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Drive for e-batteries: Europe's first lithium hydroxide converter to be built in Brandenburg, Germany

  • Planned investment sum 470 million euros , expected production start in 2024

  • Central component of the European battery value chain secures the lithium requirements of around 500,000 electric vehicles per year

  • Brandenburg's Economics Minister Steinbach: "With Rock Tech Lithium, we are strengthening our position as the future center of European e-mobility."

Rock Tech Lithium Inc., a cleantech company with offices in Canada and Germany is planning to build Europe's first lithium converter - a production plant for battery-grade lithium hydroxide - in Guben, Brandenburg.

The company intends to locate all production steps of lithium refining in one overall plant at the Guben site. The investment decision for all production steps still depends, among other things, on ongoing discussions regarding subsidies already applied for or still to be applied for. With its long industrial tradition and existing infrastructure, the region offers the best conditions for becoming a central component of the battery value chain and thus part of Brandenburg's e-mobility cluster. The planned total investment volume at the Guben site for all factory units is up to 470 million euros . With the entire plant in operation, around 160 technicians, engineers and production staff would be employed on site. Together, they would produce around 24,000 metric tons of lithium hydroxide per year. This would correspond to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.

With the acquisition of the site in the Guben South industrial park, Rock Tech Lithium is now creating the basis for the planned converter construction. The site, which covers a total of around twelve hectares, offers extensive space for the construction of facilities for all individual production steps in lithium refining. The already good traffic connection will be further optimized by a possible rail connection. Rock Tech Lithium will seek a close exchange with authorities, experts and local stakeholders for the planning and approval process. The converter is scheduled to start operations in 2024. Locally sourced renewable energy is to be used for production. In order to acquire the site, Rock Tech will make a cash payment to the property owners totalling 1,130,877€ no later than six (6) months from the date of the agreement. The property owners are at arm's length to Rock Tech.

Dirk Harbecke , Chief Executive Officer of Rock Tech Lithium , explains, "We are becoming the lithium partner of the automotive industry and are building our own, previously non-existent infrastructure for battery-grade lithium hydroxide in Europe. Our goal is to be the first company worldwide to create a closed loop for lithium. Guben seems to us to be the ideal location for this, with subsidies also playing a significant role." By 2030, the cleantech company plans to obtain around 50 percent of the raw materials it uses from recycling spent batteries.

The EU Commission estimates that European lithium demand for e-car batteries alone will increase 18-fold by 2030 and as much as 60-fold by 2050. A sustainable and resilient raw material supply is thus becoming a strategically decisive factor for the automotive industry.

"With Rock Tech Lithium, we are strengthening our position as the future center of European e-mobility. Brandenburg will be home to the entire value chain in the future. From raw material processing to battery and cell production to e-car construction as well as battery recycling. In this way, we are once again clearly demonstrating our own claim that Brandenburg is a state of innovation. I am all the more pleased that Rock Tech Lithium has chosen Guben as an industrial location in the energy region of Lusatia. This is an important sign for the people of the region. The Lusatia structural process has begun and is showing its first positive results. Lusatia is and will remain an important energy region in Germany ," explains Jörg Steinbach , Minister for Economic Affairs, Labor and Energy of the State of Brandenburg .

The decision in favor of Guben was preceded by a Europe -wide site search. In the end, the city of Guben came out on top due to its excellent conditions. Guben's mayor Fred Mahro is also pleased about the decision and explains: "The fact that we have found an investor so quickly for the recently decided expansion of our industrial area shows the great potential of our European city. The economic development agencies of the state, the district and the city have cooperated optimally and won a strong partner for Guben and our region with Rock Tech Lithium."

Harald Altekrüger, District Administrator of the Spree-Neiße District , adds: "The fact that Rock Tech Lithium has chosen our district is proof of our good work. In recent years, we have created structures that offer innovative companies good investment opportunities. We will continue to accompany the settlement and further development of Rock Tech Lithium with commitment."

Location at the industrial site Guben South (CNW Group/Rock Tech Lithium Inc.)

About Rock Tech Lithium Inc.

Rock Tech Lithium is a cleantech company with operations in Canada and Germany that will supply the automotive industry with high quality lithium hydroxide "made in Germany ". As early as 2024, the company will commission Europe's first lithium converter with a production capacity of 24,000 tonnes per year. This is equivalent to the volume needed to equip around 500,000 electric cars with lithium-ion batteries.

The cleantech company has set itself the goal of creating the world's first closed loop for lithium, thus closing the raw material gap on the road to clean mobility. Rock Tech owns the Georgia Lake lithium project in Ontario, Canada and, as early as 2030, around 50 percent of the raw materials used are expected to come from the recycling of batteries.

Rock Tech Lithium is listed on the TSX Venture and Frankfurt stock exchanges. The company is led by Dirk Harbecke , Chairman & CEO, Stefan Krause , Chief Financial Officer, and Don Stevens , Chief Technology Officer and Esther Bahne as Chief Strategy & Marketing Officer.

Rock Tech Lithium - The fuel for the battery age

www.rocktechlithium.com

On behalf of the Board of Directors,

Dirk Harbecke  
Chairman and Chief Executive Officer

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 news release.

Certain information set forth in this news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this news release, including those regarding Rock Tech's opinions, beliefs and expectations, business strategy, development and exploration opportunities and projects, mineral resource estimates, drilling and modeling plans, and plans and objectives of management for operations and properties constitute forward-looking information. Generally, 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 news release are expressly qualified in their entirety by the cautionary statements referred to in this section.

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 of 470€ million contained herein, 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. 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, 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.

We cannot assure you 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. Our forward-looking information reflects Rock Tech management's views as at the date the information is created. 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.

Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this news release.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/drive-for-e-batteries-europes-first-lithium-hydroxide-converter-to-be-built-in-brandenburg-germany-301396650.html

SOURCE Rock Tech Lithium Inc.

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Altech Batteries Ltd  CERENERGY Battery Project Funding Update

Altech Batteries Ltd CERENERGY Battery Project Funding Update

Perth, Australia (ABN Newswire) - Altech Batteries Limited (ASX:ATC) (FRA:A3Y) (OTCMKTS:ALTHF) is pleased to announce an update on funding of the CERENERGY(R) sodium-chloride solid-state battery project in Saxony, Germany.

Highlights

- Financing plan and target structure in place

- Funding investment teaser documents and data room established

- Reach out to 10 commercial banks and 2 venture debt funds - all positive interests

- Shortlisting potential lead bank

- Equity Funding - potential sale of minority interest of the project to realise capital and strategic value

- Discussions and draft term sheets shared with investors

- Offtake agreement LOI signed with ZISP

On 14 June 2024, the Company, through its Germany subsidiary Altech Batteries GmbH ("ABG"), announced the appointment of global big four professional services firm ("funding adviser") to assist in securing finance for the construction of Altech's 120MWh CERENERGY(R) battery manufacturing plant in Germany. The project's financing strategy is structured across three key areas: debt, equity, and grants.

These sources will cover not only the capital expenditures but also financing costs, working capital, debt service coverage, and an additional contingency for potential business interruptions, See Figure 1*.

DEBT PROCESS

A funding invitation document (investment teaser) has been finalised and distributed to various financial institutions for debt funding in the project. The Group has engaged ten commercial banks and two venture debt funds in a first market round, receiving predominantly positive initial feedback. Several of these institutions have expressed strong interest in participating in the financing. The Group is now in the process of shortlisting potential lenders to identify the most suitable financial partners for the project. To support a thorough due diligence process, a secure data room has been set up, providing detailed project information to interested financiers and ensuring full transparency. The DFS financial model has been adjusted to stress-test various funding scenarios tailored to the lending institutions ABG has engaged with. Further steps involve determining the most suitable banks to form a syndicate and appointing a lead bank to guide the lending process. This syndicate will play a crucial role in structuring the financing arrangement to meet the project's requirements.

EQUITY FUNDING

In addition to ongoing debt financing efforts, the Group has engaged several equity advisers to support the equity component of the project's funding package. As part of this strategy, the Altech Group plans to divest a minority interest in the project to one or two strategic investors. This partial divestment aims to attract investors who can bring not only capital, but also strategic value to the project, aligning with the CERENERGY(R) project's long-term growth and sustainability objectives.

The Group is specifically targeting large utility groups, data centre operators, investment funds and corporations that are heavily involved in the green energy transition. These entities are seen as ideal partners due to their strong alignment with the project's focus on sustainable energy solutions, as well as their capacity to provide substantial financial backing.

To date, significant progress has been made in these equity discussions. Several Non-Disclosure Agreements (NDAs) have been signed, allowing for deeper engagement with prospective investors. Altech has also circulated draft term sheets to a number of interested parties, outlining the proposed terms and conditions for investment. These documents serve as a starting point for negotiations, paving the way for more detailed discussions regarding the potential equity stake and partnership structure.

The strategic decision to divest a portion of the project is aimed at reducing the overall financial burden on the Company while bringing in experienced partners who can contribute to the project's success. By securing both the equity and debt components, the Company aims to finalise the full financing package, ensuring the timely construction and commissioning of the CERENERGY(R) battery plant. The next steps will focus on advancing these discussions and converting interest into formal commitments, which are crucial for moving forward with the project.

OFFTAKE ARRANGEMENTS

On 13 September 24, Altech announced the execution of an Offtake Letter of Intent between Zweckverband Industriepark Schwarze Pumpe (ZISP) and Altech Batteries GmbH. Under this Offtake Letter of Intent (LOI), ZISP will purchase 30 MWh of energy storage capacity annually, consisting of 1MWh GridPacks, for the first five years of production. The price of these batteries has been agreed and aligns with the sales price contained within Altech's Definitive Feasibility Study. The purchase of these batteries is subject to performance tests, battery specifications and the batteries meeting customer requirements. This offtake LOI constitutes an important aspect of the financing process. This lays the foundation for additional offtake arrangements, which are currently in progress. These agreements are vital for advancing our financing and construction timelines for the CERENERGY(R) project.

CEO and MD Mr Iggy Tan stated "The funding stage of any project is the most complex and challenging process of any project. Securing a big four funding adviser with expertise and a global network is a major step in our financing efforts. Altech is advancing both debt and equity discussions, along with offtake agreements, to fully fund the CERENERGY(R) project. We are seeing strong interest, especially from European banks and potential equity partners".

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/PO741A78

To view MD Iggy Tan explain the Funding, please visit:
https://www.abnnewswire.net/lnk/23705649



About Altech Batteries Ltd:  

Altech Batteries Limited (ASX:ATC) (FRA:A3Y) is a specialty battery technology company that has a joint venture agreement with world leading German battery institute Fraunhofer IKTS ("Fraunhofer") to commercialise the revolutionary CERENERGY(R) Sodium Alumina Solid State (SAS) Battery. CERENERGY(R) batteries are the game-changing alternative to lithium-ion batteries. CERENERGY(R) batteries are fire and explosion-proof; have a life span of more than 15 years and operate in extreme cold and desert climates. The battery technology uses table salt and is lithium-free; cobalt-free; graphite-free; and copper-free, eliminating exposure to critical metal price rises and supply chain concerns.

The joint venture is commercialising its CERENERGY(R) battery, with plans to construct a 100MWh production facility on Altech's land in Saxony, Germany. The facility intends to produce CERENERGY(R) battery modules to provide grid storage solutions to the market.

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An aggregate of 3,150,000 units (the " Units") of the Company were issued in the third and final tranche at a price of $0.05 per Unit for gross proceeds of $157,500, each Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one-half common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.10 per Warrant Share for a period of 60 months from the closing date. (the "Offering").

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Edison Lithium Corp. (TSXV: EDDY) (OTC Pink: EDDYF) (FSE: VV0) ("Edison" or the "Company") is pleased to announce that, effective November 12, 2024, it has accepted a non-binding purchase offer letter from Mava Gasoil LLC ("Mava"), a corporation based in Houston Texas, for the sale of 100% of the interest in the Company's Argentina subsidiary, Resource Ventures S.A. ("ReVe"), in consideration for USD$3,500,000. One of the LEXI claims owned by ReVe and the royalties on that mining property, and the PINAC mining properties owned by ReVe are excluded from the sale and will be retained by Edison.

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/NOT FOR DISTRIBUTION TO UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES/

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