Alkemy Capital soars as Tees Valley Lithium lines up funding

Mon, 12th May 2025 12:10

(Alliance News) - Alkemy Capital Investments PLC shares surged on Monday as it said it has entered an exclusivity agreement with private equity firm Ara Advisers LLC for a proposed investment in Alkemy's subsidiary Tees Valley Lithium Ltd.

The London-based investment vehicle said the agreement gives Ara the sole right to negotiate terms for a strategic investment in wholly-owned subsidiary TVL by the end of July.

Shares in Alkemy Capital Investments soared 43% to 165.00 pence in London at midday on Monday.

TVL is developing the UK's flagship lithium refining facility to support the growing demand for battery-grade lithium products across electric vehicles and energy storage systems.

Alkemy said the investment would provide full funding to complete TVL's front-end engineering design study and cover the equity required for the project to reach its final investment decision.

The company said TVL has already completed key optimisations and is advancing its FEED study.

Alkemy said this includes an increase in planned output for Train 1 to 25,000 tonnes per annum of battery-grade lithium hydroxide.

"We are delighted to be working with Ara Partners as a potential equity partner in TVL. Ara has a strong track record of supporting early-stage companies and helping them scale into successful, operational businesses," said Alkemy Chair Paul Atherley.

"We believe their funding capability and deep experience, makes them an excellent fit for TVL as this pivotal stage of its development. Ara's decision to secure exclusivity is a clear vote of confidence in our team, our model, and our vision for the UK's flagship lithium refinery."

By Michael Hennessey, Alliance News reporter

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Alkemy Capital.