Vulcan Energy Plots Landau Geothermal Overhaul as Drilling Fleet and Funding Lines Take Shape
Published on 11/11/2026 at 22:31 | Editorial boerse-global.de
Vulcan Energy is preparing to rebuild its Landau geothermal plant for combined heat and lithium extraction, a project carrying a price tag of EUR 60–80 million in additional investment — and a construction calendar that stretches well past the end of the decade.
The plan, reported by Rheinpfalz, puts preparatory work on the site in 2026, with the expansion itself kicking off in spring 2027. Drilling would follow no earlier than autumn 2027. Before the rigs turn, the existing power facility is to be dismantled, while the heating plant stays in place. Completion is targeted for the end of 2028, with additional boreholes planned at the site and drilling crews slated to operate around the clock.
That timeline turns execution into the central question for shareholders. The blueprint is concrete, but the gap between preparation and finished, usable plant is long, and any slippage in construction or drilling would weigh on the schedule.
Community Impact Moves Into View
Local disruption is emerging as a practical test of the project. According to SWR, Vulcan chief Thorsten Weimann estimates that around 200 residents could be affected by traffic, noise, light and construction dirt. A 16-metre noise barrier is among the planned mitigations, and an information event is scheduled for November.
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Site preparation is already under way, per SWR, with the drilling rig due to be erected next spring — meaning the build-out of site infrastructure comes first, ahead of the actual drilling work.
A Wider Programme With a 24,000-Tonne Target
The Landau overhaul sits inside a broader vision. Rheinpfalz cites planned infrastructure investment of roughly EUR 1.5 billion for Lionheart, which targets annual capacity of 24,000 tonnes of lithium hydroxide monohydrate. Those ambitions give the Landau work economic weight, though they remain tied to successful delivery of the wider project — leaving the start of the expansion, the preparation of drilling and adherence to the construction plan as the milestones investors can actually check.
Second Rig Mobilised as Lionheart Stays on Track
On the operational front, Vulcan said yesterday it had mobilised its second heavy drilling rig, V10, to the Trappelberg site for Lionheart. The unit is meant to enable parallel work within a 28-hole programme and to allow activity at multiple locations at once. Vulcan has invested about EUR 51 million in its two rigs, and said Lionheart remains on schedule and on budget.
That message echoes the company's quarterly report of 30 October, covering the period ended 30 September 2026, in which Vulcan said drilling and construction were tracking time and cost plans. During that quarter the company drew EUR 53.7 million from strategic equity calls and received EUR 10.7 million in German subsidy payments.
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Register Shifts as the Stock Jumps
Meanwhile, the shareholder base has been changing. Van Eck Associates Corporation and affiliated entities have not counted as major shareholders of Vulcan since Monday, according to a notice published today. Other financial houses have also reported position changes: a little over a week ago, Morgan Stanley's combined holding of voting rights and instruments fell to 3.96% from 5.12%, while Citigroup's aggregate position dropped to 6.38% from 7.71%, with Citigroup Global Markets Limited named as a direct shareholder holding at least 3%.
Investors shrugged off the register moves. The stock climbed 8.1% to EUR 0.80.
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