TIDMALK
RNS Number : 4241R
Alkemy Capital Investments PLC
01 March 2023
1 March 2023
Alkemy Capital Investments Plc
Recharge Industries Completes the Acquisition of Britishvolt
Tees Valley Lithium to advance negotiations to conclude a
binding lithium offtake
Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA)
and its wholly-owned subsidiary Tees Valley Lithium Limited (" TVL
") are pleased to provide an update on Recharge Industries Pty
Ltd's (" Recharge ") acquisition of Britishvolt.
HIGHLIGHTS
-- Recharge, an Australian Lithium-ion battery company, has now
completed on the acquisition of Britishvolt, a planned GBP3.8
billlion Lithium-ion Gigafactory in Northern England
-- TVL and Recharge have signed an MOU and will now seek to to
negotiate and finalise a definitive offtake agreement to supply
tolled low-carbon lithium hydroxide into Recharge's qualified
supply chain and to potentially jointly source spodumene for TVL's
processing facilities
-- Recharge is currently developing Australia's first
large-scale lithium-ion cell production facility in Geelong,
Australia.
Further to TVL's announcement on 7 February 2023 confirming that
TVL had entered into an MOU with Recharge to supply lithium
hydroxide, it is noted as reported in the national press that
Recharge has now successfully completed the acquisition of
Britishvolt, a GBP3.8 billion Gigafactory planned to be built in
Blyth in Northumberland.
Under plans presented by Recharge, the Britishvolt project will
be the UK's first Gigafactory, creating a strategic economic and
security asset which will play a critical role in the UK's
industrial and net zero strategies. Britishvolt will provide
thousands of green, skilled and local jobs that will drive local
and national benefits.
Under its MOU with Recharge, TVL has agreed to supply tolled
lithium hydroxide to Britishvolt from its facility in Teesside.
Both companies will continue good-faith negotiations, with the aim
of concluding a definitive offtake and supply agreement.
In addition, both TVL and Recharge have agreed to work together
to jointly source lithium spodumene to be used in TVL's refinery in
Port Hedland, Western Australia for conversion to lithium suphate
to be shipped to Teesside, UK for conversion into lithium
hydroxide.
Recharge is backed by New York based investment firm Scale
Facilitation and is currently in the process of building a
gigafactory at Avalon near Geelong, Australia and is also involved
in battery technology research and development.
TVL's world-class zero waste lithium hydroxide refinery in
Teesside, UK will form a significant component of the UK's
transition to Electric Vehicles and is expected to produce enough
lithium hydroxide to supply 100% of the forecasted automotive
demand in the UK by 2030.
Recharge Founder David A. Collard commented:
" Following our successful acquisition of Britishvolt, we look
forward to concluding our negotiations with TVL to deliver high
quality battery grade Lithium Hydroxide into our supply chain.
These negotiations are supported by the work already being done by
Recharge to secure Spodumene supply as feed stock to TVL's Port
Hedland Lithium Sulphate plant."
Alkemy and TVL Director Sam Quinn commented:
"We are delighted that Recharge Industries has now successfully
concluded the purchase of Britishvolt, a project of significant
national importance and one that is critical for establishing the
UK's battery cell supply chain. We look forward to working with
Recharge and Britishvolt on playing our part in transitioning the
UK to a low-carbon and low-emissions future through the development
of onshore UK facilities in the EV and battery cell supply
chain."
Further information
For further information, please visit Alkemy's website:
www.alkemycapital.co.uk or TVL's website
www.teesvalleylithium.co.uk .
-Ends-
Alkemy Capital Investments Plc Tel: 0207 317 0636
Sam Quinn info@alkemycapital.co.uk
VSA Capital Limited Tel: 0203 005 5000
Andrew Monk (Corporate Broking)
Andrew Raca (Corporate Finance)
Shard Capital Partners LLP Tel: 0207 186 9952
Damon Heath damon.heath@shardcapital.com
Tel: 0207 186 9927
Isabella Pierre isabella.pierre@shardcapital.com
NOTES TO EDITORS
Alkemy is seeking to establish the world's leading independent
and sustainable lithium hydroxide production by developing
state-of-the-art lithium sulphate and lithium hydroxide facilities
in Australia and the UK.
Alkemy, through its wholly-owned subsidiary Tees Valley Lithium,
has secured a 9.6 ha brownfields site with full planning permission
at the Wilton International Chemicals Park in Teesside, a major UK
Freeport, to build the UK's first and Europe's largest lithium
hydroxide processing facility.
Tees Valley Lithium has completed a Class 4 Feasibility Study
for its proposed lithium hydroxide refinery which will process
feedstock imported from various sources to produce 96,000 tonnes of
premium, low-carbon lithium hydroxide annually, representing around
15% of Europe's projected demand.
Alkemy has also secured a site near Port Hedland, Western
Australia to build a world-class sustainable lithium sulphate
refinery that will provide reliable feedstock for Tees Valley
Lithium.
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. Mining exploration and development
is an inherently risky business. In addition, factors that could
cause actual events to differ materially from the forward-looking
information stated herein include any factors which affect
decisions to pursue mineral exploration on the relevant property
and the ultimate exercise of option rights, which may 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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