REG - Alkemy Capital Invs. - First phase approval from the UK ATF

Alkemy Capital InvestmentsAnnouncement

24/01/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230124:nRSX6142Na&default-theme=true

RNS Number : 6142N  Alkemy Capital Investments PLC  24 January 2023

 

24 January 2023

 

Alkemy Capital Investments Plc

 

Tees Valley Lithium receives approval of its expression of interest from the
UK's Automotive Transformation Fund

 

 

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) and its
wholly-owned subsidiary Tees Valley Lithium Limited ("TVL") are pleased to
report that TVL's lithium hydroxide refinery at Teesside, UK has received
first phase approval from the UK Government's £1 billion Automotive
Transformation Fund ("ATF") which seeks to support the national transition to
Electric Vehicles.

 

HIGHLIGHTS

 

·    TVL has received approval of its expression of interest from the UK
Automotive Transport Fund.

 

·   The UK Automotive Transformation Fund is a funding programme created to
support large-scale industrialisation and will invest up to £1 billion to
develop a high-value end-to-end electrified automotive supply chain in the UK.

 

 

The ATF is a long-term programme designed to enable the UK to build the
world's most comprehensive and compelling electrified vehicle supply chain,
supporting over 160,000 jobs and creating export opportunities. It is an
iniative of the Advanced Propulsion Centre UK, which provides funding, support
and insight to help the nation's automotive industry transition towards a Net
Zero future.

 

TVL's world-class zero waste lithium hydroxide refinery will form a
significant component of the UK's transition to Electric Vehicles and is
expected to produce enough lithium hydroxide to supply 100% of the forecasted
automotive demand in the UK by 2030.

 

The project has been granted full planning permission from Redcar &
Cleveland Borough council and is now shovel ready with production forecast to
commence in 2025, generating over 1,000 local jobs.

 

By sourcing low carbon feedstock and powering an electrochemical refining
process with offshore wind and green hydrogen supplied by energy multinational
bp's HyGreen Teesside project, TVL aims to supply its UK and European
customers with the world's lowest-carbon lithium hydroxide.

 

Alkemy and TVL Director Sam Quinn commented:

 

"We welcome the first phase approval of our project proposal by the Automotive
Transformation Fund and look forward to working with the UK Government on the
development of our transformative lithium hydroxide project in Teesside, which
will be central to the transition to electric vehicles in the UK and an
important step on the journey to our Net Zero future."

 

 

Further information

 

For further information, please visit Alkemy's website:
www.alkemycapital.co.uk (http://www.alkemycapital.co.uk) or TVL's website
www.teesvalleylithium.co.uk (http://www.teesvalleylithium.co.uk) .

-Ends-

 

 Alkemy Capital Investments Plc    Tel: 0207 317 0636

 Sam Quinn                         info@alkemycapital.co.uk (mailto:info@alkemycapital.co.uk)

 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 (mailto:damon.heath@shardcapital.com)

                                   Tel: 0207 186 9927

 Isabella Pierre                   isabella.pierre@shardcapital.com (mailto:isabella.pierre@shardcapital.com)

 

 

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 with full planning permission at the Wilton
International Chemicals Park in Teesside, a major UK Freeport, to build the
UK's first and Europe's largest lithium hydroxide processing facility.

 

Tees Valley Lithium has completed a Class 4 Feasibility Study for its proposed
lithium hydroxide refinery 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.

 

Alkemy has also secured a site near 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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDDGGDBLSDDGXX