Stellantis Joins Hand With Vulcan To Develop Geothermal Renewable Energy In France
Portfolio Pulse from Shivani Kumaresan
Stellantis NV and Vulcan Energy Resources have signed a binding term sheet to develop geothermal projects for Stellantis' Mulhouse industrial site in France. The project aims to provide a significant portion of the site's annual energy needs starting in 2026 and represents the first joint project in France for the potential use of geothermal energy to decarbonize and localize the energy supply for Stellantis' European operations.
May 31, 2023 | 4:08 pm
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Stellantis partners with Vulcan Energy Resources to develop geothermal projects for its Mulhouse industrial site in France, aiming to decarbonize and localize the energy supply for its European operations.
The partnership with Vulcan Energy Resources will help Stellantis to develop geothermal projects for its Mulhouse industrial site, providing a significant portion of the site's annual energy needs starting in 2026. This will help the company to decarbonize and localize the energy supply for its European operations, which is likely to have a positive impact on its stock price in the short term.
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