REG - Alkemy Capital Invs. - TVL Appoints Wates group

Alkemy Capital InvestmentsAnnouncement

24/02/2026 07:00

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RNS Number : 0776U  Alkemy Capital Investments PLC  24 February 2026

24 February 2026

 

Alkemy Capital Investments Plc

 

TVL Appoints Wates group to Advance Pre-Construction

 

Alkemy Capital Investments plc ("Alkemy") (LSE: ALK) (JV2:FRA), announces that
its wholly owned subsidiary Tees Valley Lithium ("TVL"), has agreed Heads of
Terms with Wates Construction Limited ("Wates") for a Pre-Construction
Services Agreement.

 

Further to the recently completed FEED study, a preferred project site in
Teesside is being acquired. All core workstreams remain aligned to the
previously announced timelines.

 

TVL's construction partner, Wates is one of the leading family-owned
development, building and property maintenance companies.  Over recent
months, TVL and Wates have worked closely to align on delivery strategy,
programme and execution approach.

 

Wates' appointment to progress pre-construction activities brings in relevant
local industrial, construction and MEP experience from its Construction and
SES divisions and strengthens the project's readiness as it transitions into
execution.

 

HIGHLIGHTS

 

·      FEED complete; timeline to FID, financing and development
unchanged.

 

·      Heads of Terms agreed with Wates for pre-construction activities.

 

·      17.2-acre (7 hectare) site at New Road, Billingham, Teesside
being acquired; large enough to accommodate expansion up to 100ktpa production
capacity.

 

·      Pre-construction activities expected to commence early March
2026.

 

Alkemy Chairman Paul Atherley commented:

 

"We are pleased to be working with Wates as our construction partner, a highly
experienced contractor with local connections.  This agreement puts us in a
strong position to draw on the many benefits of the Teesside region in the
development of this world-class project."

 

TVL CEO Vikki Jeckell commented:

 

"Working with Wates, an experienced Tier 1 contractor, represents a
significant step forward for the project.  Over recent months we have aligned
on execution strategy, programme integration and delivery approach.

 

"We are now transitioning into pre-construction execution. As we enter this
phase, the project will be managed through a disciplined delivery framework
focused on construction progression, procurement readiness and cost control.

"Alkemy will continue to update the market at appropriate project milestones
as delivery progresses."

 

Wates Advanced Manufacturing MD Eddie Tribe commented:

 

"This is a positive milestone in the delivery of TVL's facility. We look
forward to bringing our extensive experience in both construction and
mechanical and electrical engineering to the project, to enable TVL to bring
their vision to life."

 

Construction Progress

 

Under the Pre-Construction Services Agreement, which is expected to commence
in March, Wates will work closely with the TVL team to progress the detailed
engineering, construction planning, programme development and cost alignment
required to prepare the project for construction.

 

Early contractor involvement at this stage enhances delivery readiness and
provides greater certainty over scope, sequencing and procurement strategy.

 

Site Selection

 

The recently completed FEED studies evaluated a number of site options and
compared leasing and purchasing structures. As a result, Alkemy has selected
the 17.2-acre (7 hectare) New Road, Billingham, Teesside site for purchase as
the preferred location.

 

Due to the site's location within an existing chemical park, which benefits
from interconnecting services and utilities, no changes are necessary to the
original plant design.

 

Wates Group: Established in 1897, Wates are one of the UK's leading
family-owned development, building and property maintenance companies. In
2024, Wates generated underlying group profit before tax of £31.4m from
a turnover of £2.40bn, working with a wide range of public and
private-sector customers and partners. With 6,000 employees and now in their
fourth generation of family ownership, they are committed to the long-term
sustainability of the built environment and to making their industry more
inclusive and representative of the communities they work in. Wates are an
Investors in People Gold accredited company, driven by their purpose of
reimagining places for people to thrive.  Wates.co.uk
(https://www.wates.co.uk/)

 

 

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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