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PAU, France, December 17, 2024--(BUSINESS WIRE)--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 announced1 strategic technical decisions to produce lithium carbonate (LC), with an estimated production cost below €4,500/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.
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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