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REG - Alkemy Capital Invs. - Appointment of Lead Engineering Partner

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RNS Number : 5961F  Alkemy Capital Investments PLC  08 November 2022

 

8 November 2022

 

Alkemy Capital Investments Plc

 

Wave International appointed as Lead Engineering and Technical Partner for
TVL's Lithium Hydroxide Facility in Teesside

 

 

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) is pleased to
announce that its wholly owned subsidiary Tees Valley Lithium Ltd ("TVL") has
appointed international engineering firm Wave International ("Wave") as its
Lead Engineering and Technical Partner for the development of its Teesside
lithium hydroxide processing facility in NE England.

 

HIGHLIGHTS

·    Wave is a specialist engineering firm, with industry-leading lithium
expertise and a proven track record in the study, design and construction of
lithium hydroxide processing facilities.

·   Wave has already completed a Class 4 engineering study and verified
testwork by third party cathode active material manufacturers for TVL's UK
refinery.

·   Wave will project manage and lead the oversight and development of
FEED, EPCM work and Electrochemical Process Development, facilitating TVL's
fast track schedule.

·   TVL is aiming to produce the world's lowest carbon lithium hydroxide by
sourcing low carbon feedstock and powering an electrochemical process with
offshore wind and green hydrogen.

Wave is a specialist engineering firm, with over 20 years of industry-leading
lithium development expertise and a unique track record in the study, design,
commissioning and operation of lithium chemical refineries.

Wave will bring to TVL its extensive experience gained from having developed
similar major lithium hydroxide facilities in Australia. This critical
experience will help de-risk TVL in establishing its first trains and
pioneering a new lithium refining industry in the UK.

Wave recently completed a Class 4 engineering study for TVL's UK refinery and
has overseen testwork, verified by third party cathode active material
manufacturers, that confirms TVL's ultra-pure battery grade lithium hydroxide.
 

TVL and Wave will now look to fast track the development of TVL's lithium
hydroxide processing facility with the initial focus being on Front End
Engineering Design (FEED), the formation of an Engineering, Procurement and
Construction Management (EPCM) team for train 1 and the continued development
of the electrochemical process route.

TVL is moving quickly to establish Europe's first and largest lithium
hydroxide processing hub at Teesside in the North East of England.

By utilising a state of the art electrochemical route powered by low-cost
green energy, TVL will be supplying the UK and Europe with 96,000tpa of
low-carbon, battery grade lithium hydroxide - equivalent to 15% of European
demand.

Since February, TVL has announced a site location, released a Class 4
Feasibility Study with testwork validated by cathode active material
manufacturers and signed partnership agreements with global metals trader
Traxys and local lithium producer Weardale Lithium, in addition to one of the
world's largest energy mulinationals, bp.

TVL continues to make great strides on multiple fronts and looks forward to
providing the market with updates on further developments in the coming weeks.

Ryan Hanrahan, Director and CEO of Wave International commented:

"We are delighted to be working with the Alkemy and TVL team over the past
year to bring this outstanding lithium refinery project to where it is today.
The Board and management of the company have a clear and precise strategy, and
we share a common view and enthusiasm for the energy transition.

Combining Alkemy and TVL's vision with Wave's industry leading experience and
innovative approach to project delivery, gives rise to a truly exciting
project and investment opportunity."

Sam Quinn, Director of Alkemy commented:

"Alkemy and Tees Valley Lithium are delighted to be partnering with Wave as
the company's primary consultant for the Teesside refinery at this critical
point in our evolution. Ryan and the team have done an exceptional job on the
Class 4 engineering study and will continue to do so on our other key
workstreams as we develop, finance and construct our project.

TVL is moving rapidly towards becoming the world's first independent and
sustainable solution for lithium refining and preparations are now well
advanced for activities on the ground to commence imminently."

Extension of Exclusivity Agreement for Site at Wilton International

 

TVL announces that further to its Corporate Update on 29 September 2022, the
exclusivity period with Sembcorp Energy UK has been extended by the parties
until 16 December 2022 to facilitate ongoing discussions with the aim of
concluding legal documentation for the Agreement to Lease at Wilton
International by that date.

 

 

Further information

For further information, please visit Alkemy's website:
www.alkemycapital.co.uk (about%3Ablank) or TVL's website
www.teesvalleylithium.co.uk (about%3Ablank) .

-Ends-

 

 Alkemy Capital Investments Plc    Tel: 0207 317 0636

 Sam Quinn                         info@alkemycapital.co.uk (about%3Ablank)

 Buchanan                          Tel: +44 (0)20 7466 5000

 Oonagh Reidy/Abigail Gilchrist    TVL@buchanan.uk.com (about%3Ablank)

 VSA Capital Limited               Tel: 0203 005 5000

 Andrew Monk (Corporate Broking)

 Andrew Raca (Corporate Finance)

 Shard Capital Partners LLP        Tel: 0207 186 9952

 Damon Heath                       damon.heath@shardcapital.com (about%3Ablank)

                                   Tel: 0207 186 9927

 Isabella Pierre                   isabella.pierre@shardcapital.com (about%3Ablank)

 

 

 

NOTES TO EDITORS

 

Alkemy is seeking to establish the world's leading independent and sustainable
lithium hydroxide production by developing state-of-the-art Lithium Sulphate
and Lithium Hydroxide facilities in Australia and the UK.

 

Alkemy, through its wholly-owned subsidiary Tees Valley Lithium, has secured a
9.6 ha brownfields site at the Wilton International Chemicals Park located in
Teesside, a major UK Freeport to build Europe's first and largest Lithium
Hydroxide processing facility.

 

Alkemy has completed a Class 4 Feasibility Study for its proposed lithium
hydroxide facility which will process feedstock imported from various sources
to produce 96,000 tonnes of premium, low-carbon lithium hydroxide annually,
representing around 15% of Europe's projected demand.

 

The company has identified a site at Port Hedland, Western Australia to build
a world-class sustainable Lithium Sulphate refinery that will provide reliable
feedstock for Tees Valley Lithium.

 

 

Forward Looking Statements

 

This news release contains forward‐looking information. The statements are
based on reasonable assumptions and expectations of management and Alkemy
provides no assurance that actual events will meet management's expectations.
In certain cases, forward‐looking information may be identified by such
terms as "anticipates", "believes", "could", "estimates", "expects", "may",
"shall", "will", or "would". Although Alkemy believes the expectations
expressed in such forward‐looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and
actual results or developments may differ materially from those projected.
Mining exploration and development is an inherently risky business. In
addition, factors that could cause actual events to differ materially from the
forward-looking information stated herein include any factors which affect
decisions to pursue mineral exploration on the relevant property and the
ultimate exercise of option rights, which may include changes in market
conditions, changes in metal prices, general economic and political
conditions, environmental risks, and community and non-governmental actions.
Such factors will also affect whether Alkemy will ultimately receive the
benefits anticipated pursuant to relevant agreements. This list is not
exhaustive of the factors that may affect any of the forward‐looking
statements. These and other factors should be considered carefully and readers
should not place undue reliance on forward-looking information.

 

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