Rock Tech (TSXV: RCK) has announced that it has selected Worley Limited as its preferred engineering, procurement, and construction management (EPCM) partner for the Guben Lithium Converter project. This partnership marks a significant milestone, following the final building permits and a funding award of 100 million EUR.

Key Milestones for Rock Tech’s Guben Lithium Converter

Rock Tech Partners with Worley

Rock Tech’s selection of Worley was made after a comprehensive process coordinated by Accenture, taking over six months. Worley, a global professional services company with 50,000 employees, has a proven track record in engineering, construction, and the implementation of complex industrial plants. The company has completed over 1,000 projects in the chemical and resources industries worldwide.

Importance of the Guben Lithium Converter

The Guben Lithium Converter, with a capacity of 24,000 tons of lithium hydroxide per year, is a crucial development for a resilient European battery value chain. The plant will use recycled batteries for 50% of its material by 2030. The project’s investment costs are around 800 million euros, supported by 100 million euros in funding from state and federal governments.

Rock Tech plans to begin project execution this year once financing is completed. The Brandenburg State Environmental Agency granted full permit approvals in May 2024, enabling the project to advance. Basic engineering (FEL3 study) and technical specifications for construction and commissioning have been completed, and planning for ramp-up and operation is underway.

Kerstin Wedemann, Chief Legal & Operations Officer, commented, “We are excited to develop our relationship with Worley and confident that we will achieve success for our project. Worley provides full services until commercial operation, supported by its Germany office.”

Rock Tech’s Vision and Future Plans

Rock Tech aims to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100% recycling rate. The company plans to build lithium converters close to its customers, starting with the Guben Converter in Brandenburg, Germany, and a second Converter in Red Rock, Ontario, Canada.

Rock Tech sources raw material from its Georgia Lake spodumene project in Ontario, Canada, and other ESG-compliant mines. The company’s goal is to create a closed-loop lithium production system, emphasizing strict environmental, social, and governance standards.

About Worley

Worley is a global professional services company specializing in energy, chemicals, and resources. The company partners with customers to deliver projects and create value over the life of their assets. Headquartered in Australia, Worley is committed to sustainable energy sources while meeting current energy, chemicals, and resources needs.

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