Tees Valley Lithium reveals step towards government funding

Plans to build a major lithium hydroxide refinery on Teesside could secure Government money, the firm behind the scheme has indicated.

Tees Valley Lithium is due to start construction of its 96,000 tonnes per year factory at the Wilton International site – a move that could bring 1,000 jobs to the area. And in an update, the firm’s owners Alkemy Capital Investments has told the London Stock Exchange that its expression of interest to the Government’s £1bn Automotive Transformation Fund has been approved.

It means the project could receive future grant support from the fund which is designed to support the UK automotive supply chain’s transition to Net Zero. Tees Valley Lithium’s £200m refinery could supply up to 15% of European electric vehicle makers’ required lithium hydroxide once it reaches capacity in 2030.

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.

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