DGAP-Ad-hoc: Vulcan Energy Resources Limited / Key word(s): Contract
Vulcan Energie Ressourcen GmbH and Mannheim-based energy company MVV sign 20-year supply agreement for CO²-free heat
Vulcan Energie Ressourcen GmbH (Vulcan) and MVV Grüne Wärme GmbH, a company being part of the MVV Group, have signed a 20-year heat supply agreement.
Under the agreement, which is due to come into effect in 2025, Vulcan will supply renewable heat with a total volume of between 240 and 350 gigawatt hours per year to MVV.
The heat will be supplied from Vulcan's planned geothermal wells in the area surrounding the City of Mannheim. Heat will be transferred via heating grids and a series of underground pipes that deliver hot water or steam to buildings in the local community.
This is the first of a number of planned district heating agreements for Vulcan, the Company is developing its Mannheim licence as part of a planned larger Phase 2 of the Zero Carbon Lithium(TM) Project.
The conclusion of this contract proves that the supply of green heat is a sustainable and attractive business model that meets with great interest from municipal utilities.
05-Apr-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Vulcan Energy Resources Limited|
|Level 11, Brookfield Place, 125 St Georges Terrace|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1320523|
|End of Announcement||DGAP News Service|
1320523 05-Apr-2022 CET/CEST