- German energy corporation LEAG and Rock Tech signed Letter of Intent
- LEAG could deliver Rock Tech’s Guben Converter with carbon-neutral power and heat
- Converter could get hydrogen from LEAG’s “Gigawatt Factory” with developing an electrolyser
- extended collaboration in attracting qualified talented and waste management options
GUBEN, Germany, Aug. 1, 2023 /CNW/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the “Company” or “Rock Tech”) through its subsidiary Rock Tech Guben GmbH and the German energy corporation LEAG have signed a Letter of Intent (LoI) to collaborate. LEAG could deliver carbon-neutral power supplied by wind and photovoltaics, which could be available around the clock thanks to a smart combination of storage facilities and LEAG’s “Gigawatt Factory” hydrogen production plant. This would enable Rock Tech to pass another step toward its goal of achieving climate neutrality in production.
Green, renewable energies are a driving force in the structural transformation of Brandenburg and give organizations operating in the region a clear competitive advantage. Rock Tech also hopes to make a substantial contribution to the battery and EV industries by 2026 by refining lithium hydroxide in the Company’s planned Guben Converter.
Both Rock Tech and LEAG want their planned collaboration to be the beginning of a long-term, mutually beneficial relationship between the two organizations. Aside from green electricity and heat supply, the LoI extends to collaboration in attracting qualified talent, waste management options and the potential for hydrogen supply.
“When companies choose a location today, it is contingent on three main factors,” says LEAG CEO Thorsten Kramer, “industrial sites with adequate infrastructure, skilled staff potential, and, of course, reliable and cost-effective renewable power supply. With a focus on a ‘decarbonising transformation,’ we believe the Lusatia Region economically is on the right track. We are very glad to have found a partner in Rock Tech, whose product will contribute to the decarbonisation of the automotive sector. Using localized, climate-neutral energy supplies for production is a strong commitment towards sustainability.”
“Our goal is to produce climate-neutral lithium with zero waste in Europe as part of a new industrial circular economy centred on batteries. We need strong partners like LEAG for this. We could push the region’s structural transformation starting in Guben and establish an ideal setting for our long-term investments. LEAG and Rock Tech both stand for change, which is why I am sure that we will jointly implement outstanding ideas,” says Dirk Harbecke, Chairman and CEO of Rock Tech.
A first step will be to explore the installation of photovoltaic systems for green power supply onto Rock Tech’s converter roof in Guben. In the long run, the lithium refinery may get hydrogen for its production from LEAG’s “Gigawatt Factory”. A second phase could be the development of an electrolyser at the Guben site. The two parties also aim to work together to recruit appropriately qualified people in a variety of fields, including lab technicians, chemical workers, welding specialists, and IT technicians.
On behalf of the Board of Directors,
Chairman & CEO
ABOUT ROCK TECH
Rock Tech is a cleantech company with operations in Canada and Germany on a mission to produce lithium hydroxide for electric vehicle 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, beginning with the Company’s proposed lithium hydroxide merchant converter and refinery facility in Guben, Germany. 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 environmental, social and governance standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its wholly-owned Georgia Lake spodumene project located in the Thunder Bay Mining District of Ontario, 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. www.rocktechlithium.com
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, forward-looking statements contained in this news release include: estimations or predictions about the outcome of the upcoming negotiations with LEAG; the further potential of collaboration; and the Company’s future plans and expectations as described in the section “About Rock Tech”.
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. The material factors or assumptions used to develop the forward-looking statements include: the outcome and possible commercial terms of tenders and offers; the Company’s ability to procure equipment necessary for its business; that all required regulatory approvals and permits can be obtained on the necessary terms in a timely manner; and that financing will be available to the Company on commercial terms. There may also be other factors that cause 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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SOURCE Rock Tech Lithium Inc.