financing

11-Dec-2024 / 19:57 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Ad-hoc Notice: Disclosure of an inside information acc. to Article 17(1) MAR

 

Vulcan secures EIB Board approval to participate in Phase One financing

The Board of the European Investment Bank (EIB) has approved its participation in the Company’s debt financing process for its Phase One Project.  The Phase One Project is targeting the production of 24,000 tonnes per annum of Lithium Hydroxide Monohydrate (LHM), equivalent to approximately 500,000 EVs.

The EIB’s proposed financing could amount to up to €500m (~A$819m), pending completion of final due diligence, signing of legal documentation and final internal approval. The potential €500m financing envelope can be split into an EIB direct uncovered facility, funding under export credit agency (ECA) covered facilities, and as liquidity lines for participating commercial banks.

The EIB’s involvement is expected to serve as a cornerstone to complement the ongoing Phase One funding process. The Company is advancing its financing process following strong engagement throughout 2024 with commercial banks and government-backed ECAs. Vulcan has already received a €120m (~A$196m) commitment from Export Finance Australia, as well as an indication of strong support from Export Development Canada, Bpifrance Assurance Export and SACE.

 



End of Inside Information

11-Dec-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language: English
Company: Vulcan Energy Resources Limited
Unit 1, Level 11, 1 Spring Street
WA 6000 Perth
Australia
E-mail: dtydde@v-er.eu
Internet: www.v-er.eu
ISIN: AU0000066086
WKN: A2PV3A
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 2049411

 
End of Announcement EQS News Service

2049411  11-Dec-2024 CET/CEST

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