(TheNewswire)
Vancouver, BC, Canada - TheNewswire - November 12, 2020 - Rock Tech Lithium Inc. (the"Company" or "Rock Tech") (TSXV:RCK ) (OTC: RCKTF ) ( Frankfurt:RJIB) is pleased to announce that it haslodged a patent application with the European Patent Office for a newand innovative lithium hydroxide manufacturing process.
The so-called Nitrate Process has been developed in cooperation withProf. Dr. em. Wolfgang Voigt from TU Bergakademie Freiberg / Germanyand aims to replace the Sulphate Process which is currently used inmost operating lithium converters worldwide.
In comparison to the Sulphate Process, the Nitrate Process presentstwo key advantages:
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- The crystallization step of lithium hydroxide in the Nitrate Processdoes not require temperatures around negative 10 degrees Celsius.Instead it is carried out at higher temperatures, resulting insubstantial energy savings potential.
- Gypsum and nitrate compounds are produced as by-products which areexpected to generate higher value revenue streams than the SodiumSulphate by-product from the Sulphate Process.
Rock Tech has successfully produced battery-grade lithium hydroxide ona lab-scale basis and intends to prove the industrial scalability andeconomic benefits of its proprietary flowsheet as part of the upcomingconverter pre-feasibility study targeted for completion in mid-2021.
The by-products from the lithium conversion can have a significantimpact on the overall cost of production for lithium hydroxide.
The Company considers the price outlook for Sodium Sulphate to benegative. Increasing by-product production from conventional lithiumhydroxide converters will hit a shrinking market as the mainconsumers, like the detergents and wood pulp industry, are switchingto substitutes. There is an increasing risk that the market will notbe able to absorb all the Sodium Sulphate produced. In that case,substantial disposal costs will be foisted upon lithium producers asSodium Sulphate cannot be stored in standard disposal facilities dueto its high solubility in water.
Nitrate compounds, on the other hand, are very sought-after fertilizercompounds and the supply of gypsum is set to drastically decrease(particularly in Germany) over the next two decades due to thescheduled phase-out of lignite-fired power plants.
The patent application was lodged with the European Patent Office,meaning that - if granted in all designated states - the patent wouldbe applicable within the EU countries, Turkey, and Switzerland for 20years. Within the usual 12 months priority period Rock Tech can decideon whether an international patent application is filed.
"We are very excited about this patent application since it showsthat Rock Tech is very dedicated to becoming a lithium technologycompany. It is a testimony of our team's capabilities and we willcontinue to grow it over the coming months. It is very clear thatcontinuous innovation will be key for bringing down costs for lithiumchemicals and consequently EV's whilst maintaining healthymargins," said Simon Bodensteiner, the Company's Chief ExecutiveOfficer.
On behalf of the Board of Directors,
"SimonBodensteiner"
Simon Bodensteiner
Director, Chief Executive Officer
For further information, pleasecontact:
Brad Barnett
Chief Financial Officer
Rock Tech Lithium Inc.
777 Hornby Street, Suite 600
Vancouver, B.C., V6Z 1S4
Telephone: (778) 358-5200
Facsimile: (604) 670-0033
Email: bbarnett@rocktechlithium.com
Neither TSX Venture Exchange nor its RegulationServices Provider (as that term is defined in the policies of the TSXVenture Exchange) accepts responsibility for the adequacy or accuracyof this release.
Statements included in this announcement, includingstatements concerning our plans, intentions and expectations, whichare not historical in nature are intended to be, and are herebyidentified as, "forward - looking statements". Forward - looking statements may be identifiedby words including "anticipates", "believes","intends", "estimates", "expects" andsimilar expressions. The Company cautions readers thatforward - lookingstatements, including without limitation those relating to theCompany's future operations and business prospects, are subject tocertain risks and uncertainties that could cause actual results todiffer materially from those indicated in the forward - looking statements.
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