Rock Tech will start building German facility in April

Rock Tech will start building German facility in April ...

BERLIN, December 22 - Canada's RockTech Lithium is looking at the start of its first lithium-ton producer and production in April - his chief executive said.

The talks on the supply of the plant are still ongoing, says Dirk Harbecke on Wednesday.

The company announced in October that it planned to build a mill in the eastern town of Guben, a half-minute drive from where Tesla built its gigafactory. There are also several batteries to keep on producing at a cost of 50 gigawatt hours.

Considering the fact that Rock Tech is going to enter production in 2024, it will make a total of 24,000 tons of lithium hydroxide in one year. The cost of providing lithium batteries with 500,000 cars.

Harbecke is expecting Rock Tech Lithium to raise 150 million euros itself. The company said earlier this week it wanted to raise up to around $40 million in a private placement with US and international investors.

Several carmakers and battery-cell players, including Volkswagen, China's CATL and Tesla, are expanding production campacity in Europe's top economy with financial resources and accelerating the progress of a mass ion roll-out of electric vehicles.

"We talk to major players, carmakers and cathode producers," Harbecke said about potential customers at the Guben facility.

(one dollar = 1 888,49 euros)

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