German-Canadian company Rock Tech Lithium has received funding commitments of up to 100 million euros from the state government of Brandenburg and the Federal Railway Authority. These grants are earmarked for the construction of the lithium hydroxide converter in Guben, which is expected to be operational in 2025. The plant is expected to have an annual production capacity of 24,000 metric tons of lithium hydroxide monohydrate. Financing requirements for the project amount to approximately 800 million euros.
Agreement to be signed in fourth quarter
The Ministry for Economic Affairs, Labour and Energy of the State of Brandenburg has signed a letter of intent to provide funding of up to 90 million euros. These funds are subject to Rock Tech Lithium securing the overall financing of the project. In addition, the Federal Railway Authority has agreed to provide funding of up to ten million euros for the construction of loading and unloading infrastructure for rail freight transport. Rock Tech expects the grant agreement to be signed and closed in the fourth quarter of 2024. The company claims it is confident that it can complete the remaining financing steps in the coming months. The necessary permits for the construction and operation of the Guben facility have already been obtained.
