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Rock Tech to receive up to 100 million EUR in direct grants for its German Lithium refinery. Funding to be provided by the State of Brandenburg and the German Railway Authority. Further applications for federal guarantees ongoing.
Rock Tech to receive up to 100 million EUR in direct grants for its German Lithium refinery. Fund...
About this update from Rock Tech Lithium Inc.
[{"type":"text","content":"\n \n \n \n Rock Tech to receive up to 100 million EUR in direct grants for its German Lithium refinery. Funding to be provided by the State of Brandenburg and the German Railway Authority. Further applications for federal guarantees ongoing.\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Brandenburg's Ministry for Economic Affairs, Labour and Energy has issued an LOI committing up to\n \n 90 million EUR\n \n in grants for Rock Tech's Lithium Converter in Guben.\n \n \n \n \n \n \n Additionally, the Federal German Railway Authority (Eisenbahnbundesamt\n \n \n ) has offered the prospect of up to\n \n 10 million EUR\n \n of public funding to support the construction of train loading and unloading infrastructure.\n \n \n \n \n \n \n The subsides will be paid out over the construction period as non-dilutive equity grants. Payout is contingent on finalization of full equity and debt financing.\n \n \n \n \n \n \n In addition, the application process for up to 400 million EUR of federal guarantees to support Rock Tech's debt financing\n \n \n is ongoing.\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n June 27, 2024\n \n \n /CNW/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) (\"Rock Tech\" or the \"Company\") is pleased to announce that it has received a binding letter of intent (LOI) signed by the Minister for Economic Affairs in\n \n Brandenburg\n \n ,\n \n Joerg Steinbach\n \n , for the grant of up to\n \n 90 million Euros\n \n in subsidies for the Guben Project. In addition, the Company is pleased to announce that its application for federal funding from the German Railway Authority is progressing well and is expected to lead to a contribution of another\n \n 10 million Euros\n \n in grants. This funding is expected to be provided under the \"Anschlussbahnförderung\" and will support the company's ambition to shift transports from road to rail, a crucial component of the project's logistics concept.\n \n \n \n \n \n \n \n \n \n Rock Tech's CEO\n \n Dirk Harbecke\n \n comm...