Rock Tech wins thyssenkrupp Materials Trading as potential supplier of raw materials and customer for its lithium hydroxide
Rock Tech wins thyssenkrupp Materials Trading as potential supplier of
raw materials and customer for its lithium hydroxide
VANCOUVER, BC
,
July 7, 2022
/CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("
Rock Tech
" or the
"
Company
") has entered into a non-binding Memorandum of Understanding (the "MOU") with materials distributor and service provider thyssenkrupp Materials
Trading GmbH ("
thyssenkrupp Materials Trading
") in relation to establishing a strategic partnership to supply lithium spodumene concentrate. Rock Tech plans
to refine the mineral from the end of 2024 at its proposed converter in Guben,
Germany
, into high-purity lithium hydroxide, a key element in batteries for electric
cars and plug-in hybrids.
The MOU between the two companies also includes a framework relating to the purchase of high-purity lithium hydroxide by thyssenkrupp Materials Trading for
the battery market, as well as other by-products resulting from the refining process. Thus, the potential partnership is expected to promote a more resilient supply
chain for lithium directly out of
Germany
, from raw material sourcing, to refining, to meeting demand of the automotive industry and growing electromobility
demands.
Markus Brügmann, Rock Tech's chief executive officer says: "With thyssenkrupp Materials Trading we have found al global logistics and trading partner that gives
us further security in the supply of spodumene. This is expected to give us a broader base for our input stream, which would take us a big step forward on the
road to success."
Wolfgang Schnittker
, chief executive officer of thyssenkrupp Materials Trading, says: "The potential partnership with Rock Tech underlines the systematic
expansion of our global trading activities in the international battery and electric vehicles industry. The trading of lithium products would add another very important
raw material to our supply portfolio for the production of long-life batteries."
Spodumene is one of the most important raw materials, amongst others, for the production of lithium-ion batteries in electric vehicles. For this purpose, the
spodumene mineral must be refined into lithium hydroxide, which can then be supplied to cathode manufacturers for the battery industry worldwide. Cathodes are
essential components of battery cells. The lithium spodumene concentrate will be used in Rock Tech's first converter in Guben,
Germany
, which is expected to
produce battery-grade lithium hydroxide from 2024.
ABOUT THYSSENKRUPP MATERIAL SERVICES
thyssenkrupp Materials Services
is the largest mill-independent materials distributor and service provider in the Western world, with around 380 locations -
including around 260 warehouse sites - in more than 30 countries. The extended range of services offered by the materials experts allows customers to focus
even more strongly on their individual core businesses. As part of its strategic development "Materials as a Service", the company is focusing on from high-quality
raw and basic materials to technical services and the development of intelligent processes in automation, extended supply chain, and warehouse and inventory
management. Digital solutions ensure efficient and resource-saving processes for customers and thus provide the basis for sustainable action. From 2030
Materials Services will operate on a climate-neutral basis.
ABOUT ROCK TECH LITHIUM INC.
Rock Tech Lithium Inc. is a cleantech company with operations in
Canada
and
Germany
that aims to supply the automotive industry with high-quality, "made in
Germany
" lithium hydroxide. As early as 2024, Rock Tech intends to commission
Europe's
first lithium converter with a production capacity of 24,000 tonnes per
year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
Rock Tech owns the Georgia Lake Project in
Ontario, Canada
. The Company has set itself the goal of creating a closed loop for lithium, thus closing the raw
material gap on the road to clean mobility. As early as 2030, around 50 percent of the raw materials used by Rock Tech are expected to come from the recycling
of batteries.
www.rocktechlithium.com
On behalf of the Board of Directors,
Dirk Harbecke
Chairman
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" and "forward-looking statements" (collectively, "forward-looking
information") within the meaning of applicable securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its
experience and is 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 regarding the MOU, including statements relating to the benefits
and outcomes therefrom; future actions taken by Rock Tech and thyssenkrupp Materials Trading, including with respect to establishing a strategic partnership
between the parties, the purchase and sale of spodumene and lithium hydroxide, respectively, and the expected benefits of future arrangements between the
parties; statements regarding Rock Tech's proposed lithium hydroxide converter, including its features and location; statements regarding Rock Tech's future
plans and expectations, including with respect to the Company's feedstock sourcing strategy and the impact of a strategic partnership with thyssenkrupp Materials
Trading thereon; anticipated production of lithium hydroxide and related processing methods and outputs; statements and expectations regarding the electric
vehicle industry; 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 contained in this press release is based on certain assumptions, estimates, expectations, analysis and opinions of the Company 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: the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and
final lithium products, expected growth, performance and business operations, future commodity prices and exchange rates, prospects, growth opportunities and
financing available to the Company, 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 the
Company's ability to access funding required to invest in available opportunities and projects (including the Company's proposed lithium hydroxide converters) 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 the Company's proposed
lithium hydroxide converters, 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 the Company's SEDAR profile at
www.sedar.com
, including those discussed under the heading "Risk Factors" in Rock Tech's most recently filed Management Discussion and Analysis and 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.
We cannot assure you 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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For further information:
Contact at Rock Tech Lithium, André Mandel, Mobile: +49 (0)151 2825 4014, E-Mail: [email protected], Facsimile: (604)
670-0033, 777 Hornby Street, Suite 600, Vancouver, B.C., V6Z 1S4; thyssenkrup Materials Services, Lars Bank, Tel: +49 (0) 201 844-534416, E-Mail:
CO: Rock Tech Lithium Inc.
CNW 02:00e 07-JUL-22