Long Term Lease Agreed for TVL’s lithium processing facility at Wilton International
Alkemy Capital Investments plc (“Alkemy”) (ALK:LSE) (JV2:FRA) is pleased to announce that its wholly owned subsidiary Tees Valley Lithium Ltd (” TVL “) has agreed the terms of a Long Term Lease in respect of its lithium hydroxide processing facility in Teesside.
Alkemy Capital (LON: ALK) shares: still undervalued for position traders?
HIGHLIGHTS
· TVL and Sembcorp Energy UK agree the terms of a 30 year Lease for TVL’s lithium processing facility at Wilton International, Teesside.
· Sembcorp Energy UK’s site at Wilton International, within the Teesside Freeport, sits amongst a hub of decarbonisation innovation, and is ready for investing energy-intensive industrial businesses with it’s ‘plug and play’ approach to available development land.
· Agreeing terms for a long term Lease follows the granting of full planning permission in November and represents another significant milestone for TVL.
TVL announces that further to its RNS on 8 November 2022, it has now formally agreed the terms of a 30 year Lease with Sembcorp Energy UK in respect of its site at Wilton International in Teesside.
Under the terms of an Agreement for Lease, which was signed today, TVL has an option for up to a year to enter into the agreed long term Lease, during which time it will conclude formalities with respect to financing and utilities and services, although it is anticipated that these should be completed well in advance of the expiry of the option period.
A key driver for TVL’s site selection at Wilton International, which sits within the Teesside Freeport amongst a hub of decarbonisation innovation, is Sembcorp Energy UK’s ‘plug & play’ infrastructure, and readily-accessible utilities including water, gas, steam and electricity.
The refinery will be capable of producing both lithium hydroxide and lithium carbonate sourced from imported high grade feedstock from South America and lithium producers located in Australia and elsewhere. The refinery is expected to produce enough lithium hydroxide to supply 100% of the forecasted automotive demand in the UK by 2030, with a further 35% of its total production available for export to other countries in Europe and elsewhere.
Utilising state-of-the-art electrochemical processing, TVL’s zero waste lithium refinery will be the largest in Europe – producing 96,000tpa of low-carbon battery-grade lithium hydroxide once in full production – equivalent to 15% of projected European demand.
@AlkemyCapital has received full planning permission from Redcar & Cleveland Borough Council to build the UK’s first and Europe’s largest #Lithium Hydroxide refinery @TVLithium anticipates a fast-track timeline to the first production #ALK pic.twitter.com/whaLwX3eju
— Share_Talk ™ (@Share_Talk) December 12, 2022
Andy Koss,CEO UK & Middle East, Sembcorp Industries, commented:
“It’s great to see Tees Valley Lithium committed to Teesside and further supporting the net zero supply chain. At Wilton International, Sembcorp Energy UK is ready to welcome new businesses and jobs that will help enable the transition to a low-carbon economy.”
Sam Quinn, Director of Alkemy commented:
“We are delighted to have agreed the terms of a Long Term Lease at the world-class Wilton International site in Teesside.
This represents another significant milestone for Tees Valley Lithium as we seek to become Europe’s first and largest independent and sustainable lithium hydroxide processing hub.
We would like to thank the highly supportive team at Sembcorp Energy UK and look forward to working together with them as we develop and construct our refinery.”
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: 0207 317 0636
