Raw materials - Rock Tech secures 100 million euros for establishment in Brandenburg
The raw material company Rock Tech is reportedly receiving a funding of 100 Million Euro, according to its own statements, for setting up a Lithium refinery in Brandenburg, Germany, specifically in Guben (Spree-Neiße). The majority of the money comes from the state of Brandenburg, the company announced on Thursday. Around ten million Euro is reportedly contributed by the Federal Railway Administration (EBA). The EBA is funding, according to the company's statements, a railway connection for the future production site, enabling transportation on rail.
Negotiations are currently ongoing regarding guarantees from the Federal Government in the amount of 400 Million Euro, with which Rock Tech intends to secure loans. "I am very confident that we will close the remaining financing steps for Guben in the coming months," stated CEO Dirk Harbecke further.
"I am pleased that, following the handover of the construction and operating permits by the State Environment Agency (LfU) at the end of May 2024, another step has been taken and the investment perspective for Rock Tech's lithium hydroxide production in Guben has become more concrete," stated Brandenburg's Economic Minister, Jörg Steinbach (SPD). "The future production of lithium hydroxide in Guben represents another building block in the value creation chain in the field of electromobility that is currently being built up in Brandenburg."
The Canadian company Rock Tech Lithium produces and processes the essential raw material for battery cell manufacturing for electromobility. The State Environment Agency (LfU) granted a final permit for the planned Lithium production plant in Guben in mid-May. The permit was preceded by an emissions control review by LfU. The industrial plant is expected to produce 24,000 tonnes of lithium hydroxide annually, according to the company's statements.
Press release Rock Tech
The raw material company, Rock Tech, is utilizing a significant portion of its funding from the state of Brandenburg and the Federal Railway Authority (EBA) to establish a Lithium refinery in Guben, a city in Brandenburg's Spree-Neiße region. The Federal Government is also in negotiations to provide guarantees of 400 Million Euro to secure loans for Rock Tech. CEO Dirk Harbecke expressed confidence that the remaining financing steps for Guben will be completed in the coming months. Following the approval of construction and operating permits by the State Environment Agency (LfU) in 2024, the Federal Railway Authority is reportedly funding a railway connection for the future production site, enabling transportation on rail, thereby contributing to the overall finances of the project.
