The company with plans to launch the UK's first lithium hydroxide plant at Teesside Freeport has moved closer to signing a key supply deal with raw materials trader Traxys.
Tees Valley Lithium (TVL), which is owned by Alkemy Capital Investments, revealed the news to shareholders saying the feedstock memorandum of understanding would see Traxys supply the first production line - or 'Train 1' - of TVL's factory which is due to be operational in 2024 and producing 24,000 tonnes per annum (tpa) of battery-grade lithium hydroxide for gigafactories around Europe. It marks a significant step on the way to realising TVL's plans, which will eventually see it produce 96,000tpa - an estimated 15% of Europe's projected demand - once all four production trains are up and running.
Sam Quinn, Alkemy and TVL director, said: "We are delighted to be partnering with leading global metals trader Traxys who will supply TVL with the lithium feedstock required for TVL to become Europe's largest and lowest-carbon lithium hydroxide producer, located at the Wilton International Chemicals Park in Teesside, UK. Utilising a state-of-the-art electrochemical process route and powered by low-cost green energy, TVL will be supplying the UK and Europe with 96,000tpa of low carbon, battery-grade lithium hydroxide - the equivalent to 15% of European demand.
