REG - Alkemy Capital Invs. - TVL Accelerates Lithium Supply With BritishVolt

Alkemy Capital InvestmentsAnnouncement

01/03/2023 07:00

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RNS Number : 4241R  Alkemy Capital Investments PLC  01 March 2023

 

1 March 2023

 

Alkemy Capital Investments Plc

 

Recharge Industries Completes the Acquisition of Britishvolt

Tees Valley Lithium to advance negotiations to conclude a binding lithium
offtake

 

 

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) and its
wholly-owned subsidiary Tees Valley Lithium Limited ("TVL") are pleased to
provide an update on Recharge Industries Pty Ltd's ("Recharge") acquisition of
Britishvolt.

 

HIGHLIGHTS

 

·   Recharge, an Australian Lithium-ion battery company, has now completed
on the acquisition of Britishvolt, a planned £3.8 billlion Lithium-ion
Gigafactory in Northern England

 

·    TVL and Recharge have signed an MOU and will now seek to to negotiate
and finalise a definitive offtake agreement to supply tolled low-carbon
lithium hydroxide into Recharge's qualified supply chain and to potentially
jointly source spodumene for TVL's processing facilities

 

·    Recharge is currently developing Australia's first large-scale
lithium-ion cell production facility in Geelong, Australia.

 

Further to TVL's announcement on 7 February 2023 confirming that TVL had
entered into an MOU with Recharge to supply lithium hydroxide, it is noted as
reported in the national press that Recharge has now successfully completed
the acquisition of Britishvolt, a £3.8 billion Gigafactory planned to be
built in Blyth in Northumberland.

 

Under plans presented by Recharge, the Britishvolt project will be the UK's
first Gigafactory, creating a strategic economic and security asset which will
play a critical role in the UK's industrial and net zero strategies.
Britishvolt will provide thousands of green, skilled and local jobs that will
drive local and national benefits.

 

Under its MOU with Recharge, TVL has agreed to supply tolled lithium hydroxide
to Britishvolt from its facility in Teesside. Both companies will continue
good-faith negotiations, with the  aim of concluding a definitive offtake and
supply agreement.

 

In addition, both TVL and Recharge have agreed to work together to jointly
source lithium spodumene to be used in TVL's refinery in Port Hedland, Western
Australia for conversion to lithium suphate to be shipped to Teesside, UK for
conversion into lithium hydroxide.

 

Recharge is backed by New York based investment firm Scale Facilitation and is
currently in the process of building a gigafactory at Avalon near Geelong,
Australia and is also involved in battery technology research and development.

 

TVL's world-class zero waste lithium hydroxide refinery in Teesside, UK 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.

 

Recharge Founder David A. Collard commented:

 

"Following our successful acquisition of Britishvolt, we look forward to
concluding our negotiations with TVL to deliver high quality battery grade
Lithium Hydroxide into our supply chain. These negotiations are supported by
the work already being done by Recharge to secure Spodumene supply as feed
stock to TVL's Port Hedland Lithium Sulphate plant."

 

Alkemy and TVL Director Sam Quinn commented:

 

"We are delighted that Recharge Industries has now successfully concluded the
purchase of Britishvolt, a project of significant national importance and one
that is critical for establishing the UK's battery cell supply chain. We look
forward to working with Recharge and Britishvolt on playing our part in
transitioning the UK to a low-carbon and low-emissions future through the
development of onshore UK facilities in the EV and battery cell supply chain."

 

 

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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