A major lithium hydroxide refinery - touted as Europe's largest - is set to be built on Teesside following planning permission.
Tees Valley Lithium (TVL), owned by the London Stock Exchange-listed Alkemy Capital Investments plc, has secured planning approval from Redcar and Cleveland Borough Council for its proposed 96,000 tonnes per annum factory. Construction of the factory at the Wilton International site is now due to start in 2023.
The firm hopes to supply about 15% of Europe's electric vehicle production requirement for lithium hydroxide, which is used in vehicle batteries. It has said the factory will bring 1,000 jobs to the area and has previously suggested it could generate gross revenues of £49.2bn.
