Canada-based cleantech company, Rock Tech Lithium Inc., is reportedly planning to develop Europe's foremost lithium converter, which will be a manufacturing unit for battery-class lithium hydroxide located in Guben, Brandenburg (Germany).

The company currently intends to establish all production processes for lithium refining at a single plant in Guben, with the investment decisions for all manufacturing steps still depending on factors such as applicable subsidies or subsidies which are still to be applied for.

Notably, the total investment at the Guben site is expected to be nearly USD 544 million, which will include the entire plant in operation and around 160 engineers, technicians, and production staff. Around 24000 metric tons of lithium hydroxide will be manufactured per year, which is equivalent to the volume required to power 500,000 electric cars with lithium-ion batteries.

To purchase the twelve-hectare site, the company will make an upfront payment of USD 1,308,820, to the property owners six months from the date of the agreement.

With the acquisition, Rock Tech Lithium will build the foundation for the planned converter construction and will use locally sourced renewable energy for production. The converter is scheduled to start operations in 2024 after the company acquires the required approvals from experts, authorities, and local stakeholders.

The EU Commission projects that lithium demand for e-car batteries in Europe will see an 18-factor increase by 2030 and a 60-factor increase by 2050. Therefore, a sustainable and consistent raw material supply will be a strategically profitable determinant for the regional automotive industry.

In this context, Rock Tech Lithium has a vision of creating the world's first closed-loop for lithium, which will bridge the raw material gap on the road to sustainable mobility. The company owns the Georgia Lake lithium project in Canada, and around 50% of its raw materials are expected to be sourced from recycled batteries by 2030.

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