Toronto, May 7, 2024 /CNW/ – Rock Tech Lithium Inc (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) has issued an update on its outstanding German grant applications. Subsidy applications will move to the state level. Rock Tech receives no funding from the federal government’s TCTF grant program. Instead, negotiations are continuing to finalize a loan program with the state of Brandenburg.
The Federal Ministry for Economic Affairs and Climate Change (BMWK) has awarded Rock Tech Lithium a grant for its planned lithium smelter in Brandenburg under the “Resilience and Sustainability of the Battery Cell Production Ecosystem” (TCTF) program. It was announced that the funds would not be provided. The reason is federal budget constraints. At the same time, the state of Brandenburg has pledged its full support and is keen to consider how the Guben factory can be financially supported at state level. Applications for additional federal funding, including government guarantees, are still being accepted. Rock Tech regrets the federal department’s decision and is considering all available options going forward. The priority is to realize the factory with the support of the state of Brandenburg. What is unique about this project is that Germany In terms of size, project maturity and strategic importance.
Dirk HarbeckeComments from CEO and Chairman: ‘The length of the TCTF application process and the resulting lack of clarity has caused frustration among many stakeholders. We believe that the continuation of subsidy negotiations at the state level is likely to accelerate so that final investment decisions can be made as soon as possible. Of course, we feel a bond to Brandenburg, and in particular to the city of Guben, and we want to build our first lithium converter here. The company is an important component of a battery cluster being developed in the state of Brandenburg. President Wojdke, Minister of Economy Steinbach and Mayor Makhro of Guben have been in partnership since the beginning and have given us intensive support. Thank you very much.But at the same time, the international market, especially North America Gulf countries are highly competitive when it comes to attracting future technologies. ”
Rock Tech Lithium has achieved significant project maturity with Guben.
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Mercedes Benz AG (‘MBAG’) is a major customer of Rock Tech. The two companies have entered into a binding purchase agreement to supply 10,000 tonnes of battery-grade lithium hydroxide per year starting in 2023.
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The supply of raw materials for converters is also secured. The company recently announced a binding raw material supply agreement with C&D Logistics, one of the world’s leading lithium traders. Until now, C&D has focused on supplying the Chinese market. The contract will also provide C&D logistics. Europe Made with ESG-compliant spodumene concentrate Australia, Brazil And Africa. Rock Tech plans to use up to 50% recycled materials at its Guben plant from 2030 onwards.
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Refinery planning and basic engineering has been completed with significant upfront investment. 40 million euros. Final approvals for construction and operation of the converter are on the horizon, and a construction partner has been secured.
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The by-product utilization concept was developed in cooperation with the partners ITEL (Institute of Lithium, University of Halle), GP Günter Papenburg AG, Schwenk Zement GmbH & Co. KG and Knauf Gips KG. The aim is, inter alia, to use aluminosilicates obtained from lithium processing in a resource-efficient manner in the building materials industry.
Kerstin WedemannThe Chief Legal and Operations Officer added: “With the final permit received in May, Rocktech will have the latest lithium converter blueprint in 2013.” Europe In his hands. A German permit to build and operate such a plant would be of great value. Few other countries apply such strict guidelines regarding technology and emissions approvals. This means our concept can be validated and transferred to other markets.This is already happening on our site Canadawhere we want to build in ontario The first lithium converter.We have already secured our first partnership Ontario, an approval plan has been initiated and a grant application is underway there. ”
About Rocktech
Rock Tech is a cleantech company with operations in the following regions: Canada and Germany Its mission is to produce lithium hydroxide for electric vehicle batteries. We plan to build lithium converters close to our customers to ensure supply chain transparency and just-in-time delivery, starting with our proposed lithium hydroxide commercial converter and purification facility in Guben. Germany. A second lithium converter will be included red rock, ontario, canada. Rock Tech plans to source its feedstock from its wholly-owned Lake Georgia pyroxene project in Australia’s Thunder Bay field. ontario, canada, we also source from other mines that produce responsibly. In the coming years, we will also source raw materials from discarded batteries. To fill the most pressing gap in the clean mobility story, Rock Tech has assembled one of the most powerful teams in the industry. We have adopted stringent environmental, social and governance standards and have developed proprietary refining processes aimed at further increasing efficiency and sustainability. Rock Tech’s goal is to create a closed-loop lithium production system.
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Certain statements contained in this news release constitute “forward-looking information” under applicable securities laws and are referred to herein as “forward-looking statements.” All statements, other than statements of historical fact, that concern events, results, results or developments that the Company expects to occur are forward-looking statements. As used in this news release: “expects”, “anticipates”, “plans”, “anticipates”, “believes”, “estimates”, “intends”, “goals”, “project”, “predicts” , “may,” “will,” “should,” “will,” “could,” or the negative thereof, as well as other similar expressions, refer to forward-looking statements. The purpose is to identify the description.
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