- 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,
Dirk
Harbecke
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.