A Teesside factory could supply the vital materials needed to make electric vehicle batteries at the Britishvolt site in the North East.
Tees Valley Lithium, which has planning permission for its 1,000-job lithium hydroxide factory at Wilton International, has revealed it is in talks with Australian start-up Recharge Industries, who were announced yesterday as the buyers of failed battery firm Britishvolt. Recharge plans reinvigorate £3.8bn plans to bring a gigafactory to the Northumberland site having been selected by administrators at EY as the preferred bidder.
Investors in Tees Valley Lithium – which is owned London Stock Exchange-listed Alkemy Capital Investments – have been told the two firms were in negotiations with a view to agreeing a substantial 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.