VANCOUVER, BC, July 7, 2022
/CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB:
RJIB) (WKN: A1XF0V) ("Rock Tech" or the "Company")
has entered into a non-binding Memorandum of Understanding (the
"MOU") with materials distributor and service provider thyssenkrupp
Materials Trading GmbH ("thyssenkrupp Materials Trading") in
relation to establishing a strategic partnership to supply lithium
spodumene concentrate. Rock Tech plans to refine the mineral from
the end of 2024 at its proposed converter in Guben, Germany, into high-purity lithium hydroxide, a
key element in batteries for electric cars and plug-in hybrids.
The MOU between the two companies also includes a framework
relating to the purchase of high-purity lithium hydroxide by
thyssenkrupp Materials Trading for the battery market, as well as
other by-products resulting from the refining process. Thus, the
potential partnership is expected to promote a more resilient
supply chain for lithium directly out of Germany, from raw material sourcing, to
refining, to meeting demand of the automotive industry and growing
electromobility demands.
Markus Brügmann, Rock Tech's chief executive officer says: "With
thyssenkrupp Materials Trading we have found al global logistics
and trading partner that gives us further security in the supply of
spodumene. This is expected to give us a broader base for our input
stream, which would take us a big step forward on the road to
success."
Wolfgang Schnittker, chief
executive officer of thyssenkrupp Materials Trading, says: "The
potential partnership with Rock Tech underlines the systematic
expansion of our global trading activities in the international
battery and electric vehicles industry. The trading of lithium
products would add another very important raw material to our
supply portfolio for the production of long-life batteries."
Spodumene is one of the most important raw materials, amongst
others, for the production of lithium-ion batteries in electric
vehicles. For this purpose, the spodumene mineral must be refined
into lithium hydroxide, which can then be supplied to cathode
manufacturers for the battery industry worldwide. Cathodes are
essential components of battery cells. The lithium spodumene
concentrate will be used in Rock Tech's first converter in Guben,
Germany, which is expected to
produce battery-grade lithium hydroxide from 2024.
ABOUT THYSSENKRUPP MATERIAL
SERVICES
thyssenkrupp Materials Services is the largest
mill-independent materials distributor and service provider in the
Western world, with around 380 locations - including around 260
warehouse sites - in more than 30 countries. The extended range of
services offered by the materials experts allows customers to focus
even more strongly on their individual core businesses. As part of
its strategic development "Materials as a Service", the company is
focusing on from high-quality raw and basic materials to technical
services and the development of intelligent processes in
automation, extended supply chain, and warehouse and inventory
management. Digital solutions ensure efficient and resource-saving
processes for customers and thus provide the basis for sustainable
action. From 2030 Materials Services will operate on a
climate-neutral basis.
ABOUT ROCK TECH LITHIUM
INC.
Rock Tech Lithium Inc. is a cleantech company with operations in
Canada and Germany that aims to supply the automotive
industry with high-quality, "made in Germany" lithium hydroxide. As early as 2024,
Rock Tech intends to 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.
Rock Tech owns the Georgia Lake Project in Ontario, Canada. The Company has set itself
the goal of creating a closed loop for lithium, thus closing the
raw material gap on the road to clean mobility. As early as 2030,
around 50 percent of the raw materials used by Rock Tech are
expected to come from the recycling of batteries.
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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 press release.
Certain information set forth in this press release contains
"forward-looking information" and "forward-looking statements"
(collectively, "forward-looking information") within the meaning of
applicable securities laws, which are based on Rock Tech's current
expectations, estimates, and assumptions in light of its experience
and is perception of historical trends. All statements other than
statements of historical facts may constitute forward-looking
information. Often, 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 press release is expressly qualified in its entirety
by the cautionary statements referred to in this section.
In particular, this press release contains forward-looking
information pertaining to: expectations regarding the MOU,
including statements relating to the benefits and outcomes
therefrom; future actions taken by Rock Tech and thyssenkrupp
Materials Trading, including with respect to establishing a
strategic partnership between the parties, the purchase and sale of
spodumene and lithium hydroxide, respectively, and the expected
benefits of future arrangements between the parties; statements
regarding Rock Tech's proposed lithium hydroxide converter,
including its features and location; statements regarding Rock
Tech's future plans and expectations, including with respect to the
Company's feedstock sourcing strategy and the impact of a strategic
partnership with thyssenkrupp Materials Trading thereon;
anticipated production of lithium hydroxide and related processing
methods and outputs; statements and expectations regarding the
electric vehicle industry; Rock Tech's opinions, beliefs and
expectations regarding the Company's business strategy, development
and exploration opportunities and projects; and plans and
objectives of management for the Company's operations and
properties.
Forward-looking information contained in this press release is
based on certain assumptions, estimates, expectations, analysis and
opinions of the Company and in certain cases, third party experts,
that are believed by management of Rock Tech to be reasonable at
the time they were made. Such assumptions, estimates and other
factors include, among other things: the supply and demand for,
deliveries of, and the level and volatility of prices of, feedstock
and intermediate and final lithium products, expected growth,
performance and business operations, future commodity prices and
exchange rates, prospects, growth opportunities and financing
available to the Company, general business and economic conditions,
results of development and exploration, Rock Tech's ability to
procure supplies and other equipment necessary for its business.
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, estimates and factors 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 Company's ability to access funding required
to invest in available opportunities and projects (including the
Company's proposed lithium hydroxide converters) and on
satisfactory terms, the current and potential adverse impacts of
the COVID-19 pandemic and recent geopolitical hostilities; the risk
that Rock Tech will not be able to meet its financial obligations
as they fall due, changes in commodity and other prices, Rock
Tech's ability to attract and retain skilled staff and to secure
feedstock from third party suppliers, unanticipated events and
other difficulties related to construction, development and
operation of the Company's proposed lithium hydroxide converters,
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
described from time to time in Rock Tech's public disclosure
documents available on the Company's SEDAR profile at
www.sedar.com, including those discussed under the heading "Risk
Factors" in Rock Tech's most recently filed Management Discussion
and Analysis and Annual Information Form, respectively. 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.
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.
Given these uncertainties, readers are cautioned not to rely on
the forward-looking information set forth in this press
release.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/rock-tech-wins-thyssenkrupp-materials-trading-as-potential-supplier-of-raw-materials-and-customer-for-its-lithium-hydroxide-301582043.html
SOURCE Rock Tech Lithium Inc.