Batteries made with zero-emission lithium from geothermal plants in Germany could power one million vehicles per year by the mid-2020s, according to Vulcan Energy, a company setting out to produce climate neutral lithium in Europe. The use of geothermal energy – the ambient heat below the ground – dates back to Roman times. But thanks to modern technology, geothermal power plants can now also extract lithium from beneath the ground, a process also being explored in the UK. Lithium prices are currently skyrocketing, driven by booming demand for electric vehicles. In China, prices of lithium carbonate, a key component in rechargeable batteries, are up 276% since the start of the year.
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