Business
TVL Accelerates Lithium Supply With BritishVolt
TVL Accelerates Lithium Supply With BritishVolt.
About this update from Alkemy Capital Investments Plc
[{"type":"text","content":"\n \n \n \n \n \n \n \n \n 1 March 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 Recharge Industries Completes the Acquisition of Britishvolt\n \n \n \n \n Tees Valley Lithium to advance negotiations to conclude a binding lithium offtake\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 provide an update on Recharge Industries Pty Ltd's (\"\n \n Recharge\n \n \") acquisition of Britishvolt.\n \n \n \n \n \n \n HIGHLIGHTS\n \n \n \n \n \n \n \n \n · \n \n Recharge, an Australian Lithium-ion battery company, has now completed on the acquisition of 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 signed an MOU and will now seek to to negotiate and finalise 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 Further to TVL's announcement on 7 February 2023 confirming that TVL had entered into an MOU with Recharge to supply lithium hydroxide, it is noted as reported in the national press that Recharge has now successfully completed the acquisition of Britishvolt, a £3.8 billion Gigafactory planned to be built in Blyth in Northumberland.\n \n \n \n \n \n Under plans presented by Recharge, the Britishvolt project will be the UK's first Gigafactory, creating a strategic economic and security asset which will play a critical role in the UK's industrial and net zero strategies. Britishvolt will provide thousands of green, skilled and local jobs that will drive local and national benefits.\n \n \n \n \n \n Under its MOU with Recharge, TVL has agreed to supply tolled lithium hydroxide to Britishvolt from its facility in Teesside. Both companies will continue good-faith negotiations, with the aim of concluding a definitive offtake and supply agreement.\n \n \n \n \n \n In add...