Rock Tech Lithium to Invest EUR 400mln in a Factory in Romania
Rock Tech Lithium has signed a memorandum of understanding (MoU) in Romania to construct a €400 million factory to produce materials for lithium batteries used in electric cars.
Romanian Energy Minister Virgil Popescu mentioned that Romania will enter the map of large battery components manufacturers, after signing a MoU with Canada’s Rock Tech Lithium.
Virgil Popescu said he had signed on behalf of the Romanian Government this memorandum, which has been worked on since October last year. Therefore, Romania will benefit from an investment of about EUR 400 million and new jobs.
“I am very pleased that Romania will enter the map of large battery components manufacturers. Because, we must say, no battery can work without lithium. Basically, these refineries, these two refineries to be built in Europe, will make this lithium powder, one in Germany, one in Romania. Lithium is an energy resource. We are not talking at the moment of lithium exploitation, to probably anticipate a certain question from you about lithium exploitation in Romania, but we are talking about lithium brought from the mines in Canada,” the Energy Minister pointed out.
Dirk Harbecke, Chairman at Rock Tech Lithium, said 700 new jobs would be created after signing the memorandum, both directly and indirectly, currently looking for a location for the construction of the factory. The EU will widely use electric cars and Lithium-Ion batteries are needed. The factory is expected to produce lithium hydroxide annually for the batteries of 500,000 electric cars.
About Rock Tech Lithium
Rock Tech Lithium is a cleantech company with operations in Canada and Germany that aims to supply the automotive industry with high quality lithium hydroxide ‘made in Germany’. As early as 2024, the Company intends to commission Europe’s first lithium converter with a nameplate 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 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 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.
