Vulcan and Stellantis have entered into a phased project agreement (Project), aimed at developing, building, and operating geothermal renewable energy assets to help decarbonise the Company’s energy supply in Rüsselsheim, by providing renewable heat.
• Stellantis aims to be the auto industry champion in climate change mitigation, becoming carbon net zero by 2038, with a 50% reduction by 2030. This requires Stellantis, as a mobility tech company to decarbonise and localise its energy supply across its manufacturing facilities.
• In the northern area of the Upper Rhine Valley in Rüsselsheim am Main, Stellantis maintains a large manufacturing facility in which the DS 4 and Opel Astra models are produced, including the electrified variants. This facility in the German state of Hesse is also the traditional home of the Opel brand and the German headquarters of Stellantis.
• The planned Project will be at the northernmost extent of Vulcan’s focus area in the Upper Rhine Valley.
• The first phase of the Project will include a Pre-Feasibility Study for the construction of geothermal assets for Stellantis’ Rüsselsheim facility, carried out by Vulcan and based on existing data. The following phase, if the first phase is successful, will focus on drilling and more advanced studies and development.
• Stellantis will aim to source funding for 50% of the project development after the first phase.
This partnership with Vulcan reinforces our commitment to promoting greater clean energy solutions across our enterprise,” said Stellantis CEO Carlos Tavares. “It is one of many actions we’ve taken to driveresults, impact, and sustainability in alignment to our Dare Forward 2030 strategic plan.”
“I am happy about the partnership of Stellantis, and Vulcan Energy announced ,” said Boris Rhein, Minister President of Hesse. “This is positive news for Hesse because it shows that in our state, climate protection and state-of-the-art industrial production through innovative ideas are perfectly compatible.”
Vulcan’s Managing Director and CEO, Dr. Francis Wedin, said, “Vulcan’s core mission is decarbonisation, through carbon neutral, zero fossil fuels lithium and renewable energy supply. Vulcan is here to support Stellantis, our largest lithium Customer and one of our major shareholders, to decarbonise Stellantis’ automotive production in Europe. This further increases our decarbonising impact on the European electric vehicle industry, complementing the carbon avoidance from our Zero Carbon Lithium™ Project, whilst creating shareholder value. We remain focused on our core geothermal-lithium developments in the centre of the Upper Rhine Valley Brine Field, to service our customers, including Stellantis. Our joint Project is a complementary opportunity to expand our development pipeline to some of the outer lying areas in the Upper Rhine Valley, where we can also test for extensions to our lithium development, supported by industrial partners like Stellantis.”