REG - Alkemy Capital Invs. - TVL Project Development Update

Alkemy Capital InvestmentsAnnouncement

24/04/2026 07:00

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RNS Number : 7243B  Alkemy Capital Investments PLC  24 April 2026

24 April 2026

 

Alkemy Capital Investments Plc

 

TVL Project Development Update

 

Alkemy Capital Investments plc (LSE: ALK), through its wholly owned
subsidiary, Tees Valley Lithium ("TVL"), is pleased to provide an update on
key areas of project development as it progresses the UK's flagship lithium
refining facility in Teesside.

 

The update highlights continued advancement across engineering definition,
cost validation, supply chain development, site integration and environmental
workstreams, supporting the project's progression toward execution.

 

Highlights

 

·    Independent cost validation completed: Third-party review confirms a
robust and credible capital cost position following completion of FEED.

·    Cost competitiveness reinforced: Prior benchmarking by SC Insights
identified TVL as one of the most cost-effective lithium projects globally.

·    Critical reagent supply: MOU signed with Buxton Lime to support
long-term quicklime supply and processing support

·    Industrial integration advancing: Discussions advancing with
neighbouring industrial operator regarding site facilities and utilities

·    Environmental Workstreams progressed: Ecology studies for the
Billingham site were completed with no adverse findings

 

Independent Capital Cost Validation Completed

Following completion of the FEED study work, and building on prior
benchmarking by SC Insights, which identified TVL as one of the most
cost-effective lithium refinery projects globally, TVL has undertaken an
independent capital cost assurance review through Logic-i Ltd, a specialist
project controls and cost consultancy.

 

The review assessed the capital cost estimate for Train 1 of the lithium
hydroxide refinery, including cost structure, pricing levels and benchmarking
against comparable industrial process facilities.

 

Key conclusions include:

·    The capital cost estimate reflects a level of definition consistent
with completion of FEED and detailed engineering development

·    Cost distribution across major disciplines is coherent and
proportionate to the modular facility

·    Unit rates across key disciplines are aligned with recognised global,
national, and regional industry benchmarks

·    The estimate represents a credible and consistent view of Total
Installed Cost.

 

This independent validation reinforces the robustness of the project's cost
position and supports the previously reported SC Insights benchmarking
analysis.

 

 

Logic‑i Ltd is an independent UK‑based project controls, cost and
commercial advisory consultancy supporting the delivery and assurance of
complex industrial and energy projects. The firm provides objective capital
cost, schedule and commercial assurance to project owners, investors and
lenders, drawing on extensive industry experience across engineering,
construction and process facilities.

 

 

Framework Established for Long-Term Supply of Critical Reagent

 

TVL has entered into a non-binding Memorandum of Understanding with Buxton
Lime Limited, part of SigmaRoc PLC, one of the UK's leading producers of lime
products.

 

Quicklime is a critical reagent in the lithium refining process, enabling
conversion of lithium carbonate into battery-grade lithium hydroxide.

 

The MOU established a framework for potential long-term supply and
collaboration, including:

·    Supply of quicklime to support refinery operations

·    Optimisation of lime handling and slaking systems

·    Development of a secure and efficient domestic reagent supply chain

·    Exploration of future opportunities for closed-loop reagent recovery

 

TVL is committed to supporting the development of UK-based supply chains where
possible, recognising the importance of domestic capability in critical
materials and industrial processes.

 

This represents a step toward securing key inputs required for continuous
refinery operations while aligning with broader UK industrial strategy
objectives.

 

 

Site, Infrastructure and Environmental Progress

 

The newly acquired site in Billingham is located within an established
chemical and industrial hub, providing access to existing infrastructure and
enabling engagement with neighbouring operators to support project
development.

 

In this context, TVL is advancing discussions with a neighbouring industrial
operator regarding potential collaboration across sites and infrastructure,
including ease of warehousing, engineering workshops and office facilities,
and the potential long-term supply of key utilities such as electricity, steam
and water.

 

These arrangements are expected to support early site mobilisation as the
project progresses.

 

In parallel, site-based environmental and ecology studies have been completed,
with no adverse findings identified.

 

 

 

 

TVL CEO Vikki Jeckell commented:

"This update reflects continued progress across the core elements required to
deliver the project. Independent validation of our cost position following
FEED, alongside earlier benchmarking, which positioned TVL as one of the most
cost-effective refinery projects, providing a strong foundation as we move
forward.

 

At the same time, progress on securing critical reagents and advancing site
and infrastructure workstreams demonstrates the level of preparation required
to deliver a project of this scale.

 

Together, these steps reinforce TVL's role as a key part of the UK and
European battery materials supply chain."

 

Stephen Priestley, Director of Logic‑i Ltd, commented:

"We were pleased to work with Tees Valley Lithium to independently validate
the capital cost estimate developed through the FEED study. Drawing on our
experience of supporting complex industrial projects, our role was to apply
objective cost, benchmarking and project controls expertise to confirm that
the estimate is appropriately defined for this stage of development. Projects
such as TVL are an important part of strengthening the UK's industrial and
energy transition capability, and we welcome the opportunity to support their
progression."

 

 

 

Michal Roddy, Regional MD, Sigma Roc commented:

"This Memorandum of Understanding recognises lime as a critical reagent in
lithium refining, supporting impurity removal, pH control, and the production
of battery-grade materials. The parties acknowledge the strategic role of the
Teesside industrial cluster in the UK lithium supply chain and the benefits of
integrating a reliable, locally sourced lime supply. This approach will
improve efficiency, enhance security of supply, and
reduce logistics. Accordingly, lime is recognised not only as an essential
input, but as a key enabler of a competitive, resilient, and sustainable UK
lithium value 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

                                 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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