Rock Tech receives EUR 150 million in Letters of Support for Guben Converter
UK (UKEF) and Finish (FINNVERA) export credit agencies have expressed their interest to support the Guben Lithium Converter project with up to EUR 150 million in credit guarantees.
In addition to the proposed senior debt tranche from the European Investment Bank (EIB), Export Credit Agency (ECA) support represents a vital component of the debt financing structure for large-scale infrastructure projects like the Guben Converter.
Amidst market turmoil and Lithium price uncertainty Rock Tech's Guben Converter - a strategic project under the EU's Critical Raw Materials Act - remains the largest committed stand-alone Lithium refinery project in Europe.
TORONTO, May 21, 2025 /CNW/ - Rock Tech Lithium Inc. (TSX-V: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (the "Company" or "Rock Tech") is pleased to announce it has received up to EUR 150m in government-backed support from export credit agencies via conditional, non-binding expressions of interest. Specifically, UK Export Finance (UKEF) and the Finnish export credit agency (Finnvera) have expressed their interest to support the Guben Converter. In addition, discussions with further export credit agencies from Europe, Australia and China are ongoing to support the procurement of key equipment items from these countries. ECA support will be additional to the proposed European Investment Banks's (EIB) senior debt tranche of EUR 150 million (as announced by the Company in a previous press release).
"We welcome the strong backing from Export Credit Agencies in supporting the Guben Converter project. Their engagement reflects confidence in our vision, the business case and the strategic importance of this facility for Europe's green energy transition," says Chris Wright, Rock Tech's CFO.
In detail, the debt financing will benefit from the project's European sourcing scheme, making the project eligible for credit guarantees from major European export credit agencies. Large packages for supplies and services are to be contracted with business & procurement partners based in United Kingdom and Finland, and other EU countries. Subject to the due diligence being completed concurrently in accordance with their policies and applicable OECD consensus guidelines by the lending consortium and the ECAs, UKEF and Finnvera have expressed their initial interest in supporting the project via guarantees towards the lenders.
About the Guben Converter
The Guben Lithium Converter is a pioneering facility in Guben, Brandenburg, Germany, by the German-Canadian company Rock Tech Lithium Inc. This plant is set to become Europe's first commercial lithium hydroxide refinery, aiming to produce 24,000 tonnes of battery-grade lithium hydroxide annually—enough to supply over 500,000 electric vehicles per year.
Strategically located near major automotive and battery manufacturing hubs the Guben Converter is designed to strengthen Europe's battery supply chain by processing spodumene concentrate secured via leading trading partner C&D Logistics (Qingdao) Co., Ltd. The Converter will utilize advanced crystallization technologies, supplied by GEA Group AG, to ensure high-purity lithium production with minimal environmental impact. The leading international engineering firm Worley Ltd. has been selected as construction partner (EPCM) for the plant.
Recognized as a strategic project under the EU's Critical Raw Materials Act, the Guben Converter underscores Europe's commitment to securing essential materials for the energy transition. The project is expected to create approximately 200 jobs and represents a significant step toward regionalizing and decarbonizing the lithium supply chain in Europe.
On behalf of the Management
Mirco Wojnarowicz
CEO, Rock Tech Lithium Inc.
ABOUT ROCK TECH
Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100% recycling rate. To ensure resilient supply chains, the company plans to build lithium converters at the doorstep of its customers, beginning with the Company's proposed Lithium Hydroxide Converter in Guben, Brandenburg, Germany. The second Converter is planned to be built in Ontario, Canada. Rock Tech Lithium plans to source raw material from its own Georgia Lake spodumene project in the Thunder Bay Mining District of Ontario, Canada, and procure from other ESG-compliant mines. Ultimately, Rock Tech's goal is to create a closed-loop lithium production system. Rock Tech has gathered one of the strongest teams in the industry to close the most pressing gap in the clean mobility story. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process to increase efficiency and sustainability further.
CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to identify forward-looking statements. In particular, this news release contains forward-looking information pertaining to: the intended use of proceeds from the Offering and allocation thereof; listing of the Unit Shares on the TSX-V, including obtaining the final acceptance of the TSX-V; the results of the due diligence and decision of the ECA and EIB; discussions with strategic and financial investors to explore potential opportunities for investments directly at the project level, including the Company's converter projects in Germany and Canada and the Georgia Lake Project; and Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects, and plans and objectives of management for the Company's operations and properties. Forward-looking information is based on certain assumptions, estimates, expectations and opinions of the Company and, in certain cases, third party experts, that are believed by management of Rock Tech to be reasonable at the time they were made. Forward-looking information is derived utilizing numerous assumptions regarding, among other things: the satisfaction of the conditions to obtain final acceptance of the TSX-V approval for the listing of the Unit Shares on the TSX-V; the supply and demand for, deliveries of, and the level and volatility of prices of, feedstock and intermediate and final lithium products; that all required regulatory approvals and permits can be obtained on the necessary terms in a timely manner; expected growth, performance and business operations; future commodity prices and exchange rates; prospects, growth opportunities and financing available to the Company; general business and economic conditions; the costs and results of exploration, development and operating activities; Rock Tech's ability to procure supplies and other equipment necessary for its business; and the accuracy and reliability of technical data, forecasts, estimates and studies. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect and should not be read as a guarantee of future performance or results. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based. The forward-looking information contained herein is presented for the purposes of assisting readers in understanding Rock Tech's plans, objectives and goals and is not appropriate for any other purposes.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Cision Canada
3 hours ago
- Cision Canada
Canada reaffirms international collaboration with the European Space Agency Français
LONGUEUIL, QC, June 6, 2025 /CNW/ - Today, Sherry Romanado, Parliamentary Secretary to the Minister of National Defence, on behalf of the Honourable Mélanie Joly, Minister of Industry and Minister responsible for the Canadian Space Agency (CSA), joined CSA President Lisa Campbell and the Director General of the European Space Agency (ESA), Dr. Josef Aschbacher, at the John H. Chapman Space Centre (the CSA's headquarters in Longueuil). The two heads of space agencies signed a joint statement reaffirming Canada and ESA's unique, proven and productive partnership. This signature marks a key milestone in the mid-term review of the Canada–ESA Cooperation Agreement. For nearly 50 years, the Canada–ESA Cooperation Agreement has advanced Canadian innovation and expertise on the world stage. Canada's unique status as ESA's only non-European cooperating state gives Canadian companies privileged access to the European space market. Every dollar awarded to Canadian companies through ESA contracts generates nearly three dollars in return, benefitting Canadian businesses and injecting value into the Canadian economy. This collaboration helps Canada's space sector build long-term relationships with the European space community and contributes to strengthening innovation, competitiveness, and technological capabilities. It has propelled numerous Canadian organizations to the forefront of their fields, positioning Canadian expertise at the heart of bold international space missions. Dr. Aschbacher's visit to Canada was a unique and timely opportunity to underscore the deep ties between the space programs of Canada and Europe and to emphasize the shared commitment to fortifying their alliance in order to accelerate and grow their respective space sectors. As Canada looks to strengthen its ties with like-minded countries, including those in Europe, this longstanding partnership provides an opportunity and a proven path for Canada to bolster diversification of the space sector for the benefit of Canadians. Quotes "Today's signature is about reaffirming Canada's long-standing commitment to its collaboration with ESA, which has consistently yielded proven results for our Canadian space sector. As our focus is to unleash a new era of growth for our country, space represents the perfect domain to advance innovation and contributes to our goal of building a stronger Canada." — The Honourable Mélanie Joly, Minister of Industry and Minister responsible for the Canadian Space Agency "With this signature and the creation of the ESA–CSA task force, we are finding even more common synergies between ESA's activities and Canada's own priorities and strengthening the long-standing relationship between Europe and Canada. Canada's status as a non-European ESA cooperating state positions Canadian expertise – and industry – at the heart of bold international space missions. In today's geopolitical and economic environment, strong and reliable partnerships are more important than ever. ESA is proud to partner with Canada, and I look forward to our continued successes together." — Dr. Josef Aschbacher, Director General of the European Space Agency Quick facts Funded by the CSA, the Canada–ESA program allows Canadian organizations access to contracts related to ESA programs. Between January 2018 and December 2024, this collaboration led to 233 ESA-funded contracts to 82 Canadian entities, valued at approximately CAN$192 million. Behind these numbers is a growing network of Canadian talent and technology now woven into ESA's most advanced programs – from space robotics to next-generation communications. Canada and ESA have been collaborating in the space sector since the early 1970s. Formal cooperation began in 1979 with the signing of the first Cooperation Agreement. The Agreement has been renewed five times since (1984, 1989, 2000, 2012 and 2019). Dr. Josef Aschbacher's official visit to Canada took place from June 4 to 6, 2025. It included engagements with senior government officials and industry leaders in Ottawa and Montreal. Links SOURCE Canadian Space Agency
Cision Canada
6 hours ago
- Cision Canada
Haier's Strategic Partnership with Roland-Garros Enters Third Year, Driving Shared Values of Excellence
PARIS, June 6, 2025 /CNW/ -- As the 2025 Roland-Garros (French Open) enters its final stretch, the iconic clay courts of Paris are once again alive with the intensity and elegance that define the Grand Slam. At the heart of this prestigious tournament, Haier celebrates the third year of its strategic partnership with Roland-Garros, first launched in 2023. This enduring collaboration reflects a shared commitment to excellence, innovation, and resilience, values that resonate both on the court and across Haier's global vision for premium living. Forging Strength and Grace: A Shared Journey of Excellence While every Grand Slam tournament tests a player's determination and skill, Roland-Garros stands apart for its demand for finesse, resilience, and endurance on clay. Similarly, Haier's journey in building a global brand began in 1990 and it took 25 years of unwavering commitment to achieve financial self-balance in overseas markets, reflecting the endurance and long-term vision that define both sport and business. Beyond endurance, Roland-Garros stands as a beacon of global prestige and refined standards, while Haier has cultivated a reputation as a leading high-end brand in Europe. Together, they embody a powerful synergy of perseverance and sophistication on the global stage. Where Heritage Meets Innovation: Haier's Premium Presence in France As global momentum toward intelligent and sustainable innovation accelerates, the 2025 AI Action Summit in Paris exemplifies a shared international ambition for inclusive, energy-efficient, and human-centered technology. In this context, Haier continues to lead the way. In France, Haier's Langjing X11 washing machine exemplified its commitment, delivering 60% energy savings compared to Europe's rigorous A-class standards—a critical advantage amid rising energy concerns. With premium pricing (reflected in a price index of 275 in Poland and 375 in the UK), the Langjing X11 reinforces Haier's innovative, high-end positioning. In 2024, Haier achieved 47% brand awareness in France, highlighting its growing influence among discerning consumers. Strategic Expansion of Haier in Europe: Deep Roots and Localized Excellence The success of Haier in France is the result of a long-term commitment to deep localization and strategic expansion across Europe. Since entering Germany in the 1990s, Haier has built a strong and steady presence across the continent, driven by a consistent focus on innovation and user needs. At the core of the European growth of Haier is the 3-in-1 strategy (localized R&D, manufacturing, and marketing), enabling the brand to respond quickly and effectively to local demand. For instance, in the European market where air conditioner penetration remains below 5%, Haier introduced a smart air solution with simplified installation to meet local needs with precision and efficiency. The spirit of persistence and dedication to innovation, grounded in a deep understanding of local markets, has propelled the steady rise of Haier across multiple European countries. Haier continues to lead in Europe. This success story reflects the ongoing dedication of Haier to innovation and localization, anchored by the 3-in-1 strategy, which continues to drive its strong market presence and recognition, with brand awareness reaching approximately 30% across Europe in 2024. Haier ESG Commitment: Empowering a Greener, More Inclusive Future The partnership between Haier and Roland-Garros goes beyond the court and represents a shared commitment to promoting healthy lifestyles, advancing social responsibility, and creating sustainable value for communities across the globe. At Roland-Garros, Haier brought its ESG values to life through an immersive pop-up experience, showcasing its latest advancements in sustainable technology. Demonstrating a firm commitment to nurturing the next generation, Haier partnered with Open Stade Français to launch the "Haier Fans Cup", offering young winners the unique opportunity to attend the tournament and meet former WTA Number one champion Ana Ivanovic. Further reflecting its people-centric and innovation-driven approach, Haier France was awarded the Gold certification for Great Onboarding from Workelo, demonstrating its dedication to building a future-ready workplace. From homes to communities, from sustainable technologies to human-centered governance, Haier is setting a new standard for global brands.
Cision Canada
7 hours ago
- Cision Canada
/C O R R E C T I O N from Source -- Ario Khoshbin/
In the news release, Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium, issued 16-May-2025 by Ario Khoshbin over PR Newswire, we are advised by the source that the second paragraph has been updated. The complete, corrected release follows: Ario Khoshbin Files Oppression Lawsuit Following Removal as CEO of Prollenium TORONTO, May 16, 2025 /CNW/ - Ario Khoshbin, founder and former Chief Executive Officer of Prollenium Medical Technologies Inc., has commenced legal proceedings in the Ontario Superior Court of Justice Commercial List, against ArchiMed SAS, Panacea Holdings Inc., Prollenium Medical Technologies Inc., and related entities. The Statement of Claim includes allegations of shareholder oppression under the Canada Business Corporations Act, as well as breach of contract and wrongful dismissal. Mr. Khoshbin founded Prollenium in 2002 while still a university student. Over the next two decades, he developed the company into a global aesthetics business, with proprietary R&D, advanced manufacturing facilities, and distribution in over 80 countries. Prollenium is the only company manufacturing hyaluronic acid dermal fillers in North America and is the manufacturer of the globally recognized dermal filler brand Revanesse®. In 2021, Mr. Khoshbin sold a majority stake in the company to ArchiMed, a European private equity firm, while continuing in his role as CEO and remaining a significant minority shareholder and board director. In the Statement of Claim, Mr. Khoshbin alleges that following the acquisition, ArchiMed began operating the company in a manner that sidelined minority shareholders, focused on short-term financial objectives, and diverged from prior representations about long-term growth and innovation. The claim states that Mr. Khoshbin was gradually excluded from key governance decisions and was ultimately removed from his role without cause. The Statement of Claim alleges that Mr. Khoshbin did not voluntarily resign but was instead removed by board vote on April 4, 2025, contrary to public statements made by the Defendants at the time of Mr. Khoshbin's termination. The claim further alleges that Mr. Khoshbin's termination was not preceded by any formal performance process, and that he had expressed willingness to support an orderly transition. It also alleges that ArchiMed had pre-selected Walter Geiger, an operating partner at ARCHIMED SAS based in Zurich, as interim CEO prior to the meeting, and that he did not hold a Canadian work permit at the time of his appointment. The claim states that Mr. Geiger has been performing his duties from Prollenium's Richmond Hill facility. Following his removal, Mr. Khoshbin formally stepped down from the Board of Directors of Panacea Holdings. He continues to hold a 30% indirect ownership interest in the company and owns both of its core manufacturing facilities in Aurora and Richmond Hill, Ontario. "The opportunity to build Prollenium into what it is today has been the defining journey of my professional life," said Mr. Khoshbin. "My departure as CEO was abrupt and not by choice, but my commitment to the company's mission, legacy, its employees, and its long-term success remains unwavering." The Statement of Claim seeks various remedies, including a court-ordered buyout of Mr. Khoshbin's shares at fair market value, damages for wrongful dismissal, breach of contract, and reputational harm. The allegations have not yet been tested in court.
