19:48:52 EST Mon 30 Jan 2023
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Rock Tech Lithium Inc (2)
Symbol RCK
Shares Issued 71,624,851
Close 2022-02-01 C$ 5.31
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Rock Tech Lithium signs EPCM LOI with Bilfinger

2022-02-02 09:48 ET - News Release

Mr. Markus Brugmann reports

BILFINGER TO SUPPORT ROCK TECH LITHIUM ON ITS CONSTRUCTION OF EUROPE'S FIRST LITHIUM REFINERY: LETTER OF INTENT ENTERED INTO

Industrial services provider Bilfinger and Rock Tech Lithium Inc. have signed a letter of intent for Bilfinger to serve as EPCM (engineering, procurement and construction manager) to Rock Tech Lithium. The agreement relates to the construction of Europe's first lithium hydroxide converter. The production plant for battery-grade lithium hydroxide is to be built in Guben, Brandenburg, Germany, and, when completed, will produce 24,000 metric tonnes of lithium hydroxide annually for the batteries of 500,000 electric cars. Rock Tech's project is currently at an advanced planning stage. Bilfinger will provide engineering services directly and, in the event of realization, primarily further procurement services as well as construction management.

Christina Johansson, interim chief executive officer and chief financial officer of Bilfinger, stated: "The production of lithium hydroxide as a component of electric car batteries is essential for a climate-friendly mobility transition. The concept developed by Rock Tech Lithium for the construction of the lithium refining plant is innovative and technologically convincing. We look forward to helping shape the further steps towards the implementation of the project with our decades of experience in planning and construction management of industrial plants."

Markus Brugmann, chief executive officer of Rock Tech Lithium, said: "With Bilfinger, we have found and selected an excellent industrial partner who has crucial experience in the construction of complex industrial plants and can implement our project with the highest level of competence. The co-operation is another significant milestone for Rock Tech Lithium on its way to becoming a leading clean tech company supplying the automotive industry with high-purity lithium hydroxide. Together with Bilfinger, we want to drive the battery era forward."

Rock Tech Lithium announced on Oct. 11, 2021, the construction of Europe's first lithium refinery and acquired the required site from the City of Guben.

Rock Tech Lithium pursues the goal of producing lithium hydroxide over the entire value chain with the lowest-possible impact on the environment. Thus, together with the German Lithium Institute (ITEL), the company has developed a zero-waste strategy, which envisages also recycling the byproducts of lithium hydroxide production -- for example in the gypsum industry. The aim is to recycle the lithium itself at a later stage.

Bilfinger is one of the leading international providers of industrial services and has extensive expertise in plant construction going back many years. The group covers the entire value chain -- from consulting through manufacturing to the maintenance of industrial plants -- and has already successfully implemented several projects in the electromobility sector, such as the construction of a BASF production plant for battery materials in Harjavalta, Finland.

About Rock Tech Lithium Inc.

Rock Tech Lithium is a clean tech company operating in Germany and Canada that will supply the automotive industry with high-quality lithium hydroxide made in Germany. As early as 2024, the company will commission Europe's first lithium converter with a production capacity of 24,000 metric tonnes per year. An amount sufficient to equip around 500,000 electric cars with lithium-ion batteries.

The clean tech company aims to create the world's first closed loop for lithium, closing the raw material gap on the road to clean mobility. Rock Tech owns the Georgia Lake lithium project in Ontario, Canada. As early as 2030, around 50 per cent of the raw materials used are expected to come from recycling spent batteries.

Rock Tech Lithium is listed on the TSX Venture Exchange and Frankfurt Stock Exchange. The company is led by Dirk Harbecke, chairman, Markus Brugmann, chief executive officer, Stefan Krause, chief financial officer, Don Stevens, chief technology officer, and Esther Bahne as chief strategy and marketing officer.

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