Deutsche Rohstoff AG: Dr. Axel C. Heitmann acquires Prime Lithium AG

Dr. Axel C. Heitmann acquires Prime Lithium AG

Deutsche Rohstoff has divested its stake in Prime Lithium AG to Dr. Axel C. Heitmann, CEO and current minority shareholder of the company.

In July 2024, Prime Lithium AG announced its capability to produce lithium of the highest purity from spodumene ore. The company has now completed planning for a pilot plant to produce battery-grade lithium for high-performance EV batteries.

Deutsche Rohstoff AG, which currently holds 85 percent of the shares, will withdraw from the company at the end of the first development phase. Dr. Axel C. Heitmann, former Lanxess CEO and driving force behind Prime Lithium, will take over the shares in addition to the 15 percent previously held by him and, thus, become the sole shareholder. The transfer of the shares will take effect as of 31 December 2024. The parties have agreed not to disclose the price and details of the agreement.

"I would like to thank Deutsche Rohstoff AG for their comprehensive support during the development phase of our new highly efficient and sustainable production process," says CEO Dr. Axel C. Heitmann.

"We are delighted with the development of Prime Lithium AG to date. We founded the company and funded the initial phase. With its technology, its highly motivated team and the site in Stade, the conditions are in place to develop the company into an important player in the European market for high-performance batteries, even in the current difficult phase of the lithium market," comments Jan-Philipp Weitz, CEO of Deutsche Rohstoff AG and Chairman of the Supervisory Board of Prime Lithium. "However, the company needs new investors for the upcoming phase of high investment. We have decided to focus on our capital-intensive core business."

Prime Lithium plans to begin construction of a modular high-tech pilot plant in Stade in the second quarter of 2025. The sustainable production process for high-quality lithium is to be tested there from 2027. All process steps will become even more resource-efficient and environmentally friendly. The final industrial-scale plant will benefit from the insights generated by the pilot plant operations. Talks with potential investors are already well-progressed. Following the successful development of a pioneering technological basis, the aim is to secure long-term financing for the entry into this prospective market, which is particularly important for Europe.

Mannheim, 18 December 2024