Greenfield investment agreement: Canadian company RockTech Lithium will invest 400 million Euros for a factory of electric car battery components

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By Andra Beltz
The government led by Nicolae Ciucă signed, on Monday, the memorandum of understanding with RockTech Lithium to build a factory in Romania. The Canadian company wants to invest 400 million euros in our country.
“In the presence of the Prime Minister of Romania, Nicolae Ionel Ciucă, the signing ceremony of the memorandum of understanding between the Government of Romania and the company RockTech Lithium for the development of an investment of 400 million euros in Romania takes place.
The factory that will be built in our country will produce raw materials, components of climate technology, lithium hydroxide for lithium-ion batteries for the automotive industry “, announced the spokesman of the Government, Dan Cărbunaru.
The memorandum was signed by the Minister of Energy, Virgil Popescu.
According to the memorandum, the company RockTech Lithium would build in Romania a factory for the production of raw materials/components of climate technology (lithium hydroxide).
“We operate a lithium mine in Canada and build lithium refineries and converters in Europe. Lithium is an essential component of battery cells. (…) In a few years, we will see that most cars sold in the EU will be fully electric vehicles
These days, we have seen the importance of Europe being independent in the supply of raw materials and the main components needed to make cars in the big car industries, “said RockTech Lithium President Dirk Harbecke.
“We are starting the construction of the first factory in Germany, on the border with Poland. We are now looking for a place for a second production unit. That is why we are here. We have been very active lately in Romania and we have analyzed several locations for this investment “, he added.
The company’s representative explained that 500 jobs will be created in Romania.
“We will produce enough lithium per year for almost 500,000 electric cars,” said Dirk Harbecke.
“I signed this memorandum today. We’ve been working on it for over a year. I have been in contact with the company since the last Government, led by Florin Cîţu, when this memorandum was approved.
Romania will enter the map of the big manufacturers of components for batteries (…) From here an industry can be developed horizontally, other new investments “, declared Virgil Popescu, Minister of Energy.
“In PNRR we have financing possibilities for investors who want to build, to invest in Romania in the battery production cycle. The Romanian government has promised in the European legal framework that it will grant state aid to investors who come to invest in Romania “, he added.
Rock Tech Lithium Inc. was founded in 1996 and is a lithium development company based in Canada. According to Reuters, the company 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. The company has operations in Canada and Germany aimed at supplying lithium hydroxide to the automotive industry. RockTech Lithium is listed on the TSX Venture and the Frankfurt Stock Exchange.
Rock Tech Lithium is a Vancouver-based German-Canadian company that extracts the raw material for lithium hydroxide from its Lake Georgia mining project in Ontario, Canada. A so-called “processing plant” is now to be built in the Lusatia region of Brandenburg to refine the resource, according to electrive.com.
In October, Rock Tech Lithium announced the construction of a lithium hydroxide battery production plant in Guben, Brandenburg, Germany – 60 kilometers from the Tesla plant in Grünheide. In full operation, the lithium hydroxide production plant for batteries (converter) is expected to produce 24,000 tons of lithium hydroxide per year for the batteries of 500,000 electric cars. The Rock Tech project is currently in an advanced stage of planning. The company estimates the volume of investments at about 470 million euros.
The production unit in Romania is to create 160 jobs, and the completion of the factory is planned for 2024. At the end of February, the company announced that it had submitted the necessary documentation for the first partial authorization for the construction of the factory.

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