REG - Alkemy Capital Invs. - TVL and Glencore Sign Binding Offtake Agreement

Alkemy Capital InvestmentsAnnouncement

28/01/2026 09:45

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RNS Number : 7274Q  Alkemy Capital Investments PLC  28 January 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE
MARKET ABUSE REGULATION NO. 596/2014 ("MAR") AS IN FORCE IN THE UNITED KINGDOM
PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF
THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE
PUBLIC DOMAIN.

 

28 January 2026

 

Alkemy Capital Investments Plc

 

TVL and Glencore Sign Binding Offtake Agreement

 

Alkemy Capital Investments plc ("Alkemy") (LSE: ALK) (JV2:FRA), the 100% owner
of Tees Valley Lithium ("TVL"), is delighted to announce the signing of a
five-year binding offtake agreement with a wholly-owned subsidiary of Glencore
plc, for the supply of battery-grade lithium hydroxide from TVL's lithium
refinery in Teesside, UK.

 

Glencore is one of the world's largest diversified natural resources
companies, with operations across more than 30 countries and a significant
presence across metals, minerals and battery raw materials supply chains.

 

Principle terms of the agreement:

 

·      Counterparty: Wholly owned subsidiary of Glencore Plc

·      Product: Battery-grade lithium hydroxide

·      Term: Five years

·      Aggregate Volume: Between 25,000 tonnes and 50,000 tonnes over
the contract term

·      Annual Volume: Up to 10,000 tonnes per annum, subject to agreed
scheduling and availability

·      Commencement: Deliveries aligned with the planned start of
production, currently targeted for early 2028

 

This agreement contains customary commercial provisions relating to pricing,
delivery and payment.

 

Project status and milestone

 

TVL is developing a lithium hydroxide refinery in Teesside with an initial
Train 1 capacity of 25,000 tonnes per annum. The project is currently
finalising its Front-End Engineering Design (FEED) study ahead of a Final
Investment Decision (FID).

 

Entering into a binding agreement with a counterparty of Glencore's scale
represents a significant commercial milestone for the project and supports
TVL's progress towards FID and construction of the UK's first large-scale
lithium hydroxide refinery.

 

The supply of TVL's battery-grade lithium hydroxide will support Glencore's
position as one of the leading suppliers of battery raw materials in the UK
and European markets, as demand for secure and high-quality lithium chemicals
continues to grow.

 

 

 

 

 

TVL CEO Vikki Jeckell commented:

 

"This binding offtake agreement with Glencore represents a major milestone for
Tees Valley Lithium and a significant endorsement of the Project's strategic
importance. Securing a long-term partnership with one of the world's leading
natural resource companies provides strong validation of our business model,
our technical approach and the role TVL will play in supplying responsibly
sourced battery-grade lithium to the UK and European markets. With a
substantial portion of our first Train's capacity now committed under binding
terms, we are well positioned as we advance towards final investment decision
and construction of the UK's flagship lithium hydroxide refinery."

 

Robin Francois, Head of Lithium Marketing, Glencore commented:

 

"We are pleased to announce this partnership and to support TVL in the
development of the UK's first major lithium hydroxide refinery. Critical
minerals like lithium play a pivotal role in the technologies of today and
tomorrow. The battery grade lithium produced at the refinery will enable us to
support the ambitions of our customers across the UK and international
markets."

 

About Glencore:

 

Glencore is one of the world's largest global diversified natural resource
companies and a major producer and marketer of more than 60 commodities that
advance everyday life. Through a network of assets, customers and suppliers
that spans the globe, we produce, process, recycle, source, market and
distribute the commodities that support decarbonisation while meeting the
energy needs of today.

 

With over 150,000 employees and contractors and a strong footprint in over 30
countries in both established and emerging regions for natural resources, our
marketing and industrial activities are supported by a global network of more
than 50 offices.

 

Glencore's customers are industrial consumers, such as those in the
automotive, steel, power generation, battery manufacturing and oil sectors. We
also provide financing, logistics and other services to producers and
consumers of commodities.

 

Glencore is proud to be a member of the Voluntary Principles on Security and
Human Rights and the International Council on Mining and Metals. We are an
active participant in the Extractive Industries Transparency Initiative.

 

We will support the global effort to achieve the goals of the Paris Agreement
through our efforts to decarbonise our own operational footprint. For more
information see our 2024-2026 Climate Action Transition Plan, available on our
website at glencore.com/publications.

 

 

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

                                 info@alkemycapital.co.uk (mailto:info@alkemycapital.co.uk)
 Zeus Capital                    Tel: 0203 829 5000

 

ABOUT US

 

Alkemy Capital Investments plc: Alkemy is focused on the development of
critical mineral infrastructure to support the global energy transition.
Through its wholly owned subsidiary, TVL, Alkemy is leading the way in
establishing Europe's first independent lithium hydroxide refinery.

 

Tees Valley Lithium Limited: TVL is dedicated to providing battery-grade
lithium chemicals to meet the growing demand of the electric vehicle supply
chain in Europe. Strategically located at in Teesside, TVL is committed to
sustainable, efficient, and world-class operations.

 

 

 

 

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. In
addition, factors that could cause actual events to differ materially from the
forward-looking information stated herein 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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