TVL and E3 Lithium Refining Partnership
Alkemy Capital Investments PLC
08 July 2026
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION NO. 596/2014 ("MAR") AS IN FORCE IN THE UNITED KINGDOM PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN.
8 July 2026
Alkemy Capital Investments Plc
TVL and E3 Lithium Refining Partnership
Alkemy Capital Investments plc ("Alkemy") (LSE: ALK), the 100% owner of Tees Valley Lithium Ltd ("TVL") is pleased to announce that TVL has entered into a non-binding Heads of Terms with E3 Lithium Ltd. ("E3"), a Canadian lithium development company, setting out the commercial framework for a proposed long-term refining partnership.
The Heads of Terms sets out the framework under which E3 would utilise TVL's UK lithium hydroxide conversion capacity in the UK to convert lithium carbonate from its Clearwater Project in Alberta, Canada into battery-grade lithium hydroxide for supply to E3's customers.
The proposed arrangement would provide E3 with access to a Lithium Hydroxide supply chain to diversify both the geographical reach and the lithium chemistries available to it's customers, while further demonstrating demand for TVL's independent merchant refining model.
Highlights
· Non-binding Heads of Terms signed for a refining partnership
· Up to 50,000t over an initial 10-year term
· Provides E3 access to supply battery-grade lithium hydroxide into the high growth European market via TVL's UK refinery.
Strategic significance
The proposed partnership gives commercial effect to the deepening cooperation among allied nations on critical minerals, from the UK-Canada critical minerals cooperation agreement signed in 2023 to the G7 Critical Minerals Action Plan launched in Alberta in June 2025. By anchoring lithium conversion capacity in the UK, the partnership supports the UK Critical Minerals Strategy's ambition to grow domestic processing capability and reinforces TVL's position as an independent merchant lithium refiner at the heart of a resilient transatlantic supply chain.
The Heads of Terms builds on TVL's previously announced binding offtake agreement with a wholly owned subsidiary of Glencore plc for up to 10,000 tonnes per annum of battery-grade lithium hydroxide and supports TVL's strategy of a diversified customer base.
Sir Chris Bryant, MP and UK Minister of State at the Department for Business and Trade, commented:
"We need critical minerals for everything, from the phones we use to the cars we drive, and this agreement brings to life our thriving critical minerals collaboration with Canada which will help boost domestic production, drive economic growth and build more resilient supply chains.
This is our Critical Minerals Strategy in action: forming dynamic relationships with partners across the world to boost our economic security and helping build more sustainable and diversified supply chains for critical minerals."
Vikki Jeckell, CEO of Tees Valley Lithium, commented:
"This refining partnership with E3 Lithium marks another important step in demonstrating the demand for Tees Valley Lithium's independent merchant refining model alongside our previously announced binding offtake agreement with Glencore."
Chris Doornbos, CEO and Chair of E3 Lithium, commented:
"This agreement gives E3 meaningful optionality as we negotiate with potential offtake partners. This framework provides a potential pathway to serve hydroxide demand while we continuing to focus on our speed to market and enhanced capital efficiencies for our carbonate production. We look forward to our ongoing collaboration with TVL."
About E3 Lithium Ltd.
E3 Lithium is a lithium development company with a total of 21.2 million tonnes (Mt) of lithium carbonate equivalent (LCE) Measured and Indicated as well as 0.3 Mt LCE Inferred mineral resources in Alberta, Canada. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV(8%) of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV(8%) of USD 3.7 Billion with a 24.6% IRR.
Further information
For further information, please visit Alkemy's website:www.alkemycapital.co.ukor TVL's websitewww.teesvalleylithium.co.uk.
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Alkemy Capital Investments Plc |
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ABOUT US
Alkemy Capital Investments plc: Alkemy is focused on the development of critical mineral infrastructure to support the global energy transition. Through its wholly owned subsidiary, TVL, Alkemy is leading the way in establishing Europe's first independent lithium hydroxide refinery.
Tees Valley Lithium Limited: is building a £185 million merchant lithium refinery in the Billingham chemical cluster Teesside which will refine high value domestic and international feedstock into 25,000 tonnes per year of battery-grade lithium using Veolia's commercially validated process technology - enough to support the production of 550,000 electrical vehicles.
Forward Looking Statements
This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and Alkemy provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although Alkemy believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. In addition, factors that could cause actual events to differ materially from the forward-looking information stated herein include changes in market conditions, changes in metal prices, general economic and political conditions, environmental risks, and community and non-governmental actions. Such factors will also affect whether Alkemy will ultimately receive the benefits anticipated pursuant to relevant agreements. This list is not exhaustive of the factors that may affect any of the forward‐looking statements. These and other factors should be considered carefully and readers should not place undue reliance on forward-looking information.
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