A coming lithium hydroxide factory on Teesside could supply the company looking to rescue plans for Britishvolt’s £3.8bn gigafactory in the North East.
Tees Valley Lithium, which is building a £200m facility in Redcar, has signed a memorandum of understanding with Recharge Industries, an Australian start-up which administrators chose as buyer of the failed battery company. In an update to investors, Tees Valley Lithium – owned by Alkemy Capital Investments – said it would continue good-faith negotiations with the firm, aiming toward a definitive offtake and supply agreement.
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.