Highlights:
- Binding agreement signed to acquire 100% of geothermal surface consultancy company Global Engineering and Consulting Gmbh („gec-co“: https://www.gec-co.de/en/), subject to sharesholder approval.
- gec-co has a world-leading engineering team with significant experience in surface development of geothermal projects in Germany and world-wide, with offices in Augsburg, Bremen and Karlsruhe.
- This follows from Vulcan’s recent agreement to acquire sub-surface development company GeoT.
- Combined, the Vulcan group will have an unparalleled surface and sub-surface geothermal development team to execute on its Zero Carbon Lithum strategy.