Arverne Group Announces a Framework Agreement between Lithium de France and Tenaris to Acquire Tubular Components, for Its Geothermal Heat and Lithium Project in Alsace
PAU, France--(BUSINESS WIRE)--December 17, 2024--
Regulatory News:
Arverne Group (FR001400JWR8 - ARVEN), a French industrial company specialized in the production of renewable energy from underground resources to support the energy transition, announces that its subsidiary Lithium de France has signed a framework agreement for the acquisition of casing and tubing from Tenaris, leading manufacturer of tubular goods for the world's energy industries.
Lithium de France has already placed an order for tubular components for the first well of its geothermal heat and lithium project. The equipment will be manufactured in Italy by Tenaris before being delivered to Alsace.
This agreement is another milestone in the preparation of the drilling campaign, to reach the production of 27,000 t/year of lithium $(LC)$ in 2031. With the successful completion of the pre-feasibility study $(PFS)$, Arverne Group has announced(1) strategic technical decisions to produce lithium carbonate (LC), with an estimated production cost below EUR4,500/t, placing the project in the first quartile of the cost curve in terms of cash cost. Arverne Group confirms the launch of the definitive feasibility study $(DFS)$ at the beginning of 2025.
Next publication: March 26, 2025, FY 2024 results (after Paris stock market
closing time)
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About Arverne Group
Arverne Group specializes in harnessing underground resources to transform them into environmentally friendly, local and renewable energy, contributing to the prosperity of local communities. As an integrated industrial player, Arverne Group spans the entire underground value chain, from exploration to drilling and production to sales to end-users. Arverne Group aims to become the French leader in geothermal energy and its by-products, including low-carbon geothermal lithium. Founded in Pau in 2018, Arverne Group has structured its business activities around several subsidiaries, notably 2gré (sale of geothermal heat), Lithium de France (geothermal heat and extraction and sale of geothermal lithium) and Arverne Drilling Services (drilling operations). A mission-driven company, Arverne Group is listed on Euronext Paris and is part of the Tech Leaders segment of Euronext Paris (ISIN FR001400JWR8, ARVEN).
www.arverne.earth
About Lithium de France
Lithium de France is the first independent French operator of geothermal heat and lithium. Founded in 2020 as part of Arverne Group, its mission is to accelerate the energy transition by supplying heat to businesses, farmers, and local authorities, and by producing lithium for electric mobility. It is a pioneer in this new innovative and environmentally friendly French industry. Its headquarters are in Haguenau, Northern Alsace.
www.lithiumdefrance.com
About Tenaris
Tenaris is a leading global manufacturer and supplier of steel pipes and services for the global energy industry and other industrial applications. It also supplies pipes and tubular components for low carbon content applications, such as pipes for geothermal wells, cylinders for hydrogen storage and refueling stations, line pipes for carbon dioxide transport and, structural pipes for wind farms. The company accounts for around 29,000 employees in more than 30 countries and 5 production sites in Italy. With the goal of reducing CO(2) emissions per ton of product by 30% by 2030, Tenaris uses renewable energy sources, enhances the circular economy, and implements responsible management practices for water resources, thanks to constant research and the adoption of the best available technologies.
www.tenaris.com
(1) First half results 2024 press release
View source version on businesswire.com: https://www.businesswire.com/news/home/20241217968062/en/
CONTACT: Media Relations:
communication@arverne.earth
arvernegroup@image7.fr
Investor Relations:
investor.relations@arverne.earth
alexandre.commerot@seitosei-actifin.com
(END) Dow Jones Newswires
December 17, 2024 12:00 ET (17:00 GMT)
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