VANCOUVER, BC, July 7, 2022 /PRNewswire/ – Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (“rock tech“or the”Company“) has entered into a non-binding memorandum of understanding (the “MOU”) with materials distributor and service provider thyssenkrupp Materials Trading GmbH (“Trade in materials thyssenkrupp“) as part of the establishment of a strategic partnership to supply lithium spodumene concentrate. Rock Tech plans to refine the ore from the end of 2024 in its converter project in Guben, Germanyin high-purity lithium hydroxide, a key element in batteries for electric cars and rechargeable hybrids.
The MoU between the two companies also includes a framework for thyssenkrupp Materials Trading to purchase high-purity lithium hydroxide for the battery market, as well as other by-products resulting from the refining process. Thus, the potential partnership should promote a more resilient supply chain for lithium directly from Germanyfrom raw material sourcing to refining, to meeting the demand of the automotive industry and the growing demands for electromobility.
Markus Brügmann, CEO of Rock Tech, says: “With thyssenkrupp Materials Trading, we have found a global logistics and trading partner that gives us additional security in the supply of spodumene. This should give us a broader base for our entry flow, which would take us a big step forward on the road to success.”
Wolfgang SchnittkerManaging Director of thyssenkrupp Materials Trading, said: “The potential partnership with Rock Tech underscores the systematic expansion of our global trading activities in the international battery and electric vehicle industry. Trading in lithium products would add another very important raw material to our supply portfolio for the production of long life batteries.”
Spodumene is one of the most important raw materials, among other things, for the production of lithium-ion batteries in electric vehicles. For this purpose, the spodumene mineral must be refined into lithium hydroxide, which can then be supplied to cathode manufacturers for the battery industry worldwide. Cathodes are essential components of battery cells. The lithium and spodumene concentrate will be used in Rock Tech’s first converter in Guben, Germanywhich is expected to produce battery-grade lithium hydroxide from 2024.
ABOUT THYSSENKRUPP MATERIAL SERVICES
thyssenkrupp Materials Services is the largest factory-independent materials distributor and service provider in the Western world, with approximately 380 locations – including approximately 260 warehouses – in more than 30 countries. The extensive range of services offered by the materials experts allows customers to focus even more on their individual core business. As part of its strategic development “Materials as a Service”, the company focuses on high-quality raw and basic materials, technical services and the development of intelligent processes in automation, the extended supply chain and warehouse and inventory management. Digital solutions ensure efficient and resource-saving processes for customers and thus form the basis for sustainable action. From 2030, Materials Services will operate on a climate-neutral basis.
ABOUT ROCK TECH LITHIUM INC.
Rock Tech Lithium Inc. is a clean technology company operating in Canada and Germany which aims to provide the automotive industry with “made in Germany” lithium hydroxide. As early as 2024, Rock Tech intends to put into service Europe first lithium converter with a production capacity of 24,000 tons per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.
Rock Tech owns the Georgia Lake project in Ontario, Canada. The Company has set itself the goal of creating a closed loop for lithium, thus filling the lack of raw material on the path to clean mobility. By 2030, approximately 50% of the raw materials used by Rock Tech should come from battery recycling.
On behalf of the Board of Directors,
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Caution Regarding Forward-Looking Information
The following caveats are in addition to all other caveats and disclaimers contained elsewhere in, or referenced by, this press release.
Certain information in this press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws, which are based on current expectations, estimates and estimates. of Rock Tech, and assumptions in light of its experience and perception of historical trends. All statements other than statements of historical fact may constitute forward-looking information. Often, forward-looking information can be identified by the use of words or phrases such as “estimate”, “project”, “anticipate”, “expect”, “intend”, “believe”. , “hope”, “can” and similar expressions, as well as “will”, “shall” and all other indications of the future. All forward-looking information set forth in this press release is expressly qualified in its entirety by the cautionary statements set forth in this section.
In particular, this press release contains forward-looking information regarding: expectations regarding the memorandum of understanding, including statements regarding the benefits and results thereof; future actions taken by Rock Tech and thyssenkrupp Materials Trading, including with respect to the establishment of a strategic partnership between the parties, the purchase and sale of spodumene and lithium hydroxide, respectively, and the benefits expected from future agreements between the parties; statements regarding the lithium hydroxide converter offered by Rock Tech, including its features and location; statements regarding Rock Tech’s future plans and expectations, including with respect to the company’s raw materials sourcing strategy and the impact of a strategic partnership with thyssenkrupp Materials Trading on it; anticipated production of lithium hydroxide and related processing methods and results; statements and expectations regarding the electric vehicle industry; Rock Tech’s opinions, beliefs and expectations regarding the company’s business strategy, opportunities and plans for development and exploration; and management plans and objectives for the Company’s operations and properties.
The forward-looking information contained in this press release is based on certain assumptions, estimates, expectations, analyzes and opinions of the Company and, in some cases, third-party experts, which Rock Tech’s management believes to be reasonable at the time it was made. been manufactured. These assumptions, estimates and other factors include, among others: supply and demand, deliveries and the level and volatility of prices for raw materials and intermediate and final lithium products, growth, performance and business operations. forecasts, future commodity prices and exchange rates, prospects, growth opportunities and financing available to the Company, general business and economic conditions, development and exploration results, Rock Tech’s capacity to obtain the supplies and other equipment necessary for its activity. The foregoing list is not exhaustive of all assumptions that may have been used in preparing forward-looking information. Although Rock Tech considers these assumptions, estimates and factors to be reasonable based on currently available information, they may prove to be incorrect. Forward-looking information should not be construed as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech’s control, which may cause Rock Tech’s actual events, results, performance and/or achievements to be are materially different from those expressed or implied by such forward-looking information. The risks and uncertainties that could cause actual events, results, performance and/or achievements to differ materially include the Company’s ability to access the necessary financing to invest in available opportunities and projects (including lithium hydroxide converters offered by the Company) and, on satisfactory terms, the and potential adverse impacts of the COVID-19 pandemic and recent geopolitical hostilities; the risk that Rock Tech may not be able to meet its financial obligations as they come due, changes in commodity and other commodity prices, Rock Tech’s ability to attract and retain qualified personnel and obtain raw materials from from third-party vendors, unforeseen events and other difficulties related to the construction, development and operation of the lithium hydroxide converters offered by the Company, the cost of compliance with current environmental and other laws and regulations and futures, title defects, competition from existing and new competitors, currency changes, exchange rates and market prices of Rock Tech securities, history of Rock Tech losses, impacts of climate change and other risks and uncertainties described from time to time in Rock Tech’s public disclosure documents available on the Company’s SEDAR profile at www.se dar.com, including those discussed under “Risk Factors” in Rock Tech Forme’s most recently filed MD&A and Annual Information, respectively. These risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to differ materially from the forward-looking information.
We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management’s assumptions may prove to be incorrect. Forward-looking information reflects the opinions of Rock Tech’s management as of the date the information is created. Except as required by law, Rock Tech assumes no obligation and expressly disclaims any responsibility, obligation or commitment to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech’s expectations or any change in events, conditions or circumstances on which such information is based.
Given these uncertainties, readers are cautioned not to rely on any forward-looking information presented in this press release.
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