REG - Alkemy Capital Invs. - MOU with Altilium Metals for lithium feedstock

Alkemy Capital InvestmentsAnnouncement

26/04/2023 08:00

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RNS Number : 4507X  Alkemy Capital Investments PLC  26 April 2023

 

 

 

26 April 2023

 

Alkemy Capital Investments Plc

 

MOU with Altilium Metals for lithium sulphate feedstock and lithium hydroxide
offtake

 

 

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 has entered into an MOU with Altilium Metals Limited.

 

HIGHLIGHTS

 

·    Altilium Metals is a UK based clean tech group whose planned battery
recycling facility in Teesside will have capacity to process scrap from
150,000 EVs and to produce 30,000 tonnes of Cathode Active Material per year,
enough to power 20% of new EVs produced in the UK by 2030, making it one of
the largest in Europe

 

·    TVL and Altilium Metals have agreed to collaborate on the supply of
lithium sulphate feedstock to TVL from Altilium Metals' battery recycling
facility and will also investigate the supply by TVL of lithium hydroxide for
Altilium Metals' planned Cathode Active Materials production facility, also in
Teesside

 

·   TVL and Altilium Metals will also work together to source further
lithium feedstock and to collaborate to ensure a sustainable and robust
battery supply chain of Cathode Active Materials to the North East of the UK

 

 

Altilium Metals, a clean energy group focused on supporting the transition to
net zero, and TVL, developers of the UK's first and Europe's largest lithium
hydroxide processing facility, have entered into a MOU which will see the two
companies collaborate to establish a sustainable and robust supply chain of
critical battery minerals in the North East of England.

 

Under the terms of the MOU, TVL will investigate the supply of lithium
hydroxide to Altilium Metals' planned cathode active materials ("CAM")
production facility in Teesside. There it will be combined with critical
metals recovered from end-of-life batteries and gigafactory scrap to produce
CAM, the key component in the production of lithium-ion batteries, giving full
battery circularity.

 

TVL's processing hub at the Wilton International Chemicals Park is in close
proximity to Altilium Metals' planned battery recycling facility, also located
in Teesside, that will have capacity to process scrap from over 150,000 EVs
per year, making it one of the largest in Europe and the only one of its kind
in the UK.

 

The two companies will also collaborate on the supply of lithium sulphate
recovered from battery waste to TVL's refinery.

 

By sourcing raw materials recovered from battery waste in the UK, TVL will
further reduce the carbon footprint of its refinery, by reducing its reliance
on imported feedstocks. According to recent analysis by McKinsey, the carbon
emissions of recycled battery materials are about four times lower than for
newly mined battery materials. TVL aims to supply its UK and European
customers with the world's lowest-carbon lithium hydroxide.

 

TVL plans to produce 96,000 tonnes of premium, low-carbon lithium hydroxide
annually at its processing hub in Teesside. The refinery, which has been
granted full planning permission, was recently highlighted by the UK's
Critical Minerals Association as a project of strategic importance in the UK
critical minerals midstream processing and refining sector.

 

In a further boost to the sustainability of both facilities, Altilium Metals
plans to reuse waste sulphuric acid produced at TVL's refinery to extract
lithium and other critical metals from battery waste at its hydrometallurgical
recycling facility.

 

The companies will also work together to source the lithium feedstock required
to produce the balance of Altilium Metals' needs at its Teesside recycling
facility. Designed by Hatch, the plant is designed to process a mix of
different battery chemistries, including LCO, LFP and NMC, and multiple
feedstocks, including gigafactory scrap and primary raw materials.

 

The two Teesside-based facilities look set to play a significant role in the
UK's transition to electric vehicles and the development of a secure and
sustainable domestic supply chain for lithium. TVL's refinery is expected to
produce enough lithium hydroxide to supply 100% of the forecasted automotive
demand in the UK by 2030.

 

Altilium Metals' planned recycling plant will produce 30,000 tonnes of CAM a
year - enough to power 20% of new EVs produced in the UK by 2030.

Altilium Metals CTO, Dr Christian Marston, commented:

"We look forward to working with our neighbour in Teesside on a domestic,
sustainable and low carbon source of critical minerals for a UK electrified
supply chain, supporting directly the UK's net zero ambitions and its energy
security."

 

Sam Quinn, Director of Tees Valley Lithium, commented:

 

"We are delighted to be collaborating with Altilium Metals and our respective
Teesside facilities will play a significant role in the UK's transition to EVs
and in the development of a UK domestic lithium supply chain.

 

TVL aims to supply its UK and European customers with the world's
lowest-carbon lithium hydroxide and by sourcing lithium feedstock materials
recovered from battery waste in the UK, TVL will further reduce the carbon
footprint of its refinery."

About Altilium Metals

Altilium Metals is a UK based clean tech group that will reshape the UK and
European automotive supply chain by offering high volume, domestic and low
carbon sources of cathode and anode materials from recycling waste streams
already in circulation, such as mining waste and end-of-life batteries.

 

In 2022, the company opened its Electric Vehicle Battery Technology Centre in
Devon, to deepen and strengthen its competitive edge in the recycling of
lithium-ion batteries. The scale-up processing line will provide the company
with data to make informed decisions on materials handling, scalability and
product quality at its planned Teesside recycling plant. It also owns a SX-EW
hydrometallurgical plant on the largest copper mine waste resource in Eastern
Europe and is currently developing that facility to recycle battery waste from
24,000 EVs starting end of 2023.

 

For more information go to www.altilium-metals.com
(http://www.altilium-metals.com)

 

 

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.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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