- Former Fortescue senior executive Felicity Gooding has been appointed CFO of Vulcan Energy
- Gooding is a long-time associate of FMG founder and chair Andrew Forrest
- It’s a timely appointment with VUL in the midst of securing financing for its Zero Carbon Lithium project in Germany
Special Report: Former Fortescue senior executive and long-time Andrew Forrest associate Felicity Gooding is joining Vulcan Energy to spearhead the company’s financing strategy for the phased development of the world’s first zero carbon lithium operation.
Vulcan Energy Resources (ASX: VUL) has today appointed Gooding as group chief financial officer, succeeding Robert Ierace who is stepping down as CFO Australia but will remain with the company until March to ensure a smooth transition.
Gooding brings more than two decades of experience in strategic and financial analysis, debt funding, corporate finance, M&A, financial accounting and governance via business based in Australia, Singapore, London and Washington DC.
This includes acting as joint project leader in obtaining expansion financing for Fortescue (ASX: FMG) totalling US$3.5bn.
She most recently served as CFO and global head of commercial at Fortescue Future Industries – FMG’s dedicated green hydrogen arm – where she led its finance division, including the specialist project financing team responsible for securing financing to enable financial investment decisions for green energy projects.
Gooding also has a long history working alongside FMG chair Forrest, having been Deputy CEO of the Minderoo Foundation and chief operating officer and CFO of both the Minderoo Foundation and Tatterang, the private family office and investment vehicle for Andrew and Nicola Forrest.
In recent years, Gooding has also served on the boards of junior explorers Poseidon Nickel (ASX: POS) and Impact Minerals (ASX: IPT), green and clean energy projects developer Zhero BV and the Freedom Fund.
An opportune appointment for a world-first project
Gooding joins VUL with Phase One financing for the company’s Zero Carbon Lithium project in Germany well under way.
VUL managing director and CEO Cris Moreno said Gooding’s appointment was “opportune” given the current stage of project development.
“We are delighted with the appointment of Ms Gooding and believe her extensive global CFO experience will be important in Vulcan’s next stage of commercial growth,” Moreno said.
“Ms Gooding has worked across capital markets, debt and equity structures and brings a wealth of knowledge in financing of major projects.”
VUL’s flagship geothermal project is home to Europe’s largest lithium resource (27.7MT contained lithium carbon equivalent at 175 mg/L) and is set to produce renewable heat and power, as well as enough lithium hydroxide for ~500,0000 battery electric vehicles each year in Germany’s Upper Rhine Valley.
Phase One development is targeting 24,000tpa of lithium hydroxide production via an environmentally friendly Direct Extraction Method which uses the project’s own geothermal brine to extract the lithium.
It is set to be the first project of its kind anywhere in the world.
Last month, the company completed a positive Environmental and Social Impact Assessment (ESIA) which it said opens the project to potential ‘green’ financing options.
This article was developed in collaboration with Vulcan Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.