05:26:15 EST Fri 03 Feb 2023
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Rock Tech Lithium Inc (2)
Symbol RCK
Shares Issued 73,254,774
Close 2022-07-13 C$ 4.38
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Rock Tech signs framework deal with German car producer

2022-07-13 09:35 ET - News Release

Mr. Markus Bruegmann reports

ROCK TECH LITHIUM SIGNS FRAMEWORK AGREEMENT WITH A GLOBALLY OPERATING CAR PRODUCER BASED IN GERMANY

Rock Tech Lithium Inc. has signed a framework agreement with a renowned globally operating car producer having its headquarters in Germany, establishing the basis for arrangements between the parties for the supply of lithium hydroxide, a key material in the production of lithium-ion electric vehicle batteries. The agreement forms the basis between the automaker and Rock Tech Lithium for future supplies of lithium hydroxide and has a five-year term with renewal options.

Additionally, the framework agreement supports the parties' respective commitments to environmental responsibility and sustainability, including an agreement to create a road map to achieve carbon dioxide-neutral production of lithium hydroxide by the end of 2030 and requiring that any product supplied to the costumer be sourced from mining sites audited by the Initiative for Responsible Mining Assurances (IRMA).

Markus Bruegmann, chief executive officer of Rock Tech Lithium, comments: "We are very pleased to have found a renowned partner to advance the topic of e-mobility. We expect to commence production of lithium hydroxide in Guben, Brandenburg, where we are building Europe's first lithium hydroxide converter. The start of production is planned for 2024."

About Rock Tech Lithium Inc.

Rock Tech is a clean technology company on a mission to produce lithium chemicals for electric vehicle batteries. The company aims to serve automotive customers with high-quality lithium hydroxide made in Germany. Rock Tech plans to build high-tech lithium converters at the doorstep of its customers, to guarantee supply chain transparency and just-in-time delivery. To close the most pressing gap in the clean mobility story, Rock Tech has gathered one of the strongest teams in the industry. It holds itself accountable to strict ESG (environmental, social, governance) standards and is developing a proprietary refining process to further increase efficiency and sustainability. Rock Tech plans to source raw material from its own mineral project in Canada as well as procuring it from responsibly producing mines. In the years to come, the company will extract its material from discarded batteries. Rock Tech's goal: to become the first closed-loop lithium company in the world.

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