Rock Tech Lithium is apparently planning a Nasdaq IPO

lithium

The number of factories for processing the coveted raw material will increase significantly in the next few years.

(Photo: REUTERS)

Dusseldorf In order to raise enough capital to build its planned giant factories, the German-Canadian company Rock Tech Lithium is reportedly planning an IPO on the New York technology exchange Nasdaq. “A presence in the USA would make a lot of sense for us,” an insider confirms to the Handelsblatt. The preparations have already started, but a final decision will not be made until the next few weeks.

The Bloomberg news agency reported first. Rock Tech neither wanted to confirm nor deny the rumors at the request of the Handelsblatt.

Only last week the raw materials company announced the construction of a lithium factory in Brandenburg. Starting in 2024, around 24,000 tons of the white raw material will be processed there per year – enough for the construction of 500,000 electric cars. The demand was “gigantic”, said Rock Tech CEO Dirk Harbecke in an interview with the Handelsblatt. That’s why the company, headquartered in Vancouver, Canada, is planning to build not just a single lithium factory, but five. A new one should be added every year in Europe.

So far, however, the processing of the valuable raw material has taken place almost exclusively in China. Almost all so-called “converter factories” are in the Asian economy. But where the market leaders for battery cells from China, South Korea and Japan have long been building their own plants in Europe, the Chinese processors of lithium have so far held back.

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Before Rock Tech, only the Dutch company AMG has announced the construction of a converter so far. A lithium hydroxide plant is to be built in the Bitterfeld-Wolfen Chemical Park in 2023 – not far from the planned battery production facility by Daimler partner Farasis. It should start with a capacity of 20,000 tons annually.

Rock Tech starts production with a capacity of 24,000 tons. The German-Canadian mining company is investing almost half a billion euros in the construction of the ten-hectare converter. The necessary capital is now to come from the mine operator’s third IPO. Rock Tech shares are already traded on the Toronto and Frankfurt Stock Exchanges.

Capital increase also planned

At the same time, the company is planning a capital increase in the first half of 2022. “Before the construction of the planned converter in Brandenburg begins, the financing should be in place,” the Handelsblatt learned from well-informed circles. The lithium specialist is unlikely to have any problems collecting enough money to build the planned factory.

Investors so far include star investor Peter Thiel, Christian Angermayer and hedge fund billionaire Alan Howard. Rock Tech also recently hired ex-BMW CFO Stefan Krause as CFO.

In view of the demand from the e-car segment, the lithium price has more than doubled compared to the previous year. According to Bloomberg NEF, global consumption of battery metal is expected to increase fivefold by 2030.

More: Raw material for 500,000 electric cars annually – Europe’s largest lithium factory comes to Brandenburg.

Handelsblatt Energy Briefing

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