A coming lithium hydroxide factory on Teesside could supply the company looking to rescue plans for Britishvolt's £3.8bn gigafactory in the North East.
Tees Valley Lithium, which is building a £200m facility in Redcar, has signed a memorandum of understanding with Recharge Industries, an Australian start-up which administrators chose as buyer of the failed battery company. In an update to investors, Tees Valley Lithium - owned by Alkemy Capital Investments - said it would continue good-faith negotiations with the firm, aiming toward a definitive offtake and supply agreement.
It is hoped that Tees Valley Lithium will provide lithium hydroxide to a future Northumberland plant and another gigafactory operation Recharge is looking to launch in Geelong, Australia. Both firms have also agreed to work together on jointly sourcing lithium spodumene - a raw material - to be used at Tees Valley Lithium's refinery in Port Hedland in Australia, where it will be converted to lithium sulphate and shipped to Teesside to be turned into lithium hydroxide.
