Vulcan Energy Advances Key Lithium Project with Strategic Appointment

Vulcan Energy strengthens its board with a Hochtief executive as field operations progress for its flagship lithium project, targeting 2028 production start.

Vulcan Energy is moving decisively from the planning stages into execution for its flagship Lionheart lithium initiative. The company has strengthened its strategic partnership with construction giant Hochtief through a key board appointment, while field operations at its drilling sites continue to progress, signaling a sharpened focus on project delivery.

Field Operations Gain Momentum

On the ground, the company is advancing its operational timeline. The LiThermEx production license, granted in March 2026, secures the Insheim geothermal extraction area for an initial six-year period. Vulcan Energy aims to secure a long-term extension to cover the project's planned 30-year mine life.

Simultaneously, preparatory work has commenced at the second drilling site, Trappelberg, located near Landau. Following the successful completion of work at the first site, Schleidberg, the core drilling operations at Trappelberg are scheduled to begin in the second half of 2026. The company anticipates securing additional lithium production licenses to underpin the targeted commencement of production in 2028.

Board Strengthened by Hochtief Executive

A significant development in corporate governance is the immediate appointment of Roberto Gallardo to Vulcan Energy's Board of Directors. Gallardo serves as the Chief Strategy Officer at Hochtief. This move directly results from the comprehensive financing package agreed upon in December 2025, under which the German construction conglomerate invested a total of 169 million euros. This investment secured Hochtief a 15.41 percent stake in Vulcan Energy and included the right to nominate a board director.

Gallardo brings over three decades of international experience in the infrastructure and construction sectors, where he is expected to provide oversight for the upcoming construction phase. Hochtief and its subsidiary Sedgman are already serving as the principal contractors for the Lionheart project. According to a mandatory disclosure, Gallardo currently holds no Vulcan shares or contractual interests, a fact that underscores his independent position on the board.

Share Performance and Upcoming Milestones

Despite these operational and strategic steps, market sentiment has remained subdued. The stock closed at 2.04 euros on Friday, reflecting a year-to-date decline of over 21 percent and leaving the share price trading notably below its 200-day moving average.

The corporate calendar for the coming weeks is set to provide new fundamental data points:
* 15 April 2026 Deadline: Cut-off for director nominations.
* Late April 2026: Publication of the quarterly report.
* 28 May 2026: Annual General Meeting.

The imminent quarterly interim report is anticipated to provide detailed insight into the current cost structures of the ongoing construction phase and the precise timeline for forthcoming drilling activities.