Early start permission received for rock tech first lithium converter in Germany.
Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech”) has received permission for an early start to the construction of its lithium converter in Guben, Germany (the “Guben Converter”). The first significant work onsite for this strategic critical mineral project is expected within the upcoming next weeks.
From 2025, the Guben Converter is expected to produce around 24,000 tonnes of battery-grade lithium hydroxide. For this purpose, Rock Tech recently received approval from the responsible Brandenburg State Office for the Environment for an early start related to the first tranche of permits.
Rock Tech plans to start initial work on the project, with an estimated cost of USD 683 million1 , on its own property on the industrial park in Guben in the upcoming weeks.
Rock Tech applied for the first partial permit and approval for early start in February 2022. In the course of the application procedure, which involved public participation, no objections were received under approval regulations. Rock Tech considers this to be a positive indication of support for the construction of the Guben Converter and at the same time appreciates the efficient and transparent cooperation with the authorities.
Klaus Schmitz, Rock Tech’s Chief Operating Officer, said:
Our converter will be one of the first of its kind in Europe.
“The production of our battery-grade lithium hydroxide will be an essential part of the battery mineral supply chains in Europe – this is another reason why the approval by the authority is an important step towards implementation and sends a clear signal to the market.”
The approval for an early start is also an encouraging indicator that permission for construction of the Guben Converter will be granted in due course. In November, Rock Tech has submitted the second and final tranche of permit applications for this to the authority. Approval for construction of the Guben Converter is expected from summer 2023 onwards.
To date, more than 250,000 working hours and over USD 37 million2 have been directly invested by Rock Tech in the planning the design and construction of the Guben Converter. With the early start permission, necessary groundwork as well as the construction of roads, office and storage buildings can begin.
ABOUT ROCK TECH
Rock Tech is a cleantech company on a mission to produce lithium hydroxide for EV 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. 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 ESG standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its own mineral project in 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.
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.
Early Start Permission Received for Rock Tech’s first Lithium Converter in Germany, GUBEN, Germany, Jan. 12, 2023
