REG - Alkemy Capital Invs. - TVL Grant Funding Secured

Alkemy Capital InvestmentsAnnouncement

29/09/2023 07:00

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RNS Number : 0807O  Alkemy Capital Investments PLC  29 September 2023

 

29 September 2023

 

 

Alkemy Capital Investments Plc

 

 

Tees Valley Lithium & Weardale Lithium secure grant funding to advance
lithium production and refining in North East England

 

 

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) and its
wholly-owned subsidiary Tees Valley Lithium ("TVL") are pleased to announce
that TVL together with Weardale Lithium ("WL") has secured a joint funding
package of approximately £613,000, which includes a grant of approximately
£430,000 from Innovate UK.

Innovate UK is the UK's national innovation agency. It drives productivity and
economic growth by supporting businesses to develop and realise the potential
of new ideas.

The funding provided under the Launchpad: Net Zero, CR&D Tees Valley, R2
competition supports outstanding innovation projects that grow activities in
the Net Zero innovation cluster centred on Tees Valley and supports the
Government's goals in the Levelling Up White Paper
(https://www.gov.uk/government/publications/levelling-up-the-united-kingdom) .
Through collaborative research and development, TVL and WL are building upon
the Memorandum of Understanding signed last year to evaluate the potential
synergies of both producing and refining lithium in the North East of England.

The project is specifically concerned with novel methods for the production
and refinement of lithium extracted from geothermal brine resources in the
context of developing an integrated and robust route from 'borehole to
battery', all within the North-East region. The funding will advance
feasibility studies and scale-up activities to further a battery-supply chain
industrial hub and include the evaluation of the potential for WL to supply
lithium to TVL for refining.

 

Sam Quinn, Director of Tees Valley Lithium, said:

 

"We are delighted to have received this grant from Innovate UK and look
forward to our collaboration with Weardale as we seek to bring back high value
manufacturing to the North East and help develop a potential UK-based supply
chain for the lithium sector.

 

At Wilton in the Teesside Freeport, TVL is establishing Europe's largest
low-carbon merchant lithium hydroxide refinery. Each of the four trains at
Wilton will take feedstock in the form of lithium sulphate or crude carbonate,
to produce 24,000 tpa of battery-grade lithium hydroxide (or carbonate
equivalent) feeding directly into the European and international battery cell
manufacturers."

 

 

Stewart Dickson, CEO of Weardale Lithium, said:

"Weardale Lithium has the objective to become a UK supplier of lithium from
geothermal brines. This collaborative project with Tees Valley Lithium is
another important step in developing an integrated and coherent supply of
lithium in North East England. In order to accelerate the adoption of electric
vehicles and meet net-zero targets, the UK needs to secure supply of lithium
for refining and production of battery-grade lithium hydroxide and lithium
carbonate.

Having been the first company to produce lithium carbonate from geothermal
brines in the North East earlier this year, we are entering a scale-up phase.
This collaboration with Tees Valley Lithium is highly-beneficial for both
parties as we both seek to advance towards larger scale testing and
construction of pilot facilities. A local supply of high-value critical
minerals products should generate highly skilled science, technology and
engineering opportunities and at the same time, reducing the environmental
impacts and supply risks of imported raw materials".

 

Further information

 

For further information, please visit the Company's website:
www.alkemycapital.co.uk (http://www.alkemycapital.co.uk) or
www.teesvalleylithium.co.uk (http://www.teesvalleylithium.co.uk)

-Ends-

 

 Alkemy Capital Investments Plc  Tel: 0207 317 0636

                                 info@alkemycapital.co.uk
 SI Capital Limited              Tel: 0148 341 3500
 VSA Capital Limited             Tel: 0203 005 5000

 

 

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 UK 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, through its wholly owned Australian subsidiary Port Hedland Lithium,
has secured a 43.7 ha site near Port Hedland, Western Australia to build a
world-class sustainable lithium sulphate refinery that will provide reliable
feedstock for Tees Valley Lithium's refinery. Port Hedland Lithium has
completed a Class 4 Feasibility Study for its proposed lithium sulphate
refinery, each train of which will process spodumene concentrate to produce
40,000 tonnes of lithium sulphate annually.

 

 

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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