Vulcan Energy (ASX:VUL) acquires second German geothermal engineering company
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Vulcan Energy (VUL) is set to double the size of its technical team with the acquisition of German geothermal engineering company Global Engineering and Consulting
The acquisition comes at the cost of 325,000 fully paid ordinary shares in Vulcan, plus an earn-out up to 1.19 million euros (roughly A$1.84 million) linked to project development milestones
The acquisition follows Vulcan’s recent agreement to acquire sub-surface development company GeoThermal Engineering
With the acquisition of both companies, Vulcan says it will have an unparalleled surface and sub-surface geothermal development team to assist with its Zero Carbon Lithium strategy