GUBEN, Germany, Jan. 30, 2023 /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech"), GP Papenburg Entsorgungs Ost GmbH ("Papenburg" or "GP Papenburg") and Schwenk Zement GmbH & Co.KG ("Schwenk" or "Schwenk Zement") have signed a Memorandum of Understanding in January in preparation for the commercial use of by-products from lithium production. The aim is to adopt the processes previously developed by the jointly founded Lithium Institute (ITEL) by the end of 2023 and thus to produce in a more resource-efficient and cross-industrial way potentially saving carbon emissions.
To implement its zero-waste strategy, Rock Tech is planning to discuss direct purchase agreements for its by-products with the German heavyweights of the construction industry GP Papenburg and Schwenk Zement. In preparation, the three companies therefore have agreed in a Memorandum of Understanding to further assess the process in which cross-industry collaboration could be implemented on commercial scale.
Among other ideas, the aim is to use alumosilicate from lithium processing in a resource-efficient way in the construction materials industry. This would enable Rock Tech to avoid waste that otherwise would occur and, together with GP Papenburg and Schwenk, to reduce carbon emissions across sectors. At the same time, the two construction companies will be given opportunities to develop new, innovative and sustainable products.
"In our raw material, spodumene, lithium is incorporated in mineral form in alumosilicate, which is a by-product of our lithium conversion. The fact that the alumosilicate is already calcined during the lithium conversion means that, at best, this process step can be avoided on the side of the cement industry, which can save energy and thus CO2 emissions there," says Martin Adorni, Rock Tech's Head of Process and Technology Transfer, explaining the special feature of the process.
The project has been scientifically supported by the Lithium Institute (ITEL). The promising preliminary results are now to be further processed until the end of 2023. If the anticipated results are confirmed, a waste stream in lithium extraction could pay off ecologically and economically for Rock Tech through targeted purchase agreements.
Rock Tech is a cleantech company on a mission to produce lithium hydroxide for EV batteries. The Company plans to build lithium converters at the door-step 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. The Company has adopted strict ESG standards and is developing a proprietary refining process aimed at further increasing efficiency and sustainability. Rock Tech plans to source raw material from its own mineral project in Canada as well as procuring it from other responsibly producing mines. In the years to come, the Company expects to also source raw material from discarded batteries. Rock Tech's goal: to create a closed-loop lithium production system.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this press release.
Certain information set forth in this press release constitutes "forward-looking information" ("forward-looking information") within the meaning of applicable Canadian securities laws, which are based on Rock Tech's current expectations, estimates, and assumptions in light of its experience and is perception of historical trends. All statements other than statements of historical facts may constitute forward-looking information. Often, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this press release is expressly qualified in its entirety by the cautionary statements referred to in this section.
In particular, forward-looking information contained in this press release includes, but is not limited to: statements regarding Rock Tech's and GP Papenburgs' and Schwenk Zement's respective vision, strategy and objectives; statements regarding the MoU, including future actions taken by the parties and the expected timing and benefits thereof; the expected contribution of the partnership and the MoU to the parties' zero-waste strategy and objectives and the by-products; expectations concerning the Guben Converter, including the design and features of the Guben Converter, as well as the expected costs, capital expenditures, timing and outcomes thereof; statements regarding the Company's future plans, estimates, and schedules relating to the Guben Converter, including the anticipated timing of future activities taken in support of the development thereof; Rock Tech's expectations regarding the FEL3 study including the related activities, findings and uses thereof; potential financing arrangements; the expected economic performance of the Guben Converter and anticipated production of battery-grade lithium hydroxide, by-products and related processing methods employed; the estimated capital and operating costs of the Guben Converter; the anticipated timing and outcomes of a final investment decision, construction activities and commissioning of the Guben Converter; statements regarding the Company's sustainability and ESG related goals and zero-waste-strategy, including the benefits and achievement thereof, a final calculation of reduced carbon emissions, and future actions taken by the Company in relation thereto; expected regulatory processes and final outcomes, including in relation to the use of by-products from lithium processing in the building materials industry in a resource-efficient and low-CO2 way; expectations regarding the electric vehicle industry, including the demand for and pricing of battery-grade lithium hydroxide and the benefits therefrom, and the development of political and regulatory frameworks especially in Germany and the European Union; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects; and plans and objectives of management for the Company's operations and properties.
Forward-looking information is based on certain estimates, expectations, analysis and opinions that are believed by management of Rock Tech to be reasonable at the time they were made or in certain cases, on third party expert opinions. It should be noted that, in order to proceed with the planned investment, Rock Tech will be required to raise additional funding and the availability of financing on satisfactory terms is not guaranteed. This forward-looking information was derived utilizing numerous assumptions regarding, among other things, the supply and demand for, deliveries of, and the level and volatility of prices of, intermediate and final lithium products, expected growth, performance and business operation, prospects and opportunities, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business, including development and exploration activities, and timing related to government approvals. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the risk that Rock Tech will not be able to meet its financial obligations as they fall due, delays in government approval for the construction of the Guben Converter, changes in commodity prices, Rock Tech's ability to retain and attract skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of converters and mines, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties discussed under the heading "Financial Instruments and Other Risks" in Rock Tech's most recently filed Management Discussion and Analysis, a copy of which is filed electronically through SEDAR and is available online at www.sedar.com. Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forward-looking information.
It can not be guaranteed that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect. This forward-looking information reflects Rock Tech management's current views as at the date of this press release. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based.
The forward-looking information contained herein is presented for the purposes of assisting readers in understanding Rock Tech's plans, objectives and goals and is not appropriate for any other purposes.
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