Rock Tech Lithium Inc. (the “Company” or “Rock Tech”) is pleased to announce that the Company has signed a framework agreement (the “Framework Agreement”) with a renowned globally operating car producer having its headquarters in Germany establishing the basis for arrangements between the parties for the supply of lithium hydroxide, a key material in the production of lithium-ion electric vehicle batteries. The agreement forms the basis between the automaker and Rock Tech Lithium for future supplies of lithium hydroxide and has a five-year term with renewal options.
Additionally, the Framework Agreement supports the parties’ respective commitments to environmental responsibility and sustainability, including an agreement to create a roadmap to achieve CO2-neutral production of lithium hydroxide by the end of 2030 and requiring that any product supplied to the costumer be sourced from mining sites audited by the Initiative for Responsible Mining Assurances (IRMA).
Markus Bruegmann, CEO of Rock Tech Lithium, comments: “We are very pleased to have found a renowned partner to advance the topic of e-mobility. We expect to commence production of lithium hydroxide in Guben, Brandenburg, where we are building Europe’s first lithium hydroxide converter. The start of production is planned for 2024.”
RockTech is a cleantech company on a mission to produce lithium chemicals for EV batteries. The company aims to serve automotive customers with high-quality lithium hydroxide made in Germany. Rock Tech plans to build high-tech 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. It holds itself accountable to strict ESG standards and is developing a proprietary refining process to further increase efficiency and sustainability. Rock Tech plans to source raw material from its own mineral project in Canada as well as procuring it from responsibly producing mines. In the years to come, the company will extract its material from discarded batteries. Rock Tech’s goal: to become the first closed-loop lithium company in the world.