Rock Tech Lithium Starts Permitting Process for Europe's First Lithium Hydroxide Converter
VANCOUVER, BC, Feb. 22, 2022 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce that it has submitted the required documentation for the application for the first partial permit for the construction of its lithium hydroxide converter in Guben/Brandenburg. The partial permit submission was done in accordance with the Federal Immission Control Act (Bundes-Immissionsschutzgesetz - BImSchG), whereby the approval procedure is carried out in partial steps. This process enables careful planning while ensuring that the project progresses quickly.
The following steps are planned in close coordination with the State Office for the Environment (Landesamt für Umwelt), the authority conducting the procedure:
- The first partial application focuses on the approval of buildings, roads and other non-process infrastructure. Concurrently, the basic approvability of the project and its environmental compatibility will be examined.
- The second partial application, which the Company aims to submit in May, concerns all production facilities.
- The third, and final, partial application, which the Company aims to submit in July, will be for utilities and ancillary buildings.
Commenting on the start of the approval process, Markus Brügmann, Chief Executive Officer at Rock Tech Lithium, said: "The first partial application represents an important step for us from planning to implementation of our lithium hydroxide converter in Guben. We continue to look forward to the good and constructive cooperation with the State Office for the Environment and with the city of Guben."
Rock Tech Lithium plans to hold an information day in Guben in April/May to involve the local population in the project as early as possible. Once in full operation, the production plant for battery-grade lithium hydroxide (converter) is expected to produce 24,000 tonnes of lithium hydroxide annually for the batteries of 500,000 electric cars. Rock Tech's project is currently in an advanced planning stage. The company estimates the investment volume at approximately 470 million euros.
About Rock Tech Lithium Inc.
Rock Tech Lithium is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high quality lithium hydroxide "made in Germany". As early as 2024, the Company intends to commission Europe's first lithium converter with a nameplate 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.
The Company has set itself the goal of creating the world's first closed loop for lithium, thus closing the raw material gap on the road to clean mobility. Rock Tech owns the Georgia Lake Project in Ontario, Canada and, as early as 2030, around 50 percent of the raw materials used are expected to come from the recycling of batteries.
Rock Tech Lithium - The super fuel for the battery age
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 new release contains forward-looking information pertaining to: the features of the proposed Converter; statements regarding the Company's future plans, estimates, and schedules relating to the Converter project; anticipated production of LHM and related processing methods; the anticipated timing of a final investment decision, construction activities and potential in-service date of the Converter; the anticipated features of the Guben site and expected benefits thereof; demand for and pricing of LMH and the benefits therefrom; 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 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. 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, future commodity prices and exchange rates, 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. 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 results of the validation study, the Company's ability to access funding required to invest in available opportunities and projects (including the proposed Converter) and on satisfactory terms, the current and potential adverse impacts of the COVID-19 pandemic, including future outbreaks and any associated policies or restrictions on business, 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 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 the Converter, 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 "Financial Instruments and Other Risks" in Rock Tech's most recently filed Management Discussion and Analysis. 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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SOURCE Rock Tech Lithium Inc.
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