A forthcoming Teesside lithium hydroxide factory has signed an Memorandum of Understanding to supply the preferred bidder for the collapsed Britishvolt battery project.
Tees Valley Lithium, which is a wholly owned subsidiary of LSE-listed Alkemy Capital Investments and has planning permission for a £200m facility in Redcar, said in an update to investors that it would continue good-faith negotiations with Australian start-up Recharge Industries, aiming toward a definitive supply agreement.
The final deal could see Tees Valley supply low-carbon lithium hydroxide into Recharge’s supply chain and also potentially jointly source spodumene for Tees Valley’s processing facilities.
Alkemy Capital Investments plc (LON:ALK, FRA: JV2) is focussed on developing projects in the energy transition metals sector. Alkemy’s wholly-owned subsidiary Tees Valley Lithium (TVL) is developing a state of the art lithium hydroxide plant at Teesside, UK. TVL is Europe’s largest independent and sustainable lithium hydroxide producer.