Business
Lithium Feedstock Agreement with Traxys
Lithium Feedstock Agreement with Traxys.
About this update from Alkemy Capital Investments Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 21 July 2022\n \n \n \n \n \n \n \n \n \n Alkemy Capital Investments Plc\n \n \n \n \n \n \n \n \n \n Leading global metals trader Traxys to source lithium feedstock for Tees Valley Lithium\n \n \n \n \n \n \n \n \n \n \n \n Alkemy Capital Investments plc\n (\"Alkemy\")\n (LSE: ALK) and its wholly-owned subsidiary Tees Valley Lithium Ltd (\"\n \n TVL\n \n \") are pleased to announce that TVL has entered into a Memorandum of Understanding with leading global physical trader and merchant in metals and natural resources, Traxys North America LLC, a member of the Traxys Group of companies (\"\n \n Traxys\n \n \").\n \n \n \n HIGHLIGHTS\n \n \n \n · \n \n Traxys has agreed to source and supply lithium feedstock for TVL's planned processing facility in Teesside, UK\n \n \n \n · \n \n Traxys is a leading global metals trader with expertise in the lithium and battery metals sectors, with annual turnover in excess of USD 8 billion\n \n \n \n · \n \n Lithium feedstock to initially supply Train 1 of TVL's facility, producing 24,000tpa of battery-grade lithium hydroxide, with production due to commence in 2024\n \n \n \n · \n \n Traxys and TVL will also work together to gain efficient raw material validation and approval for the automotive supply chain\n \n \n \n \n \n \n \n Traxys' Managing Director for Lithium Supply, Kevin Smith, commented:\n \n \n \n \n \"Traxys is pleased to enter into this MOU with Tees Valley Lithium as we share their vision of establishing a strong and robust lithium supply chain in the UK that facilitates the adoption of EV's and advancement of the energy transition. We believe Tees Valley Lithium has positioned themselves to be a tier one supplier of lithium hydroxide and are excited to be part of their sourcing strategy, leveraging Traxys' supply chain finance and management expertise to best serve battery and OEM customers.\"\n \n \n \n \n \n \n \n \n \n Alkemy and TVL Director, Sam Quinn, commented:\n \n \n \n \n \"We are delighted to be partnering with leading global metals trader Traxys who will supply TVL with the lithium feedstock required for TVL to become Europe's largest and lowest-carbon lithium hydroxide producer, located at the Wilton International Chemicals Park in Teesside, UK.\n \n \n \n \n Uti...