Vulcan
Europe’s Unprecedented Need for Lithium
Europe now sells more electric vehicles than China (ref: Forbes, Aug 2020). It is the fastest growing electric vehicle manufacturing market in the world. It is exponentially increasing its domestic lithium-ion battery production capacity to meet this demand, making it the fastest growing lithium market in the world.
Europe will need approximately >415kt lithium hydroxide supply by 2029, greater than the entire global market today.
Europe has zero domestic production of battery-quality lithium hydroxide chemicals. 80% of current supply comes from China.
Vulcan’s Zero Carbon Lithium® Project will reduce this almost total reliance on China for battery grade lithium chemicals.
EUROPEAN LITHIUM-ION BATTERY CELL PRODUCTION FORECAST TO 2029
Why Europe?
Vulcan’s negligible distance to markets is a cost advantage as well as carbon advantage!
Vulcan’s Zero Carbon Lithium® Project is at the centre of this exciting new industry, the biggest change in transport since the internal combustion engine over a century ago.
AT THE CENTER OF FASTEST GROWING LITHIUM MARKET
THE EU'S PUSH FOR CARBON NEUTRAL
- The EU declared a climate emergency and pledged to cut emissions by 55% by 2030 with a goal of net zero by 2050.
- The European Commission is requiring ‘CO2 Passports’ for all electric vehicles, detailing their full CO2 impact.
- According to estimates, using traditional hard rock sources, it will take 231 million tonnes CO2 emitted to produce just the lithium needed to electrify Europe’s passenger vehicles, and 1.05 billion tonnes CO2 worldwide.
- Volkswagen, and other European OEMs, are placing greater importance on carbon-neutral supply chains for their electric vehicles, putting in place sustainability metrics for suppliers on par with price.
- Current lithium supply chains are not geared towards low carbon intensity production, leaving a gap in the market for Zero Carbon Lithium®
- Vulcan’s process and product could therefore have a significant, percentage-sized impact on Europe’s annual CO2 reduction requirements to get to net zero by 2050.
THE NEW EU BATTERY REGULATION
New measures announced in December 2020 including:
Lithium fit for Europe
Vulcan’s proprietary process removes the carbon footprint of typical lithium extraction, satisfying European OEMs requirement for zero carbon electric vehicle raw materials supply chains.
At Europe’s centre…
Vulcan’s project location removes the high carbon footprint and cost of global lithium chemicals transport.
…the world’s fastest growing lithium market
Perfectly poised to supply a market with unprecedented demand growth. Strategic domestic supply independence for Europe.
This activity has received funding from the European Institute of Innovation and Technology (EIT). This European body receives support from the Horizon 2020 research and innovation programme.