stellantis signed a agreement binding with Vulcan Energy Resources, an Australian-based energy metal exploration company, for the development of new geothermal projects with the purpose of decarbonize its industrial site a russelsheim, in Germany. The goal is to produce clean electricity and to supply it to the network for both internal and external consumption in the compliance with German law on renewable energies (EEG).
Passenger cars are produced at the industrial site in Russelsheim DS4 e Opel Astra.
Pre-feasibility study
The agreement is valid for a first part of a multi-phase project.
The first step of the agreement will be one pre-feasibility study of the operation. If the results are positive we will proceed to drilling operations and study activities and more advanced development.
The geothermal project could help the site cover up an important part of his requirements annual energy could start from 2025.
Stellantis points to find funding for 50% of the development of the project, which is also supported by the local government.
“The main mission of Vulcan and the decarbonization, through the supply of renewable energy and lithium obtained without the use of fossil fuels and without carbon dioxide emissions. Vulcan means support Stellantis, Our major purchaser of lithium and one of our largest shareholders, in decarbonising its operations in Europe,” he said Francis Wedin, managing director and CEO of Vulcan.
"This partnership with Vulcan strengthen our commitment a promote clean energy solutions throughout our company. It represents one of the many initiatives we have undertaken to achieve results, impacts and sustainability in line with ours strategic plan Dare Forward 2030" he has declared Carlos Tavares, CEO of Stellantis.
stellantis has a goal to reach the finish line zero emissions by 2038, with a 50% reduction by 2030.
