- Rock Tech (RCK) has been granted an early start to build its lithium converter in Guben, Germany
- Initial significant onsite work on the 650 million euro project will begin in the next few weeks
- Beginning in 2025, the converter is expected to produce around 24,000 tonnes of battery-grade lithium hydroxide
- Rock Tech is a cleantech company assembling a closed-loop system to produce lithium hydroxide for electric vehicle batteries
- Rock Tech Lithium (RCK) is up by 13.92 per cent, trading at $2.70 per share
Rock Tech (RCK) has been granted an early start to build its lithium converter in Guben, Germany.
Initial significant onsite work on the 650 million euro project will begin in the next few weeks, including the construction of roads, offices and storage facilities.
Beginning in 2025, the converter is expected to produce around 24,000 tonnes of battery-grade lithium hydroxide.
During the application procedure, which involved public participation, no objections were received, which the company considers a positive indication of support for construction.
Last November, Rock Tech submitted the second and final tranche of construction permit applications. The company expects approval from summer 2023 onwards.
Rock Tech has invested over 250,000 working hours and over 45 million euros in project planning and design to date.
“Our converter will be the first of its kind in Europe. The production of our battery-grade lithium hydroxide will be an essential part of the battery mineral supply chains in Europe,” stated Klaus Schmitz, Rock Tech’s COO. “This is another reason why the approval by the authority is an important step towards implementation and sends a clear signal to the market.”
Rock Tech is a cleantech company assembling a closed-loop system to produce lithium hydroxide for electric vehicle batteries.
Rock Tech Lithium (RCK) is up by 13.92 per cent, trading at $2.70 per share as of 10:04 am EST.
