(Image via Rock Tech Lithium Inc.)
The electric vehicle (EV) and green energy revolution have arrived, and one company is empowering the battery revolution in Europe.
Rock Tech Lithium Inc. (TSX-V: RCK, OTCPK: RCKTF, Forum) is creating Europe’s first lithium hydroxide converter – a production plant for battery-grade lithium hydroxide – in Brandenburg Germany, located just over 100 kms from Tesla’s Gigafactory Berlin-Brandenburg.
The planned total investment volume at the Guben site for all factory units is up to $675 million (CAD, 470 million euros). With the entire plant in operation, approximately 160 technicians, engineers and production staff would be employed to produce around 24,000 metric tons of lithium hydroxide per year. This would correspond to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
With the acquisition of the site in the Guben South industrial park, Rock Tech Lithium is now making plans for the converter construction.
The company plans to locate all production steps of lithium refining in one plant at the Guben site. With its long industrial tradition and existing infrastructure, the region offers the best conditions for becoming a central component of the battery value chain and thus part of Brandenburg’s e-mobility cluster.
The site, which covers a total of around 12 hectares, offers extensive space for the construction of facilities for all individual production steps in lithium refining. The already good traffic connection will be further optimized by a possible rail connection. The converter is scheduled to start operations in 2024. To acquire the site, Rock Tech will make a cash payment to the property owners totalling $1,623,260 (CAD, 1,130,877€). The property owners are at arm’s length to Rock Tech.
In a mid-October 2021 media release detailing this news for investors, Rock Tech Lithium’s Chief Executive Officer Dirk Harbecke, commented on the project, saying the company is becoming the lithium partner of the automotive industry and is building its own, previously non-existent infrastructure for battery-grade lithium hydroxide in Europe.
“Our goal is to be the first company worldwide to create a closed loop for lithium. Guben seems to us to be the ideal location for this, with subsidies also playing a significant role.”
By 2030, the cleantech company plans to obtain around 50% of the raw materials it uses from recycling spent batteries. The EU Commission estimates that European lithium demand for e-car batteries alone will increase 18-fold by 2030 and as much as 60-fold by 2050. A sustainable and resilient raw material supply is thus becoming a strategically decisive factor for the automotive industry.
Minister for Economic Affairs, Labor and Energy of the State of Brandenburg, Jörg Steinbach commented on the partnership with Rock Tech Lithium.
“With Rock Tech Lithium, we are strengthening our position as the future center of European e-mobility. Brandenburg will be home to the entire value chain in the future. From raw material processing to battery and cell production to e-car construction as well as battery recycling. In this way, we are once again clearly demonstrating our own claim that Brandenburg is a state of innovation. I am all the more pleased that Rock Tech Lithium has chosen Guben as an industrial location in the energy region of Lusatia. This is an important sign for the people of the region. The Lusatia structural process has begun and is showing its first positive results. Lusatia is and will remain an important energy region in Germany.”
The decision in favour of Guben was preceded by a Europe-wide site search. In the end, the city of Guben came out on top due to, as its mayor Fred Mahro said, excellent conditions.
“The fact that we have found an investor so quickly for the recently decided expansion of our industrial area shows the great potential of our European city. The economic development agencies of the state, the district and the city have cooperated optimally and won a strong partner for Guben and our region with Rock Tech Lithium.”
Harald Altekrüger, District Administrator of the Spree-Neiße District added that the fact that Rock Tech Lithium has chosen this district is proof of the good work done there.
“In recent years, we have created structures that offer innovative companies good investment opportunities. We will continue to accompany the settlement and further development of Rock Tech Lithium with commitment.”
Rock Tech believes batteries must be long-lasting and safe, and at the end of their life, they should be repurposes, remanufactured or recycled, feeding valuable materials back into the economy. The company is making investments in R&D today so that it can recycle the lithium out of the batteries as soon as these are available.
The aim is to create a circular economy company in the field of lithium and battery raw material supply. For investors, this represents a huge opportunity in the growing EV industry to become one of the dominant players, especially in the European markets.
RCK stock has risen 268.6% year-to-date and 544.2% since this time, last year.
For more information about the company, visit rocktechlithium.com.
FULL DISCLOSURE: This is a paid article produced by Stockhouse Publishing.