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EQS-Ad-hoc: Vulcan Energy Resources Limited / Key word(s): Financing
Vulcan Energy Resources Limited: Vulcan receives 100 million euro funding commitment for heat supply project in Landau
12-Nov-2024 / 00:31 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Vulcan receives 100 million euro funding commitment for heat supply project in Landau
Vulcan Energie has received a government funding commitment for the HEAT4LANDAU project, which aims to decarbonise the district heating networks in Landau, Rhineland-Palatinate. The project includes the infrastructure for the generation, transport and supply of up to 255 MW of geothermal energy. The funding comes from subsidies from the Federal Ministry for Economic Affairs and Climate Protection (BMWK) and the European Recovery and Resilience Facility (ARF). These are provided via the German Recovery and Resilience Plan (DARP) as part of the guidelines for federal funding for efficient heating networks (BEW). The BEW funding will be paid out in proportion to the total eligible expenditure: around 22 million euros in 2026 and a further 78 million euros in 2027.
The HEAT4LANDAU project is an integral part of the company's first ‘Lionheart’ project phase.
End of Inside Information
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