Rock Tech Lithium Receives Construction and Operations Permit Approvals for German Lithium Refinery

Rhea-AI Summary

Rock Tech Lithium announced it has received full permits for its planned lithium refinery in Guben, Germany. The Brandenburg State Office for the Environment issued the final approval after an extensive review. The refinery will produce 24,000 tons of battery-grade lithium hydroxide annually. CEO Dirk Harbecke highlighted that Rock Tech is the first company in Europe to receive such a permit without any appeals, reflecting the team's dedication and the support of Brandenburg authorities.

Positive

• Received full construction and operations permits for the Guben, Germany lithium refinery.
• Capacity to produce 24,000 tons of battery-grade lithium hydroxide annually.
• First company in Europe to permit a full-scale lithium refinery without any appeals.
• Reflects strong support and diligent review by Brandenburg authorities.

Negative

• No mention of a specific timeline for the start of construction or operations.
• Uncertain market conditions could impact the profitability of the refinery.
• The high cost of establishing and maintaining a refinery could strain financial resources.

TORONTO, May 17, 2024 /PRNewswire/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock Tech" or the "Company") is very pleased to announce that it has received the full permits for its planned Lithium refinery in Guben, Germany.

Today, the Brandenburg State Office for the Environment issued the final approval for Rock Tech's Lithium refinery. The approval was preceded by an extensive review according to the federal immission control act (BImSchG) by the State Office for the Environment (LfU). The Company plans to produce 24,000 tons of battery-grade lithium hydroxide annually.

"This is an exciting day for Rock Tech. Not only have we received the full permits to operate our Converter in Germany, but also are we the first company in Europe to permit a full-scale Lithium Refinery - without any appeals to the project. This is testament to the great work of our team. I also would like to thank the Brandenburg authorities for their support and diligence." said Rock Tech's Chairman and CEO Dirk Harbecke.

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 doorstep 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. The second Lithium converter is planned to be built in Red Rock, Ontario, Canada. 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. 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's goal: to create a closed-loop lithium production system.

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.

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, 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.

FAQ

What permits has Rock Tech Lithium received for its Guben refinery?

Rock Tech Lithium has received full construction and operations permits for its planned lithium refinery in Guben, Germany.

How much lithium hydroxide will Rock Tech's Guben refinery produce?

The Guben refinery will produce 24,000 tons of battery-grade lithium hydroxide annually.

Why is Rock Tech Lithium's permit approval significant?

Rock Tech is the first company in Europe to permit a full-scale lithium refinery without any appeals, showcasing the project's strong support and diligent review by Brandenburg authorities.

When did Rock Tech Lithium receive the construction and operations permits for the Guben refinery?

Rock Tech Lithium received the permits on May 17, 2024.

What is the stock symbol for Rock Tech Lithium?

Rock Tech Lithium's stock symbol is RCKTF.