#Canada #Toronto #Rock Tech Lithium #Guben Converter #Lithium Hydroxide

Rock Tech Lithium Achieves Strategic Project Status

Rock Tech Lithium Inc. has recently announced a pivotal development for its operations in Europe. The company's Lithium Converter Project, designated as the Guben Converter located in Germany, has been awarded strategic project status by the European Commission under the EU Critical Raw Materials Act (CRMA). This accolade showcases the project's vital role in strengthening the European battery materials supply chain amidst the ongoing transition to sustainable energy.

The Guben Converter is set to produce 24,000 tonnes of battery-grade lithium hydroxide each year, which is sufficient to supply over 500,000 electric vehicles. This transformation is crucial as Europe aims to reduce its dependency on imports and boost local production of critical raw materials required for electric vehicle (EV) batteries.

Implemented in May 2024, the CRMA is designed to enhance the EU's capacity for securing and processing 17 essential raw materials vital for energy transition, including lithium. By reducing reliance on foreign imports while sustaining high environmental and social standards, the CRMA aims to promote a resilient and sustainable supply chain.

In a highly competitive environment with over 170 applications submitted to the European Commission, Rock Tech is thrilled that the Guben Converter garnered this strategic designation. The EU has committed an initial funding of 2 billion EUR to support selected projects through loans and guarantees, which further bolsters confidence in the project’s future.

Dirk Harbecke, CEO of Rock Tech, expressed his enthusiasm regarding this accomplishment: "This milestone not only affirms the strategic value of our Guben project but also positions us as a key enabler of Europe's green industrial future. We are honored to be recognized as a Strategic Project by the European Commission and remain fully committed to advancing a secure, sustainable, and independent lithium supply for Europe."

Rock Tech envisions a comprehensive supply chain for the electric vehicle and battery industry, aiming for a 100% recycling rate in its operations. The establishment of lithium converters close to its customers is a strategic move, with the Guben facility being the first of two planned converters – the second slated for development in Red Rock, Ontario, Canada.

Obtaining raw materials will stem primarily from Rock Tech's own Georgia Lake spodumene project located in the Thunder Bay Mining District of Ontario, while also ensuring procurement from other environmentally and socially responsible (ESG) compliant mines. The overarching goal is to create a closed-loop lithium production system, drastically cutting down on waste and promoting sustainability.

Rock Tech's commitment to environmental, social, and governance (ESG) standards reflects its ambition to leading the charge in renewable energy solutions. By enhancing its proprietary refining processes, the company aims to further increase the efficiency and sustainability of its operations in the long run.

Forward-looking statements in this announcement underline the potential growth and commitment to strategic agendas while managing expectations surrounding financial and corporate developments. By prioritizing not just production but also sustainability, Rock Tech is steering itself into a critical position within the clean mobility narrative, poised to make significant contributions to the industry.

As Rock Tech Lithium continues to push forward with projects like the Guben Converter, it exemplifies the transformative potential of strategic partnerships and innovative solutions in harnessing the power of lithium for sustainable energy. This government recognition lays the groundwork for future expansions and advances in the critical raw materials landscape in Europe, aimed at fostering a robust and environmentally-conscious electric vehicle ecosystem.