From the TVL website- a statement from Paul Atherly6 Aug 2025 09:52
Here’s what he has to say:
"Over the past few months, we’ve made meaningful progress behind the scenes, and today I want to personally share why I’ve chosen to back the next phase of development for Tees Valley Lithium.
We’re now deep into the FEED study, with engineering and cost work progressing well. We’ve secured our feedstock, have advanced discussions with Tier 1 off takers, and continue to work closely with ABG Sundal Collier on the debt financing package.
Alongside that, we’ve been working with Ara Partners, a credible, specialist investor focused on industrial decarbonisation, who have undertaken months of technical, commercial, and strategic due diligence. That process has now led to an indicative term sheet outlining their interest in leading the full $100 million equity investment at the construction stage.
This progress has given me the confidence to personally back the FEED phase. Through a secured £5 million facility, Alkemy can fund the fullFEED study while retaining 100% ownership of TVL, ensuring we protect early-stage value for shareholders and only introduce external equity when it matters most.
The proposed structure with Ara, currently in final negotiation, includes a right of first refusal framework and a clear milestone path aligned with our Final Investment Decision (FID) in Q1 2026. It gives Ara the option to deploy capital at construction and gives Alkemy the ability to advance TVL with strong institutional alignment.
We’d like to thank Ara Partners for their detailed engagement to date and the time and expertise they and their advisors have committed to the process. We look forward to continuing to work closely together as we progress toward construction."
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