Rock Tech hires Ex-BMW CFO Stefan Krause as its Vice-Chairman

Stefan Krause

Rock Tech, a leading lithium exploration, and development company have appointed Stefan Krause as its Vice-Chairman and member of the Board of Directors. Krause is the former CFO (Chief Financial Officer) for BMW and has broad experience in the automotive industry. He also held the position of CFO at Deutsche Bank and key positions for e-mobility start-up companies such as Faraday Future, Frisker, and Canoo.

E-mobility is short for electric-mobility, which refers to the electronic propulsion of vehicles using in-vehicle information, powertrain, and communications technologies. E-mobility technologies are vital to the growth of the electric vehicle industry. Krause also served as the Chief Investment and Financial Officer in Europe for a SPAC (Special Purpose Holding Company) transactions company named Levere Holdings.

The Chairman of Rock Tech, Dirk Harbecke, shared his enthusiasm for the appointment of Krause in a key role for the company. According to Harbecke, the extensive experience of Stefan Krause in the financial and automotive sectors makes him an “invaluable addition” to Rock Tech. In particular, Harbecke is looking forward to utilizing Krause’s knowledge and experience in electric mobility and battery tech, to propel Rock Tech forward.

Harbecke further added that there has been a huge shift in the automotive industry towards e-mobility technologies, and Krause will be an “excellent asset” for the company. Krause has replaced Brad Barnett on the board at Rock Tech. Barnett resigned from his seat to facilitate the addition of Krause to the board.

Sharing his views on the appointment, Krause is “honored and pleased” to be part of Rock Tech, and he believes Rock Tech is in a great position to become the leading partner and supplier of lithium to European automotive companies. Automotive manufacturers want to be part of the clean energy initiatives that have become a burgeoning trend in the automotive industry.

According to Stefan Krause, auto manufacturers want to use clean energy technologies for all automotive components, so they have a completely clean energy story for investors and customers. With Krause on board, it is an indicator that Rock Tech will focus its resources on becoming a key player in the lithium industry in Europe. Rock Tech produces the majority of its lithium products in Canada, and is now looking to increase production from 2023.

One of the goals of Rock Tech is to be fully prepared to capitalize on the huge shift in the automotive industry towards e-mobility technology in Europe. As part of this preparation, Rock Tech wants to establish an integrated lithium business. There has been a push by the EU to promote electric technologies for the automotive industry as part of their targets for decarbonizing transport and meeting their climate goals.

As part of the announcement, Rock Tech also shared that it has granted 505,000 stocks to its employees, directors, and consultants. The stock options stand at the price of $4.42 at the time of the announcement. 375,000 of the stocks will be vested immediately upon grant, while the remaining stocks will be vesting according to a schedule shared by Rock Tech. There will be 50% stock options vested one after one year, and the remaining 50% will be vested at the two-year mark.

About Rock Tech

Rock Tech was founded in 1996 and is based out of Vancouver, Canada. Rock Tech is focused on bridging the gap between the huge surge in demand for lithium supply in Europe and the resource-rich Canada. The surge in demand for lithium has primarily resulted in the increase in production and demand for electric vehicles in the West.

Rock Tech wholly owns raw material feedstocks in Ontario, Canada. One of the core focus of Rock Tech is to have mining-friendly operations and produce the cleanest sources of lithium in the world. Along with the production of sustainable lithium in Canada, Rock Tech has also established the first-ever lithium hydroxide convertor in Europe. The lithium converter is expected to become operational in 2023. As the first of its kind, it could be a game-changer for the electric-vehicle industry in Europe. The management team at Rock Tech is a diverse group of industry experts and entrepreneurs, who are passionate and committed to providing the automotive world with sustainable and cleaner energy.

About Stefan Krause

Stefan Krause is one of the automotive industry disruptors who has changed how people think about cars. He has worked with several automotive companies including BMW Group, where he was served as their youngest CFO ever. Krause is particularly interested, passionate, and highly experienced in electric-mobility technologies for automobiles. From large automotive companies such as BMW to innovative start-ups such as Faraday Future and Canoo, Krause has gathered invaluable industry and functional experience. He also worked for Deutsche Bank as CFO and gained valuable insights into the financial sector.

Krause has also served on the boards of DAX Company Management Boards. Along with a diverse industry experience, Krause has also had a chance to work in different work environments and cultures, including the USA, Germany, UK, and Japan. He has a natural curiosity for different languages, diversity, and cultures. His expertise in the automotive and financial industry has allowed Krause to be part of several boards including those for Allianz AG, BHF Bank, Rocket Internet, Velo3d, Niiio, Wiesmann Automotive, and most recently, Rock Tech. Krause has a Master in Business Administration (MBA) from The Julius Maximilian University of Wuerzburg.

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Stefan Krause

Stefan Krause

Stefan Krause has more than three decades of experience serving as CFO at notable brands such as BMW and Rolls Royce.