- Planned investment sum 470 million
euros, expected production start in 2024
- Central component of the European battery value chain
secures the lithium requirements of around 500,000 electric
vehicles per year
- Brandenburg's Economics Minister Steinbach: "With Rock Tech
Lithium, we are strengthening our position as the future center of
European e-mobility."
GUBEN, Germany, Oct. 10, 2021 /CNW/ - Rock Tech Lithium Inc., a
cleantech company with offices in Canada and Germany, is planning to build Europe's first lithium converter - a
production plant for battery-grade lithium hydroxide - in Guben,
Brandenburg.
The company intends to locate all production steps of lithium
refining in one overall plant at the Guben site. The investment
decision for all production steps still depends, among other
things, on ongoing discussions regarding subsidies already applied
for or still to be applied for. With its long industrial tradition
and existing infrastructure, the region offers the best conditions
for becoming a central component of the battery value chain and
thus part of Brandenburg's e-mobility cluster. The planned total
investment volume at the Guben site for all factory units is up to
470 million euros. With the entire
plant in operation, around 160 technicians, engineers and
production staff would be employed on site. Together, they
would produce around 24,000 metric tons of lithium hydroxide per
year. This would correspond to the volume needed to equip around
500,000 electric cars with lithium-ion batteries.
With the acquisition of the site in the Guben South industrial
park, Rock Tech Lithium is now creating the basis for the planned
converter construction. The site, which covers a total of around
twelve hectares, offers extensive space for the construction of
facilities for all individual production steps in lithium refining.
The already good traffic connection will be further optimized by a
possible rail connection. Rock Tech Lithium will seek a close
exchange with authorities, experts and local stakeholders for the
planning and approval process. The converter is scheduled to start
operations in 2024. Locally sourced renewable energy is to be used
for production. In order to acquire the site, Rock Tech will make a
cash payment to the property owners totalling 1,130,877€ no later
than six (6) months from the date of the agreement. The property
owners are at arm's length to Rock Tech.
Dirk Harbecke, Chief Executive
Officer of Rock Tech Lithium, explains, "We are becoming the
lithium partner of the automotive industry and are building our
own, previously non-existent infrastructure for battery-grade
lithium hydroxide in Europe. Our goal is to be the first
company worldwide to create a closed loop for lithium. Guben seems
to us to be the ideal location for this, with subsidies also
playing a significant role." By 2030, the cleantech company plans
to obtain around 50 percent of the raw materials it uses from
recycling spent batteries.
The EU Commission estimates that European lithium demand for
e-car batteries alone will increase 18-fold by 2030 and as much as
60-fold by 2050. A sustainable and resilient raw material supply is
thus becoming a strategically decisive factor for the automotive
industry.
"With Rock Tech Lithium, we are strengthening our position as
the future center of European e-mobility. Brandenburg will be home
to the entire value chain in the future. From raw material
processing to battery and cell production to e-car construction as
well as battery recycling. In this way, we are once again clearly
demonstrating our own claim that Brandenburg is a state of
innovation. I am all the more pleased that Rock Tech Lithium has
chosen Guben as an industrial location in the energy region of
Lusatia. This is an important sign for the people of the region.
The Lusatia structural process has begun and is showing its first
positive results. Lusatia is and will remain an important energy
region in Germany," explains
Jörg Steinbach, Minister for
Economic Affairs, Labor and Energy of the State of
Brandenburg.
The decision in favor of Guben was preceded by a Europe-wide site search. In the end, the city
of Guben came out on top due to its excellent conditions.
Guben's mayor Fred Mahro is also pleased about the decision
and explains: "The fact that we have found an investor so quickly
for the recently decided expansion of our industrial area shows the
great potential of our European city. The economic development
agencies of the state, the district and the city have cooperated
optimally and won a strong partner for Guben and our region with
Rock Tech Lithium."
Harald Altekrüger, District Administrator of the Spree-Neiße
District, adds: "The fact that Rock Tech Lithium has chosen our
district is proof of our good work. In recent years, we have
created structures that offer innovative companies good investment
opportunities. We will continue to accompany the settlement and
further development of Rock Tech Lithium with
commitment."
About Rock Tech Lithium Inc.
Rock Tech Lithium is a cleantech company with operations in
Canada and Germany that will supply the automotive
industry with high quality lithium hydroxide "made in Germany". As early as 2024, the company will
commission Europe's first lithium
converter with a production capacity of 24,000 tonnes per year.
This is equivalent to the volume needed to equip around 500,000
electric cars with lithium-ion batteries.
The cleantech company has set itself the goal of creating the
world's first closed loop for lithium, thus closing the raw
material gap on the road to clean mobility. Rock Tech owns the
Georgia Lake lithium project in Ontario,
Canada and, as early as 2030, around 50 percent of the raw
materials used are expected to come from the recycling of
batteries.
Rock Tech Lithium is listed on the TSX Venture and Frankfurt stock exchanges. The company is led
by Dirk Harbecke, Chairman &
CEO, Stefan Krause, Chief Financial
Officer, and Don Stevens, Chief
Technology Officer and Esther Bahne
as Chief Strategy & Marketing Officer.
Rock Tech Lithium - The fuel for the battery age
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman and Chief Executive Officer
Cautionary Note Concerning Forward-Looking
Information
The following cautionary statements are in addition to all other
cautionary statements and disclaimers contained elsewhere in, or
referenced by, this news release.
Certain information set forth in this news release contains
"forward-looking information" within the meaning of applicable
Canadian securities laws. All statements other than statements of
historical facts included in this news release, including those
regarding Rock Tech's opinions, beliefs and expectations, business
strategy, development and exploration opportunities and projects,
mineral resource estimates, drilling and modeling plans, and plans
and objectives of management for operations and properties
constitute forward-looking information. Generally, forward-looking
information can be identified by the use of words or phrases such
as "estimate", "project", "anticipate", "expect", "intend",
"believe", "hope", "may" and similar expressions, as well as
"will", "shall" and all other indications of future tense. All
forward-looking information set forth in this news release are
expressly qualified in their entirety by the cautionary statements
referred to in this section.
Forward-looking information is based on certain estimates,
expectations, analysis and opinions that are believed by management
of Rock Tech to be reasonable at the time they were made or in
certain cases, on third party expert opinions. It should be noted
that, in order to proceed with the planned investment of 470€
million contained herein, Rock Tech will be required to raise
additional funding and the availability of financing on
satisfactory terms is not guaranteed. This forward-looking
information was derived utilizing numerous assumptions regarding,
among other things, the supply and demand for, deliveries of, and
the level and volatility of prices of, intermediate and final
lithium products, expected growth, performance and business
operation, prospects and opportunities, general business and
economic conditions, results of development and exploration, Rock
Tech's ability to procure supplies and other equipment necessary
for its business, including development and exploration activities.
The foregoing list is not exhaustive of all assumptions which may
have been used in developing the forward-looking information. While
Rock Tech considers these assumptions to be reasonable based on
information currently available, they may prove to be incorrect.
Forward-looking information should not be read as a guarantee of
future performance or results.
In addition, forward-looking information involves known and
unknown risks and uncertainties and other factors, many of which
are beyond Rock Tech's control, that may cause Rock Tech's actual
events, results, performance and/or achievements to be materially
different from that which is expressed or implied by such
forward-looking information. Risks and uncertainties that may
cause actual events, results, performance and/or achievements to
vary materially include the risk that Rock Tech will not be able to
meet its financial obligations as they fall due, changes in
commodity prices, Rock Tech's ability to retain and attract skilled
staff and to secure feedstock from third party suppliers,
unanticipated events and other difficulties related to
construction, development and operation of converters and mines,
the cost of compliance with current and future environmental and
other laws and regulations, title defects, competition from
existing and new competitors, changes in currency exchange rates
and market prices of Rock Tech's securities, Rock Tech's history of
losses, impacts of climate change and other risks and uncertainties
discussed under the heading "Financial Instruments and Other Risks"
in Rock Tech's most recently filed Management Discussion and
Analysis, a copy of which is filed electronically through SEDAR and
is available online at www.sedar.com. Such risks and uncertainties
do not represent an exhaustive list of all risk factors that could
cause actual events, results, performance and/or achievements to
vary materially from the forward-looking information.
We cannot assure you that actual events, results, performance
and/or achievements will be consistent with the forward-looking
information and management's assumptions may prove to be incorrect.
Our forward-looking information reflects Rock Tech management's
views as at the date the information is created. Except as may be
required by law, Rock Tech undertakes no obligation and expressly
disclaims any responsibility, obligation or undertaking to update
or to revise any forward-looking information, whether as a result
of new information, future events or otherwise, to reflect any
change in Rock Tech's expectations or any change in events,
conditions or circumstances on which any such information is
based.
The forward-looking information contained herein is presented
for the purposes of assisting readers in understanding Rock Tech's
plans, objectives and goals and is not appropriate for any other
purposes.
Given these uncertainties, readers are cautioned not to rely on
the forward-looking information set forth in this news release.
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SOURCE Rock Tech Lithium Inc.