The Vulcan Energy Resources Ltd (ASX: VUL) share price was on fire today, finishing the session up 9.74% at $9.80.
The surge in Vulcan's share price comes after the company released its quarterly activities report just after 1pm today.
Let's take a closer look at what the report entails.
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A bit more on Vulcan Energy
Vulcan Energy has interests in the exploration and development of copper-zinc and lithium supply solutions to the European market.
The company's principal interest is in Norway, although it acquired the Vulcan Lithium Project, which is located in Germany.
As a result, it claims to be the "EU's largest lithium resource". Vulcan has a market capitalisation of $971 million at the time of writing.
Vulcan's quarterly results
This quarter, Vulcan signed a "binding lithium offtake agreement" with LG Energy Solution to supply "10,000 metric tonnes per year of lithium hydroxide" into the coming periods.
It also commissioned a direct lithium extraction (DLE) plant through its "in-house engineering team".
The DLE plant is now "successfully operating with (more than) >90% recoveries", demonstrating lithium extraction from geothermal brine.
In addition, it also finalised the spinoff and initial public offering (IPO) of its "Scandinavian battery metals projects" into a new entity known as Kuniko Limited.
It raised $7.89 million via the offering, and established Kuniko as a standalone "zero carbon copper, nickel, and cobalt company".
Moreover, a new exploration licence granted in the Upper Rhine Valley, for after "(the) June 2021 quarter", came through this quarter also.
Additional takeouts from the report
Vulcan also reported a number of sustainability and governance advancements in the report.
To illustrate, it signed a binding agreement to acquire 100% of Global Engineering and Consulting GmbH, which is a "geothermal surface consultancy company".
Additionally, the company was also admitted to the "Global Battery Alliance", a consortium of 70 members "working towards a sustainable battery value chain globally".
Vulcan was also certified as "carbon neutral" by Climate Active for Australian operations. This aligns with the company's goal of becoming "the world's first zero carbon lithium project".
Vulcan Energy share price snapshot
The Vulcan Energy share price has produced outsized returns over the year to date, posting a return of 256% since January 1.
This extends the previous 12 month's mammoth return of 1,992%. That sees Vulcan sit at the tip of the spear with respect to the constituent of ASX-listed securities.
These returns have far outpaced the S&P / ASX 200 Index (ASX: XJO)'s return of 23% over the past year.
Vulcan shares have posted a return of 27% over the previous month alone.
