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Rock Tech to Receive €100 Million for German Lithium Refinery

Rock Tech Lithium Inc. (TSXV: RCK) has announced it will receive up to €100 million in direct grants for its German Lithium refinery in Guben. The State of Brandenburg and the German Railway Authority will provide the funding.

Rock Tech Secures Funding

Brandenburg’s Ministry for Economic Affairs, Labour and Energy has committed up to €90 million in grants for Rock Tech’s Lithium Converter in Guben. Additionally, the Federal German Railway Authority (Eisenbahnbundesamt) has offered up to €10 million for constructing train loading and unloading infrastructure.

Non-Dilutive Equity Grants

The subsidies will be paid out over the construction period as non-dilutive equity grants. However, the payout is contingent on the finalization of full equity and debt financing.

Federal Guarantee Applications

Rock Tech is also progressing with applications for up to €400 million in federal guarantees to support its debt financing. CEO Dirk Harbecke noted, “These subsidies are a major milestone for us and a big step towards the realization of the Guben Converter.”

Project Significance

The LOI confirms that after diligent vetting of the project by the Investitionsbank des Landes Brandenburg (ILB), the state will grant funding to Rock Tech, provided the company achieves full financing. The subsidies are part of the GRW funding scheme using the “Transformation Technologies” federal regulation.

Future Developments

Kerstin Wedemann, Chief Legal & Operations Officer, added, “Triggered by the positive subsidy decision, we will make significant progress over the next few months.”

About Rock Tech

Rock Tech’s vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium. The company plans to build lithium converters near its customers, starting with the proposed Lithium Hydroxide Converter in Guben, Brandenburg, Germany, and a second converter in Red Rock, Ontario, Canada.

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