MoU for Lithium metal that takes little to process !!!26 Apr 2023 09:16
MOU with Altilium Metals for lithium sulphate feedstock and lithium hydroxide offtake
Alkemy Capital Investments plc ("Alkemy") (ALK:LSE) (JV2:FRA) and its wholly-owned subsidiary Tees Valley Lithium Limited ("TVL") are pleased to report that TVL has entered into an MOU with Altilium Metals Limited.
HIGHLIGHTS
· Altilium Metals is a UK based clean tech group whose planned battery recycling facility in Teesside will have capacity to process scrap from 150,000 EVs and to produce 30,000 tonnes of Cathode Active Material per year, enough to power 20% of new EVs produced in the UK by 2030, making it one of the largest in Europe
· TVL and Altilium Metals have agreed to collaborate on the supply of lithium sulphate feedstock to TVL from Altilium Metals' battery recycling facility and will also investigate the supply by TVL of lithium hydroxide for Altilium Metals' planned Cathode Active Materials production facility, also in Teesside
· TVL and Altilium Metals will also work together to source further lithium feedstock and to collaborate to ensure a sustainable and robust battery supply chain of Cathode Active Materials to the North East of the UK
Altilium Metals, a clean energy group focused on supporting the transition to net zero, and TVL, developers of the UK's first and Europe's largest lithium hydroxide processing facility, have entered into a MOU which will see the two companies collaborate to establish a sustainable and robust supply chain of critical battery minerals in the North East of England.
Under the terms of the MOU, TVL will investigate the supply of lithium hydroxide to Altilium Metals' planned cathode active materials ("CAM") production facility in Teesside. There it will be combined with critical metals recovered from end-of-life batteries and gigafactory scrap to produce CAM, the key component in the production of lithium-ion batteries, giving full battery circularity.
TVL's processing hub at the Wilton International Chemicals Park is in close proximity to Altilium Metals' planned battery recycling facility, also located in Teesside, that will have capacity to process scrap from over 150,000 EVs per year, making it one of the largest in Europe and the only one of its kind in the UK.
The two companies will also collaborate on the supply of lithium sulphate recovered from battery waste to TVL's refinery.
By sourcing raw materials recovered from battery waste in the UK, TVL will further reduce the carbon footprint of its refinery, by reducing its reliance on imported feedstocks. According to recent analysis by McKinsey, the carbon emissions of recycled battery materials are about four times lower than for newly mined battery materials. TVL aims to supply its UK and European customers with the world's lowest-carbon lithium hydroxide.
TVL plans to produce 96,000 tonnes of premium, low-carbon lithium hydroxide annually at its processing hub in
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