- Rock Tech broke ground for its European first-of-kind
lithium conversion plant in Germany, enabling an entire battery value
chain in the region.
- Mercedes-Benz as strategic partner to procure lithium
hydroxide from Guben Converter for its state-of-the art battery
production in Europe.
- The start of commissioning and ramp-up for the lithium
converter is expected in 2025 and battery-grade lithium hydroxide
production in early 2026.
- The Guben Converter is the first of five converters that
Rock Tech intends to build in Europe and North
America.
GUBEN, Germany, March 27,
2023 /CNW/ - Rock Tech Lithium Inc. (TSXV:
RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock Tech") is
excited to have broken ground for its first lithium hydroxide
conversion plant in Guben, Germany
(the "Guben Converter"). The facility will be the first of its kind
in Europe and a blueprint for the
EU's new strategic goals to secure 12 times the demand of lithium
by 2030 and at the same time to process 40% of it
regionally.
At the groundbreaking ceremony on Monday, the Premier of the
State of Brandenburg Dr. Dietmar
Woidke stated, "I am very pleased that we have attracted
Rock Tech, a visionary cleantech company, which brings us closer to
our goal of becoming a hub of modern industry, sustainable
mobility, and high technology. With this groundbreaking,
Brandenburg is taking another important step towards becoming a
highly prosperous and climate neutral growth cluster."
"Rock Tech's lithium plant in Guben will considerably strengthen
Brandenburg's position as the centre of electromobility and energy
transition in Germany. Brandenburg
will thus be able to cover the entire value chain from raw material
processing to battery and cell production to EV construction and
battery recycling," the State Minister for Economic Affairs, Prof.
Dr. Jörg Steinbach added.
Rock Tech's refining plant is considered the most advanced
lithium converter project in Europe and will, in one facility, process
lithium-bearing hard rock into battery-grade lithium hydroxide for
the cathode and battery industry. This is a significant accelerator
for the EV mobility transition and fundamental building block for
automakers in the region.
"For Mercedes-Benz, the shift towards electric mobility also
means a change in our supply chains. Three goals are central to us:
Sustainability, raw material security and localization of
procurement. Today's groundbreaking in Guben is therefore another
milestone for Mercedes-Benz towards the sustainable production of
state-of-the-art batteries. When it comes to our lithium supply
here in Europe, Rock Tech will
play a key role for Mercedes-Benz in the future," said Markus
Schäfer, Member of the Board of Management of Mercedes-Benz Group
AG. Chief Technology Officer, Development & Procurement.
"Our Guben Converter is spearheading the lithium refining
industry in Europe. We focus on
zero-waste, sustainable processing and strategic partnerships. As a
Canadian-German company we are building bridges and opportunities
across the Atlantic and further to Australia, the world largest global lithium
spodumene producer," Rock Tech's chief executive, Dirk Harbecke, said.
The groundbreaking marked the official start of onsite works on
the 125,750 square metres future lithium hydroxide converter. Rock
Tech has recently been awarded the first partial permit according
to the Federal Immission Control Act and is on schedule to progress
with test piling and ground preparation. The Guben Converter shall
start commissioning in mid-2025 and will produce qualified
battery-grade lithium hydroxide in 2026. The Guben Converter is the
first of five converters that the Canadian-German Company intends
to build in Europe and
North America.
ABOUT ROCK TECH
Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium
hydroxide for electric vehicle batteries. The Company plans to
build lithium converters at the door-step of its customers, to
guarantee supply-chain transparency and just-in-time delivery,
beginning with the Company's proposed lithium hydroxide merchant
converter and refinery facility in Guben, Germany. To close the most pressing gap in the
clean mobility story, Rock Tech has gathered one of the strongest
teams in the industry. The Company has adopted strict
environmental, social and governance standards and is developing a
proprietary refining process aimed at further increasing efficiency
and sustainability. Rock Tech plans to source raw material from its
wholly-owned Georgia Lake spodumene project located in the Thunder
Bay Mining District of Ontario,
Canada, as well as procuring it from other responsibly
producing mines. In the years to come, the Company expects to also
source raw material from discarded batteries. Rock Tech's goal: to
create a closed-loop lithium production system.
www.rocktechlithium.com
Photo and rendering material, as well as the release of the
Brandenburg Government can be found here:
https://bit.ly/GroundbreakingGuben
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" within
the meaning of applicable Canadian securities laws, which are based
on Rock Tech's current expectations, estimates, and assumptions in
light of its experience and its 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 concerning the Guben
Converter, statements regarding the Company's future plans,
estimates, and schedules relating to the Guben Converter, the
expected construction activities and commissioning of the Guben
Converter; economic performance of the Guben Converter and
anticipated production of battery-grade lithium hydroxide and
related processing methods employed; expectations regarding the
electric vehicle industry, including the demand for and pricing of
battery-grade lithium hydroxide and the benefits therefrom, and the
development of political and regulatory frameworks especially in
Germany and the European Union;
Rock Tech's opinions, beliefs and expectations regarding its
business strategy, development and exploration opportunities and
projects; and plans and objectives of management for Rock Tech's
operations and properties.
Forward-looking information contained in this press release is
based on certain assumptions, estimates, expectations, analysis and
opinions of Rock Tech 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: expected growth, performance
and business operations, future commodity prices and exchange
rates, prospects, growth opportunities and financing available to
Rock Tech, 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 Rock Tech's ability to access funding required
to invest in available opportunities and projects 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 Rock Tech's proposed lithium converter(s) and other
projects, 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 Rock Tech's SEDAR profile at
www.sedar.com, including those discussed under the heading "Risk
Factors" in Rock Tech's annual and most recently filed interim
Management Discussion and Analysis and its 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.
Rock Tech cannot assure readers 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.
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SOURCE Rock Tech Lithium Inc.