Rock Tech Lithium intends to build a capacity to convert lithium hydroxide in Europe, which aims to turn the raw material of lithium from hard rock into a chemical commonly used in the battery industry.
“Today I signed, on behalf of the Romanian Government, an important memorandum. Following the signing of this document, Romania will enter the map of major manufacturers of components for batteries needed for the automotive industry. Two refineries will be built in Europe (one in Germany, one in Romania) that will produce the lithium powder needed for batteries, and lithium will be brought from Canada, a country that extracts the raw material that is useful for this type of industry. Thus, Romania will benefit from an investment of about EUR400 million and will benefit from new jobs because, as a result of this financing, a horizontal industry will be developed with many other investments. Even in PNRR we have financing possibilities for those who want to invest in Romania in the battery production cycle,” said Romania’s energy minister Virgil Popescu.
Dirk Harbecke, Chairman of the Board of Directors of Rock Tech Lithium, told a press conference on Monday that there will come a time when half of the cars sold globally will be electric. Harbecke pointed out that the car industry must have the necessary components, especially lithium-ion batteries, because Europe can achieve independence through these investments.
According to Harbecke, the future plant would create 500 direct and indirect jobs and the equipment will endow annually a total 500,000 electric cars.
Rock Tech Lithium announced in February 2022 that it was planning an investment in Germany in what it called “Europe’s first lithium refining plant,” a plant that will have the capacity to produce 24,000 metric tons of lithium hydroxide for batteries annually. The quantity is equivalent to the volume needed to equip 500,000 electric cars. Production in Germany is expected to start in 2024 in Germany. The Romanian factory will have a similar capacity. The factory will be located close to the Polish border.
Rock Tech Lithium has operations in Canada and Germany aimed at supplying lithium hydroxide to the automotive industry.