Furthermore, lithium must be processed to lithium hydroxide in converters, which would ideally be located in Europe to ensure reliable and efficient access. However, currently, lithium hydroxide is largely sourced from Australia, Argentina, Chile, and China. Europe is far from meeting its own demand.
That being said, Rock Tech Lithium and the EU are not the only parties that realized the importance of building an efficient infrastructure., the U.S. Senate passed a bill that provides roughly $250 billion in funding for technological research and development and aims to oppose China’s growing influence.
“It is long past time that we [...] make generational investments in research and development and advanced manufacturing to help us grow critical industries and win the jobs of the future,”“It will empower us to discover, build, and enhance tomorrow’s most vital technologies — from artificial intelligence, to computer chips, to the lithium batteries used in smart devices and electric vehicles — right here in the United States,”In the recent past, big economic powers like the EU and the U.S.
With Rock Tech Lithium being in the process of setting up the first lithium converter in Europe and the U.S. having allocated $250 billion for technology research and development, this could be the turning point for the technology sector. The total global lithium demand isto over 400,000 tons in 2021, which is all the more reason for the EU to need companies like Rock Tech Lithium. If Europe doesn’t get its own lithium converters soon, it will be at the mercy of countries like China.
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