TIDMALK
RNS Number : 6312C
Alkemy Capital Investments PLC
12 October 2022
12 October 2022
Alkemy Capital Investments Plc
Tees Valley Lithium partners with bp to trial green hydrogen in
lithium process
Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) is
pleased to announce that its wholly owned subsidiary Tees Valley
Lithium Ltd (" TVL ") has entered into a Memorandum of
Understanding (" MOU ") with bp Alternative Energy Investments
Limited (" bp "), a member of the bp plc group of companies, which
is focussed on the development of its large green-hydrogen
electrolytic production facility in Teesside (HyGreen
Teesside).
HIGHLIGHTS
-- bp will seek to supply green hydrogen to TVL as part of its
HyGreen Teesside project, which is currently under development
-- TVL to partner with bp to evaluate the feasibility of further
decarbonising TVL's processes and energy requirements via a switch
from natural gas to green hydrogen
-- 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
Following a preliminary review, bp and TVL consider there to be
significant potential to further decarbonise TVL's process with the
use of green hydrogen, that bp plans to produce at it proposed
Hygreen Facility in Teesside.
The MOU proposes a broad-based collaboration between bp and TVL
to jointly evaluate TVL's processes and energy requirements with
the aim of decarboninsing these via a switch of fuel from natural
gas to green hydrogen.
More than 700GW of gigafactories are planned for construction
across Europe, which will require over 325,000 tonnes of Lithium
Hydroxide and 325,000 tonnes of Lithium Carbonate per annum:
currently there is zero Lithium Hydroxide capacity in Europe.
Construction of Train 1 of TVL's Lithium Hydroxide processing
facility at the Wilton International Chemicals Park in Teesside UK,
the first of four trains planned for the site, will produce 24,000
tpa of battery-grade LHM. Once completed, all four trains will
produce a total of 96,000 tpa LHM, representing around 15% of
Europe's projected demand by 2030. TVL's innovative electrochemical
process allows the flexibility to divert 20% of the refinery's
production capacity to produce lithium carbonate.
By sourcing low carbon feedstock and powering an electrochemical
process with offshore wind and green hydrogen, TVL is aiming to
supply its customers with the world's lowest-carbon Lithium
Hydroxide.
Louise Kingham, bp's UK Head of Country and Senior Vice
President of Europe, commented:
"Our agreement with Tees Valley Lithium has great potential to
support its exciting aim of supplying its customers with the
world's lowest-carbon lithium hydroxide. It reflects the strong
support we've already had from customers, who see HyGreen Teesside
as the best way to decarbonise their operations.
The project will help transform local energy use, the local
economy and skills development in the community. It will also help
us deliver economic growth and the home-grown hydrogen that the UK
needs."
John Walker, CEO of Tees Valley Lithium, commented:
"Tees Valley Lithium is delighted to be partnering with bp in
this initiative, which will seek to further decarbonise TVL's
Lithium Hydroxide production at the Wilton International Chemicals
Park, in Teesside, UK.
"TVL will source high value intermediate lithium products with a
low embedded carbon footprint from around the world, and will
provide customers in the UK and Europe with an independent and
sustainable supply of low-carbon battery-grade Lithium Hydroxide
and Lithium Carbonate."
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
Buchanan Tel: +44 (0)20 7466 5000
Bobby Morse/Abigail Gilchrist TVL@buchanan.uk.com
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 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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
UPDFFFSAEEESEES
(END) Dow Jones Newswires
October 12, 2022 04:30 ET (08:30 GMT)
Alkemy Capital Investments (LSE:ALK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Alkemy Capital Investments (LSE:ALK)
Historical Stock Chart
From Apr 2023 to Apr 2024
