TIDMALK
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 Tel: 0207 317 0636
Sam Quinn info@alkemycapital.co.uk
Buchanan Tel: +44 (0)20 7466 5000
Oonagh Reidy/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.
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