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Why the Vulcan Energy (ASX:VUL) share price is charging higher today

The Vulcan Energy Resources Ltd (ASX:VUL) share price is charging higher after appointing a former Tesla executive to its board…
The post Why the Vulcan Energy (ASX:VUL) share price is charging higher today appeared first on The Motley Fool Australia. –

Tesla shares

The Vulcan Energy Resources Ltd (ASX: VUL) share price is pushing higher on Thursday.

In morning trade, the clean lithium company’s shares are up 4% to $6.62.

This latest gain means the Vulcan Energy share price is now up 139% since the start of the year.

Why is the Vulcan Energy share price charging higher today?

Investors have been buying Vulcan Energy shares today after it announced a key new appointment to its board.

According to the release, the company has appointed former Tesla Head of Battery and Energy Supply Chain, Annie Liu, as a Non-Executive Director.

While at Tesla, Ms. Liu led and managed the multi-billion-dollar strategic partnerships and sourcing portfolios that support the electric vehicle (EV) giant’s Energy and Battery business units.

This includes Battery, Battery Raw Material, Energy Storage, Solar and Solar Glass, as well as raw materials sourcing efforts such as lithium for battery cells.

In addition to this, Ms. Liu is a co-founder of Alto Group Inc. It is a trusted advisor and counsellor to many of the world’s influential businesses in the EV value chain. The release notes that Alto Group also serves private and institutional investor clients in deal generation and due diligence with a focus on sustainable energy sectors.

Vulcan Energy’s Chairman, Gavin Rezos, commented: “Annie Liu has a deep knowledge and understanding of battery supply chains and the lithium marketplace. Her profound insights into OEM requirements will provide invaluable assistance to the Vulcan Board and Management.

Ms. Liu added: “Vulcan has a ready market on its doorstep with OEMs in close vicinity. I’m excited to help Vulcan with its premium product branding around Zero Carbon Lithium to meet the EU’s requirement for ethically sourced, sustainable battery metal supplies with a low carbon footprint.”

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why the Vulcan Energy (ASX:VUL) share price is charging higher today appeared first on The Motley Fool Australia.

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