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Rock Tech Lithium Inc. (OTCQX: RCKTF) is a cleantech company operating in Canada and Germany with a focus on producing lithium hydroxide for electric vehicle batteries. The company plans to construct lithium converters near its customers to ensure transparent supply chains and timely delivery. Starting with the proposed lithium hydroxide converter and refinery facility in Guben, Germany, Rock Tech aims to establish the second converter in Red Rock, Ontario, Canada. By sourcing raw materials from its Georgia Lake spodumene project and other environmentally responsible mines, Rock Tech aims to address the critical gap in sustainable mobility by creating a closed-loop lithium production system.
Rock Tech Lithium has adopted an 'Advance Notice By-law' to streamline the process of nominating directors. This by-law sets specific deadlines for shareholders to submit nominations before annual or special meetings. For annual meetings, nominations must be submitted at least 30 days before the meeting; for special meetings, nominations must be submitted within 15 days of the meeting announcement. The by-law will ensure shareholders have enough information about director nominees to make informed voting decisions. This by-law is effective immediately but requires shareholder approval at the upcoming Annual and Special Meeting on June 27, 2024.
Rock Tech Lithium provides an update on its German subsidy application, shifting from federal to state-level funding, receiving full support from the state of Brandenburg. Federal funding under the TCTF program for a lithium refinery in Brandenburg was not granted due to budget constraints. Rock Tech is exploring options while prioritizing the plant realization with state support. The project is important for Germany's battery cluster and has secured partnerships for raw material supply and by-product utilization.
Rock Tech Lithium Inc. announces a feedstock supply agreement with C&D Logistics (Qingdao) Co., , a Fortune Global 500 member. The agreement signed on April 23, 2024, includes the supply of spodumene concentrate for Rock Tech's Lithium refinery in Germany, with deliveries starting in 2025 and a pricing concept based on market index.
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