Rock Tech Lithium, a German-Canadian company, has received up to 100 million euros in subsidies from the Brandenburg state government for its lithium refinery project in Guben, Germany, after facing a funding setback from the German federal government earlier this year.
The approval from Brandenburg’s state government marks a significant milestone for Rock Tech Lithium, following final clearance for its lithium hydroxide converter in Guben. Dirk Harbecke, CEO of Rock Tech Lithium, described the state and federal grants as “a major milestone” towards realizing the Guben Converter, acknowledging the remaining steps needed for financing.
See also: Rock Tech Lithium Receives Final Approval for Lithium Hydroxide Converter in Guben
“We are targeting governmental financial support of up to 500 million Euros, including federal guarantees, to finalize financing for Guben in the coming months,” Harbecke affirmed.
Rock Tech Lithium plans to produce approximately 24,000 tons of battery-grade lithium hydroxide annually in Guben starting in 2025, with a goal to source 50 percent of raw materials from recycled batteries by 2030. Mercedes-Benz has already secured a substantial supply agreement for lithium hydroxide from the Guben facility.
See also: Rock Tech Lithium Denied Federal Funding, Seeks State Support for Lithium Converter Project in Guben
The project is expected to create around 160 jobs in Guben, where construction began in spring 2023 and received final environmental approval in June this year after a two-year approval process.
