- 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.
Through conditional, non-binding expressions of interest, export credit agencies have provided up to EUR 150m in government-backed support to Rock Tech Lithium Inc.. In particular, the Finnish export credit organization Finnvera and UK Export Finance (UKEF) have indicated an interest in supporting the Guben Converter. Additionally, talks are still going on with additional export credit organizations from China, Australia, and Europe to facilitate the purchase of essential equipment from these nations. According to a prior press release from the company, the proposed EUR 150 million senior debt tranche from the European Investment Banks (EIB) will receive additional support from ECA.
“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,” states Chris Wright, Rock Tech’s CFO.
The project’s European sourcing scheme will specifically benefit the debt financing, allowing the project to qualify for credit guarantees from significant European export credit agencies. Contracts for large packages of goods and services must be made with procurement and business partners situated in Finland, the United Kingdom, and other EU nations. UKEF and Finnvera have indicated their initial interest in supporting the project through guarantees to the lenders, provided that the lending consortium and the ECAs complete the due diligence concurrently in compliance with their policies and the relevant OECD consensus guidelines.
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.
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