Vulcan Energy Founder Trims Stake Below 2% as Goldman Sachs Builds Position

Vulcan Energy founder Francis Wedin reduced his voting rights to 1.98%, while Goldman Sachs raised its stake to 5.02% amid lithium sector pressure.

Francis Wedin, the founder of German-Australian lithium developer Vulcan Energy, has cut his voting rights in the company from 4 percent to 1.98 percent, according to a mandatory disclosure published yesterday. The reporting threshold was crossed last Thursday, and Wedin now holds 9,468,285 voting rights.

The move comes against a backdrop of sustained pressure on the share price. In today's trading the stock stood at EUR 1.16, down 1.5 percent, hovering just above the 52-week low of EUR 1.13 touched on Monday. Pre-market indications had put the shares at EUR 1.15, a decline of 2.0 percent.

Diverging Bets Among Major Holders

Not every large investor is heading for the exits. The Goldman Sachs Group disclosed an increase in its position on 17 September, having crossed the reporting threshold on 11 September. The US investment bank now holds 5.02 percent of voting rights and instruments, up from 4.82 percent previously.

Those opposing transactions lay bare the differing convictions within the shareholder base. While institutional players such as Goldman Sachs are adding exposure, the founder's side continues to retreat. Shifts of this kind tend to draw heightened attention from market participants, since they raise questions about the long-term commitment of key insiders.

VULSORB Output Begins in Germany

On the operational front, Vulcan Energy reported roughly a week ago that commercial production of its proprietary VULSORB extraction material had started in Germany. The substance is destined for the initial filling of the extraction columns at the Lionheart project, which is slated to come on stream in the second half of 2028.

Company figures show the process achieved extraction efficiency of up to 95 percent across thousands of test cycles at industrial scale — a data point that underpins the technical case for the project even as financing and market conditions remain challenging.

Sector-Wide Headwinds Persist

The broader environment for lithium developers remains demanding. According to media reports, stocks across the sector came under pressure last Thursday, weighed down chiefly by persistent worries over global battery demand. Vulcan Energy thus continues to operate in the tension between operational milestones and overarching industry headwinds.