Appointment of Lead Engineering Partner

RNS Number : 5961F

Alkemy Capital Investments PLC

08 November 2022

 

8 November 2022

Alkemy Capital Investments Plc

Wave International appointed as Lead Engineering and Technical Partner for TVL's Lithium Hydroxide Facility in Teesside

Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) is pleased to announce that its wholly owned subsidiary Tees Valley Lithium Ltd (" TVL ") has appointed international engineering firm Wave International (" Wave ") as its Lead Engineering and Technical Partner for the development of its Teesside lithium hydroxide processing facility in NE England.

HIGHLIGHTS

· Wave is a specialist engineering firm, with industry-leading lithium expertise and a proven track record in the study, design and construction of lithium hydroxide processing facilities.

·   Wave has already completed a Class 4 engineering study and verified testwork by third party cathode active material manufacturers for TVL's UK refinery.

·   Wave will project manage and lead the oversight and development of FEED, EPCM work and Electrochemical Process Development, facilitating TVL's fast track schedule.

·   TVL is aiming to produce the world's lowest carbon lithium hydroxide by sourcing low carbon feedstock and powering an electrochemical process with offshore wind and green hydrogen.

Wave is a specialist engineering firm, with over 20 years of industry-leading lithium development expertise and a unique track record in the study, design, commissioning and operation of lithium chemical refineries.

Wave will bring to TVL its extensive experience gained from having developed similar major lithium hydroxide facilities in Australia. This critical experience will help de-risk TVL in establishing its first trains and pioneering a new lithium refining industry in the UK.

Wave recently completed a Class 4 engineering study for TVL's UK refinery and has overseen testwork, verified by third party cathode active material manufacturers, that confirms TVL's ultra-pure battery grade lithium hydroxide.  

TVL and Wave will now look to fast track the development of TVL's lithium hydroxide processing facility with the initial focus being on Front End Engineering Design (FEED), the formation of an Engineering, Procurement and Construction Management (EPCM) team for train 1 and the continued development of the electrochemical process route.

TVL is moving quickly to establish Europe's first and largest lithium hydroxide processing hub at Teesside in the North East of England.

By utilising a state of the art electrochemical route powered by low-cost green energy, TVL will be supplying the UK and Europe with 96,000tpa of low-carbon, battery grade lithium hydroxide - equivalent to 15% of European demand.

Since February, TVL has announced a site location, released a Class 4 Feasibility Study with testwork validated by cathode active material manufacturers and signed partnership agreements with global metals trader Traxys and local lithium producer Weardale Lithium, in addition to one of the world's largest energy mulinationals, bp.

TVL continues to make great strides on multiple fronts and looks forward to providing the market with updates on further developments in the coming weeks.

Ryan Hanrahan, Director and CEO of Wave International commented:

"We are delighted to be working with the Alkemy and TVL team over the past year to bring this outstanding lithium refinery project to where it is today. The Board and management of the company have a clear and precise strategy, and we share a common view and enthusiasm for the energy transition.

Combining Alkemy and TVL's vision with Wave's industry leading experience and innovative approach to project delivery, gives rise to a truly exciting project and investment opportunity."

Sam Quinn, Director of Alkemy commented: 

"Alkemy and Tees Valley Lithium are delighted to be partnering with Wave as the company's primary consultant for the Teesside refinery at this critical point in our evolution. Ryan and the team have done an exceptional job on the Class 4 engineering study and will continue to do so on our other key workstreams as we develop, finance and construct our project.

TVL is moving rapidly towards becoming the world's first independent and sustainable solution for lithium refining and preparations are now well advanced for activities on the ground to commence imminently."

Extension of Exclusivity Agreement for Site at Wilton International

TVL announces that further to its Corporate Update on 29 September 2022, the exclusivity period with Sembcorp Energy UK has been extended by the parties until 16 December 2022 to facilitate ongoing discussions with the aim of concluding legal documentation for the Agreement to Lease at Wilton International by that date.

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 Sam Quinn	Tel: [phone] [e-mail]
Buchanan Oonagh Reidy/Abigail Gilchrist	Tel: [phone] [e-mail]
VSA Capital Limited Andrew Monk (Corporate Broking) Andrew Raca (Corporate Finance)	Tel: [phone]
Shard Capital Partners LLP Damon Heath Isabella Pierre	Tel: [phone] [e-mail] Tel: [phone] [e-mail]

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 at the Wilton International Chemicals Park located in Teesside, a major UK Freeport to build Europe's first and largest Lithium Hydroxide processing facility.

Alkemy has completed a Class 4 Feasibility Study for its proposed lithium hydroxide facility 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.

The company has identified a site at 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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