First Partial Permit Obtained for Rock Tech's Lithium Converter in Germany First partial license obtained for Rock Tech's lithium conversion plant in Guben, Germany ; Groundbreaking is planned for
First Partial Permit Obtained for Rock Tech's Lithium
Converter in Germany
First partial license obtained for Rock Tech's lithium conversion plant in Guben,
Germany
;
Groundbreaking is planned for
27 March 2023
;
Regional construction partner awarded first onsite works.
GUBEN,
GERMANY
,
March 8, 2023
/CNW/ -
Rock Tech Lithium Inc.
(TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN:
A1XF0V)
(the "Company" or "Rock Tech") has obtained the first partial license ("TG1") in accordance with the Federal Immission
Control Act (BImSchG) for its lithium hydroxide conversion plant in Guben,
Germany
(the "Guben Converter"). The official
groundbreaking is planned for
Monday, March 27
th
, 2023.
Rock Tech obtained first partial license for its lithium hydroxide conversion plant in Guben, Germany (CNW Group/Rock Tech Lithium
Inc.)
The Licensing Authority South of the Brandenburg State Office for the Environment issued the first partial permit to Rock Tech's
lithium conversion plant submitted in
February 2022
. The permit follows the project's Early Start Permissions received in
December
2022
and
January 2023
. It secures first works onsite, which were recently awarded to a regional construction company.
The permit received allows complete construction for all non-process buildings and site infrastructure and approves the general plant
layout and functions for the spodumene to lithium hydroxide conversion.
"It is a great day, and a remarkable milestone has been reached. We have already achieved an essential progress in securing
critical planning and pre-agreements for long lead items, and the basic engineering is done. The Bankable Project study completed
last year, and Front End Loading Study Level 3 is in its final stage and should be completed soon. We are strongly convinced that
this first partial license supports and accelerates further progress in the realization of this first of its kind project in
Europe
," said
Rock Tech's Chief Operating Officer
Klaus Schmitz
.
Rock Tech has already submitted all required permits. The Company submitted the second tranche ("Application for the 2
nd
Partial
License for the Construction of the Production Plant and Commissioning of the Entire Plant") in
November 2022
and is in close
contact with the local authorities and involved third party experts in order to get this permit approval secured in due time.
Rock Tech's lithium converter is estimated to cost
USD 683 million
1
and is a strategic investment to meet
Europe's
growing demand
for resilient supply of critical battery raw materials. It will allow the Company to process spodumene from any global source into
battery-grade lithium hydroxide. Therefore, the conversion plant will be an important contributor to in a European battery value
chain.
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.
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 constitutes "forward-looking information" (collectively, "forward-looking
information") within the meaning of applicable Canadian securities laws, which information is based on Rock Tech's current
expectations, estimates, and assumptions in light of its experience and 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,
including the design and features of the Guben Converter, as well as the expected costs, capital expenditures, timing and outcomes
thereof; statements regarding the Company's future plans, estimates, and schedules relating to the Guben Converter, including the
anticipated timing of future activities taken in support of the development thereof; Rock Tech's expectations regarding the FEL3
study including the related activities, findings and uses thereof; potential financing arrangements; the expected economic
performance of the Guben Converter and anticipated production of battery-grade lithium hydroxide and related processing methods
employed; the estimated capital and operating costs of the Guben Converter; the anticipated timing and outcomes of a final
investment decision, construction activities and commissioning of the Guben Converter; statements regarding the Company's
sustainability and ESG related goals and strategy, including the benefits and achievement thereof and future actions taken by the
Company in relation thereto; expected regulatory processes and final outcomes, including in relation to the timing of TG-1 and TG-2
approvals; 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 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 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
USD 683 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, and timing related to government approvals.
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, delays in government approval for the construction of the Guben Converter, 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.
It can not be guaranteed 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. This forward-looking information reflects Rock Tech
management's current views as at the date of this press release. 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.
_________________________________________________
1
as disclosed and explained on 04 Nov 2022 within the release "Rock Tech Lithium completes Bankable Project Study for its Guben Converter Project"
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For further information:
André Mandel, phone: +49 (0) 151 2825 4014; or email: [email protected], Rock Tech
Lithium Inc.; 777 Hornby Street, Suite 600, Vancouver, B.C., V6Z 1S4
CO: Rock Tech Lithium Inc.
CNW 01:00e 08-MAR-23