Business
Corporate Update
Corporate Update.
About this update from Alkemy Capital Investments Plc
[{"type":"text","content":"\n\n5 August 2024\n \nAlkemy Capital Investments Plc\n \nCorporate Update\n \nAlkemy Capital Investments plc (\"Alkemy\") (LSE: ALK) (JV2:FRA) is pleased to provide a corporate and strategic update.\n \nHIGHLIGHTS\n \n· Project level financing discussions for Tees Valley Lithium's refinery advancing with multiple potential providers of debt, strategic equity and green bond finance; mezzanine finance discussions to fund FEED progressing well with a shortlist of potential funding providers identified.\n \n· Key technology partner with expertise in lithium refining identified by Tees Valley Lithium to help accelerate the electrochemical process; potential reductions in capex and opex for its Teesside refinery.\n \n· Macro outlook for lithium processing remains robust despite a recent volatility in lithium prices, with European demand for lithium remaining on an unprecedented upward trajectory; UK battery supply chain continues to develop at pace.\n \n· Collaboration with UK based lithium focussed Geothermal Engineering to enable the development of a UK battery grade lithium supply chain; R&D grant with Weardale Lithium is progressing well.\n \n· Tees Valley Graphite has substantially progressed a legally binding joint venture agreement with Syrah Resources for its proposed graphite processing facility 50/50 joint venture.\n \n \nChairman Paul Atherley commented:\n \n\"Alkemy continues to make good progress on a number of fronts. The growing interest in Tees Valley Lithium, particularly from prospective UK customers, is very encouraging. We are excited about the potential for the technology partnership with scope for both capital and operating cost reductions. Our main focus remains on progressing the mezzanine financing which is well advanced.\"\n \nProject and mezzanine funding discussions are progressing with several groups now shortlisted to provide up to $25m at project (TVL) level\n \nTees Valley Lithium (\"TVL\") is in discussions with a number of leading financial institutions for the financing of its Wilton refinery.\n \nThe $300m approximate capital cost of train 1 is expected to be financed largely through green bonds (for which TVL will see...