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TVL and Glencore Sign Binding Offtake Agreement
Alkemy Capital Investments Plc, through its subsidiary Tees Valley Lithium, has secured a significant five-year binding offtake agreement with a Glencore subsidiary for battery-grade lithium hydroxide. This agreement, commencing with planned production in early 2028, covers an aggregate volume of 25,000 to 50,000 tonnes, with up to 10,000 tonnes annually. This deal is a crucial milestone for TVL's lithium refinery project in Teesside, supporting its progress towards a Final Investment Decision and construction of the UK's first large-scale lithium hydroxide refinery. Disclaimer*
About this update from Alkemy Capital Investments Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 (\"MAR\") AS IN FORCE IN THE UNITED KINGDOM PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n28 January 2026\n \nAlkemy Capital Investments Plc\n \nTVL and Glencore Sign Binding Offtake Agreement\n \nAlkemy Capital Investments plc (\"Alkemy\") (LSE: ALK) (JV2:FRA), the 100% owner of Tees Valley Lithium (\"TVL\"), is delighted to announce the signing of a five-year binding offtake agreement with a wholly-owned subsidiary of Glencore plc, for the supply of battery-grade lithium hydroxide from TVL's lithium refinery in Teesside, UK.\n \nGlencore is one of the world's largest diversified natural resources companies, with operations across more than 30 countries and a significant presence across metals, minerals and battery raw materials supply chains.\n \nPrinciple terms of the agreement:\n \n· Counterparty: Wholly owned subsidiary of Glencore Plc\n· Product: Battery-grade lithium hydroxide\n· Term: Five years\n· Aggregate Volume: Between 25,000 tonnes and 50,000 tonnes over the contract term\n· Annual Volume: Up to 10,000 tonnes per annum, subject to agreed scheduling and availability\n· Commencement: Deliveries aligned with the planned start of production, currently targeted for early 2028\n \nThis agreement contains customary commercial provisions relating to pricing, delivery and payment.\n \nProject status and milestone\n \nTVL is developing a lithium hydroxide refinery in Teesside with an initial Train 1 capacity of 25,000 tonnes per annum. The project is currently finalising its Front-End Engineering Design (FEED) study ahead of a Final Investment Decision (FID).\n \nEntering into a binding agreement with a counterparty of Glencore's scale represents a significant commercial milestone for the project and supports TVL's progress towards FID and construction of the UK's first large-scale lithium hydroxide refinery.\n \nThe supply of TVL's battery-grade lith...