REG - Alkemy Capital Invs. - TVL and bp trial Green Hydrogen

Alkemy Capital InvestmentsAnnouncement

12/10/2022 09:30

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RNS Number : 6312C  Alkemy Capital Investments PLC  12 October 2022

 

12 October 2022

 

Alkemy Capital Investments Plc

 

Tees Valley Lithium partners with bp to trial green hydrogen in lithium
process

 

 

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) is pleased to
announce that its wholly owned subsidiary Tees Valley Lithium Ltd ("TVL") has
entered into a Memorandum of Understanding ("MOU") with bp Alternative Energy
Investments Limited ("bp"), a member of the bp plc group of companies, which
is focussed on the development of its large green-hydrogen electrolytic
production facility in Teesside (HyGreen Teesside).

 

HIGHLIGHTS

·    bp will seek to supply green hydrogen to TVL as part of its HyGreen
Teesside project, which is currently under development

·    TVL to partner with bp to evaluate the feasibility of further
decarbonising TVL's processes and energy requirements via a switch from
natural gas to green hydrogen

·    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

 

Following a preliminary review, bp and TVL consider there to be significant
potential to further decarbonise TVL's process with the use of green hydrogen,
that bp plans to produce at it proposed Hygreen Facility in Teesside.

The MOU proposes a broad-based collaboration between bp and TVL to jointly
evaluate TVL's  processes and energy requirements with the aim of
decarboninsing these via a switch of fuel from natural gas to green hydrogen.

More than 700GW of gigafactories are planned for construction across Europe,
which will require over 325,000 tonnes of Lithium Hydroxide and 325,000 tonnes
of Lithium Carbonate per annum: currently there is zero Lithium Hydroxide
capacity in Europe.

Construction of Train 1 of TVL's Lithium Hydroxide processing facility at the
Wilton International Chemicals Park in Teesside UK, the first of four trains
planned for the site, will produce 24,000 tpa of battery-grade LHM. Once
completed, all four trains will produce a total of 96,000 tpa LHM,
representing around 15% of Europe's projected demand by 2030. TVL's innovative
electrochemical process allows the flexibility to divert 20% of the refinery's
production capacity to produce lithium carbonate.

By sourcing low carbon feedstock and powering an electrochemical process with
offshore wind and green hydrogen, TVL is aiming to supply its customers with
the world's lowest-carbon Lithium Hydroxide.

Louise Kingham, bp's UK Head of Country and Senior Vice President of Europe,
commented:

"Our agreement with Tees Valley Lithium has great potential to support its
exciting aim of supplying its customers with the world's lowest-carbon lithium
hydroxide. It reflects the strong support we've already had from customers,
who see HyGreen Teesside as the best way to decarbonise their operations.

The project will help transform local energy use, the local economy and skills
development in the community. It will also help us deliver economic growth and
the home-grown hydrogen that the UK needs."

John Walker, CEO of Tees Valley Lithium, commented:

"Tees Valley Lithium is delighted to be partnering with bp in this initiative,
which will seek to further decarbonise TVL's Lithium Hydroxide production at
the Wilton International Chemicals Park, in Teesside, UK.

"TVL will source high value intermediate lithium products with a low embedded
carbon footprint from around the world, and will provide customers in the UK
and Europe with an independent and sustainable supply of low-carbon
battery-grade Lithium Hydroxide and Lithium Carbonate."

 

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

 Bobby Morse/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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