Alkemy Capital Investments PLC First phase approval from the UK ATF (6142N)
January 24 2023 - 2:00AM
UK Regulatory
TIDMALK
RNS Number : 6142N
Alkemy Capital Investments PLC
24 January 2023
24 January 2023
Alkemy Capital Investments Plc
Tees Valley Lithium receives approval of its expression of
interest from the UK's Automotive Transformation Fund
Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA)
and its wholly-owned subsidiary Tees Valley Lithium Limited (" TVL
") are pleased to report that TVL's lithium hydroxide refinery at
Teesside, UK has received first phase approval from the UK
Government's GBP1 billion Automotive Transformation Fund (" ATF ")
which seeks to support the national transition to Electric
Vehicles.
HIGHLIGHTS
-- TVL has received approval of its expression of interest from
the UK Automotive Transport Fund.
-- The UK Automotive Transformation Fund is a funding programme created to support large-scale industrialisation and will invest up to GBP1 billion to develop a high-value end-to-end electrified automotive supply chain in the UK.
The ATF is a long-term programme designed to enable the UK to
build the world's most comprehensive and compelling electrified
vehicle supply chain, supporting over 160,000 jobs and creating
export opportunities. It is an iniative of the Advanced Propulsion
Centre UK, which provides funding, support and insight to help the
nation's automotive industry transition towards a Net Zero
future.
TVL's world-class zero waste lithium hydroxide refinery 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.
The project has been granted full planning permission from
Redcar & Cleveland Borough council and is now shovel ready with
production forecast to commence in 2025, generating over 1,000
local jobs.
By sourcing low carbon feedstock and powering an electrochemical
refining process with offshore wind and green hydrogen supplied by
energy multinational bp's HyGreen Teesside project, TVL aims to
supply its UK and European customers with the world's lowest-carbon
lithium hydroxide.
Alkemy and TVL Director Sam Quinn commented:
"We welcome the first phase approval of our project proposal by
the Automotive Transformation Fund and look forward to working with
the UK Government on the development of our transformative lithium
hydroxide project in Teesside, which will be central to the
transition to electric vehicles in the UK and an important step on
the journey to our Net Zero future."
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.
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
UPDDGGDBLSDDGXX
(END) Dow Jones Newswires
January 24, 2023 02:00 ET (07:00 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