Rock Tech selects Worley as its EPCM Partner for Guben Lithium Converter Next important milestone reached after receiving the final building permits and funding of 100 million EUR . Worley is a global professional services company of energy, chemicals and resources experts headquartered in
Rock Tech selects Worley as its EPCM Partner for Guben
Lithium Converter
Next important milestone reached after receiving the final building permits and funding of
100 million EUR
.
Worley is a global professional services company of energy, chemicals and resources experts headquartered in
Australia
.
Comprehensive selection process coordinated by Accenture.
TORONTO
,
July 15, 2024
/CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock
Tech" or the "Company") is pleased to announce that it has selected leading global professional services company Worley Limited
("Worley") as its preferred engineering, procurement, and construction management (EPCM) partner for the construction of
Europe's
first lithium converter. The partnership will pave the way for the rapid and efficient implementation of the project. Worley specializes in
engineering, construction and implementation of complex industrial plants and, with 50,000 employees worldwide, has completed more
than 1,000 projects in the chemical and resources industries across all continents. These include projects in the major chemical
clusters in eastern and south-western
Germany
. The team is also one of few experts with experience in the implementation of lithium
projects.
To date, lithium converters have mainly been in operation in
China
and
Australia
. With a capacity of 24,000 tons of lithium hydroxide
per year, the plant in Guben, Brandenburg, is an important building block for a resilient European battery value chain. By 2030, 50% of
the material used will come from recycled batteries. The investment costs amount to around
800 million euros
. The state and federal
governments have awarded funding of
100 million euros
to ensure a level playing field in international competition.
Kerstin Wedemann
, Chief Legal & Operations Officer, comments
: "We are excited to develop our relationship with Worley and
we are confident that together we will achieve success for our Project. Worley has a pedigree as a world class global project delivery
partner. They provide full services until commercial operation. The international team will be supported by Worley's
Germany
office,
taking care of the specific needs at a German site."
Rock Tech plans to start project execution of the converter this year once the financing has been completed. The project received full
permit approvals of the Brandenburg State Environmental Agency in
May 2024
and has completed comprehensive basic engineering
(FEL3 study). The technical specification for construction and commissioning has been completed, and planning for ramp-up and
operation of the future converter has started.
The EPCM selection process, coordinated by Accenture, took over six months to complete. Worley was selected against several
competitors. Key criteria in the selection process included previous track record in complex projects, technical expertise and
experience in implementing projects in
Germany
.
ABOUT ROCK TECH
Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100%
recycling rate. To ensure resilient supply chains, the company plans to build lithium converters at the doorstep of its customers,
beginning with the Company's proposed Lithium Hydroxide Converter in Guben, Brandenburg,
Germany
. The second Converter is
planned to be built in
Red Rock, Ontario, Canada
. Rock Tech Lithium plans to source raw material from its own
Georgia Lake
spodumene project in the Thunder Bay Mining District of
Ontario, Canada
, and procure from other ESG-compliant mines. Ultimately,
Rock Tech's goal is to create a closed-loop lithium production system. Rock Tech has gathered one of the strongest teams in the
industry to close the most pressing gap in the clean mobility story. The Company has adopted strict environmental, social and
governance standards and is developing a proprietary refining process to increase efficiency and sustainability further.
ABOUT WORLEY
Worley is a global professional services company of energy, chemicals and resources experts. Worley partners with customers to
deliver projects and create value over the life of their assets. We are bridging two worlds, moving towards more sustainable energy
sources, while helping to provide the energy, chemicals and resources needed now. Worley Limited is headquartered in
Australia
and
listed on the Australian Securities Exchange (ASX: WOR).
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
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, which address events, results, outcomes or developments that the Company
expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans",
"predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative
versions thereof and other similar expressions are intended to identify forward-looking statements. 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 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 outcome of a final investment decision;
unexpected results from the FEL3 study of the EPCM contract, the final evaluation and selection process of Worley; the timing for
completion and expected outcomes of the EPCM contract, including theconstruction 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;
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 statements by their
nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual
results to differ materially from the forward-looking statements, including the risks, uncertainties and other factors discussed in the
Company's most recent management's discussion and analysis and annual information form filed with the applicable securities
regulators. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur,
and the Company cautions the reader not to place undue reliance upon any such forward-looking statements. The Company does not
intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of new
information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.
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For further information:
For further information: Rock Tech Lithium Inc, 2400-333 Bay Street, Toronto ON M5H 2T6, CAN.
Konstantin Burger, VP Investor Relations: [email protected] +49 89 244109149
CO: Rock Tech Lithium Inc.
CNW 06:00e 15-JUL-24