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Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) has announced its application for additional public funding from the German government. The German Federal Ministry for Economic Affairs and Climate Action (BMWK) has launched a new program under the EU Temporary Crisis and Transition Framework (TCTF). This allows Rock Tech to apply for up to €200 million funding for its lithium converter project in Europe.
Support for Battery Supply Chain
The program aims to strengthen the resilience and sustainability of the battery cell manufacturing ecosystem in Germany and Europe. Rock Tech’s CEO Dirk Harbecke and COO Klaus Schmitz express their satisfaction with the federal government’s funding prospects for the German battery industry.
Project Maturity and Funding
Rock Tech has advanced the Project to a high degree of planning and preparation. The start of material works depends on the approval of subsidies from the German federal ministry. The Company expects a positive preliminary funding commitment by Q1 2024.
About Rock Tech
Rock Tech is a cleantech company with operations in Canada and Germany. It aims to produce lithium hydroxide for electric vehicle batteries. The Company plans to build lithium converters at the door-step of its customers, to ensure supply-chain transparency and just-in-time delivery. Rock Tech is developing a proprietary refining process to increase efficiency and sustainability. The Company plans to source raw material from its wholly-owned Georgia Lake spodumene project located in Ontario, Canada, and other responsibly producing mines.
Company Website: https://www.rocktechlithium.com
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