Business
TVL FEED Study
Alkemy Capital Investments Plc's subsidiary, Tees Valley Lithium, has completed a Front-End Engineering Design study for its lithium hydroxide refinery, confirming a projected capital expenditure of $243.6 million and annual EBITDA of $65.9 million. The study indicates the project's capital intensity is at the lower end of the global cost curve and significantly below comparable European projects, with an updated annual operating cost estimate of $33.2 million. The refinery is designed to produce 25,000 tonnes per annum of battery-grade lithium hydroxide monohydrate, supporting the growing European electric vehicle and battery supply chain. The company has also purchased the industrial plot for the facility, which will support future expansion phases. 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.\n3 February 2026\nAlkemy Capital Investments Plc\nTVL FEED Study Confirms Low Capex and Strong Economics\n \nTees Valley Lithium Limited (\"TVL\"), a wholly owned subsidiary of Alkemy Capital Investments plc (\"Alkemy\") (LSE: ALK) (FRA: JV2) is pleased to announce the outcomes of its Front-End Engineering Design (\"FEED\") programme for its proposed lithium hydroxide refinery in Teesside, UK.\n \nTVL's projected capital intensity positions it at the lower end of the global cost curve and materially below that of comparable European lithium refining projects. It also has strong economics with a Capex of US$243.6 million and an EBITDA of US$65.9 million per annum.\n \nThe FEED work has delivered a defined technical and commercial framework for TVL's initial production train, providing the necessary clarity to support financing, contracting, and progression to Final Investment Decision (\"FID\").\n \nProject Overview and Market Context\n \nTVL's proposed facility is designed to produce 25,000 tpa of battery-grade lithium hydroxide monohydrate (\"LHM\") for the European electric vehicle and battery supply chain. European battery manufacturing is forecast to exceed 900GWh per annum by 2030,1 driven by committed gigafactory developments across the UK and mainland Europe and underpinned by long-term policy support for electrification and energy transition.\n \nThis level of capacity equates to an estimated lithium requirement of approximately 720,000 tpa of Lithium carbonate equivalent (\"LCE\")2 by 2030. Against this backdrop, TVL's initial production train would represent less than 3% of projected European lithium chemical demand, with the potential to increase this share through phased capacity.\n \nThis demand growth continues to drive the need for secure, domestic lithium chemical refining capacity capable of supporting European battery manufacturers with reliable, low-carbon supply.\n \nFEED Outcomes\n \nThe FEED programme has established the basis of design for...