Business
MOU with Recharge Industries
MOU with Recharge Industries.
About this update from Alkemy Capital Investments Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 7 February 2023\n \n \n \n \n \n \n \n \n \n Alkemy Capital Investments Plc\n \n \n \n \n \n \n \n \n \n Tees Valley Lithium enters into MOU with Recharge Industries to supply Lithium Hydroxide\n \n \n \n \n \n \n \n \n \n \n \n Alkemy Capital Investments plc\n (\"Alkemy\")\n (ALK:LSE) (JV2:FRA) and its wholly-owned subsidiary Tees Valley Lithium Limited (\"\n \n TVL\n \n \") are pleased to report that\n TVL has entered into an MOU with Recharge Industries Pty Ltd (\"\n \n Recharge\n \n \") for Lithium Hydroxide tolling and Spodumene sourcing.\n \n \n \n \n \n \n HIGHLIGHTS\n \n \n \n \n \n \n \n \n · \n \n Recharge is an Australian Lithium-ion battery company who have successfully bid to purchase Britishvolt, a planned £3.8 billlion Lithium-ion Gigafactory in Northern England\n \n \n \n \n \n \n ·\n \n TVL and Recharge have agreed to negotiate toward executing a definitive offtake agreement to supply tolled low-carbon lithium hydroxide into Recharge's qualified supply chain and to potentially jointly source spodumene for TVL's processing facilities\n \n \n \n \n \n \n ·\n \n Recharge is currently developing Australia's first large-scale lithium-ion cell production facility in Geelong, Australia.\n \n \n \n \n \n \n Following Recharge's successful bid to acquire Britishvolt, a £3.8 billion Gigafactory planned to be built in Blyth in Northumberland and under an MOU with Recharge, TVL has agreed to supply tolled lithium hydroxide to Recharge from its facility in Teesside. Both companies will continue good-faith negotiations, aiming toward a definitive offtake and supply agreement.\n \n \n \n \n \n In addition, both TVL and Recharge have agreed to work together to jointly source lithium spodumene to be used in TVL's refinery in Port Hedland, Western Australia for conversion to lithium suphate to be shipped to Teesside, UK for conversion into lithium hydroxide.\n \n \n \n \n \n Recharge has sought the support of TVL to safeguard the supply of critical minerals into both its Geelong (Avalon) and Northumberland gigafactories. The significant offtake envisaged under the MOU enables long term planning and production forecasting and strengthens its own battery offtake agreements and existing supply chain. Recharge will make its supply...