Stellantis (NYSE: MTA. Euronext Paris: STLA), the mega-merger of FCA and PSA, and Vulcan Energy Resources Ltd. said today they have signed a “binding term sheet” for the first phase of a multi-phase project to develop new geothermal projects aimed at de-carbonizing the energy mix of Stellantis’ Mulhouse industrial site in France. The agreement represents the first joint project in France for the potential use of geothermal energy to de-carbonize and localize the energy supply for Stellantis’ European operations.
“Geothermal is one of many solutions we are exploring to achieve our carbon net zero goal by 2038, in alignment with our Dare Forward 2030 strategic plan,” said Arnaud Deboeuf, Stellantis Chief Manufacturing Officer. The agreement with Vulcan Energy is Stellantis’ second potential use of renewable geothermal energy to de-carbonize and localize its energy supply at an industrial site.
Mulhouse is where the DS7, Peugeot 308 and e-308, 508, and the new 408 are made. Based on current assumptions, the project could provide a significant portion of the industrial site’s annual energy needs starting in 2026, Stellantis said. It’s the latest move in the Stellantis fight against climate change with its ambitious goal of reaching carbon net zero emissions by 2038, with a 50% reduction by end of this decade.
The first phase of the project, located at the southernmost extent of Vulcan’s focus area in the Upper Rhine Valley, will include a pre-feasibility study (PFS) for the construction of geothermal renewable energy assets for Stellantis’ facility, conducted by Vulcan, which will also assess the potential for lithium production. If successful, the next phase will focus on 3D seismic exploration and more advanced studies and development. Subject to a successful PFS, Stellantis and Vulcan aim to develop the project jointly on a 50:50 basis.
In November 2022, Vulcan announced that it had started a number of initiatives to expand its geothermal renewable energy and Zero Carbon Lithium™ business into France and specifically Alsace, which accounts for roughly one third of the Upper Rhine Graben (a depression between geologic faults). Vulcan has applied over the Mulhouse area for an exclusive lithium and geothermal license to secure another 480 km2 of development area within the Upper Rhine Graben Valley Brine Field.
“Vulcan’s core mission is de-carbonization, through renewable energy and carbon neutral lithium supply,” said Vulcan Managing Director and CEO, Dr. Francis Wedin. “Vulcan is here to support Stellantis, our largest lithium customer and one of our major shareholders, to de-carbonize its operations in Europe. While we remain focused on our Phase One geothermal-lithium developments in the center of the Upper Rhine Valley Brine Field, this project is a complementary opportunity to expand our future development pipeline to some of the outer lying areas in the Upper Rhine Valley, supported by industrial partners like Stellantis.”
AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Stellantis, Vulcan Sign Deal for Renewable Energy at Mulhouse
Stellantis (NYSE: MTA. Euronext Paris: STLA), the mega-merger of FCA and PSA, and Vulcan Energy Resources Ltd. said today they have signed a “binding term sheet” for the first phase of a multi-phase project to develop new geothermal projects aimed at de-carbonizing the energy mix of Stellantis’ Mulhouse industrial site in France. The agreement represents the first joint project in France for the potential use of geothermal energy to de-carbonize and localize the energy supply for Stellantis’ European operations.
“Geothermal is one of many solutions we are exploring to achieve our carbon net zero goal by 2038, in alignment with our Dare Forward 2030 strategic plan,” said Arnaud Deboeuf, Stellantis Chief Manufacturing Officer. The agreement with Vulcan Energy is Stellantis’ second potential use of renewable geothermal energy to de-carbonize and localize its energy supply at an industrial site.
Mulhouse is where the DS7, Peugeot 308 and e-308, 508, and the new 408 are made. Based on current assumptions, the project could provide a significant portion of the industrial site’s annual energy needs starting in 2026, Stellantis said. It’s the latest move in the Stellantis fight against climate change with its ambitious goal of reaching carbon net zero emissions by 2038, with a 50% reduction by end of this decade.
The first phase of the project, located at the southernmost extent of Vulcan’s focus area in the Upper Rhine Valley, will include a pre-feasibility study (PFS) for the construction of geothermal renewable energy assets for Stellantis’ facility, conducted by Vulcan, which will also assess the potential for lithium production. If successful, the next phase will focus on 3D seismic exploration and more advanced studies and development. Subject to a successful PFS, Stellantis and Vulcan aim to develop the project jointly on a 50:50 basis.
In November 2022, Vulcan announced that it had started a number of initiatives to expand its geothermal renewable energy and Zero Carbon Lithium™ business into France and specifically Alsace, which accounts for roughly one third of the Upper Rhine Graben (a depression between geologic faults). Vulcan has applied over the Mulhouse area for an exclusive lithium and geothermal license to secure another 480 km2 of development area within the Upper Rhine Graben Valley Brine Field.
“Vulcan’s core mission is de-carbonization, through renewable energy and carbon neutral lithium supply,” said Vulcan Managing Director and CEO, Dr. Francis Wedin. “Vulcan is here to support Stellantis, our largest lithium customer and one of our major shareholders, to de-carbonize its operations in Europe. While we remain focused on our Phase One geothermal-lithium developments in the center of the Upper Rhine Valley Brine Field, this project is a complementary opportunity to expand our future development pipeline to some of the outer lying areas in the Upper Rhine Valley, supported by industrial partners like Stellantis.”
AutoInformed on
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.