Alkemy Capital Investments plc has announced that its subsidiary, Tees Valley Lithium Limited, has signed a lithium supply heads of terms agreement with international trading house Wogen Resources Ltd. The agreement will secure lithium feedstock for the first train of Tees Valley Lithium's proposed merchant refinery, which will be located at the Wilton International Chemical Park in the Teesside Freeport, UK. Under the agreement, Wogen will supply up to 20,000 tonnes of technical grade lithium carbonate annually for an initial period of five years. The Wilton refinery is expected to be in full production in 2026 and will create over 1,000 local jobs.

The agreement with Wogen is seen as a significant validation of the project and showcases Tees Valley Lithium's strategic drive to ensure consistency in its refining operations. The company is also in advanced discussions with other feedstock suppliers and offtake customers. The location of Tees Valley Lithium in the Wilton International Chemical Park, with its cluster of complementary businesses and excellent transport logistics, makes the refinery an attractive proposition for both feedstock suppliers and offtake customers.

John Craig, CEO of Wogen, expressed his pleasure in supporting Tees Valley Lithium and highlighted the exciting nature of the refining project within the battery sector supply chain. Non-Executive Chairman Paul Atherley emphasized the importance of the refinery in establishing a local supply chain for the UK and Europe's battery manufacturers.

Overall, the agreement with Wogen represents a significant milestone for Tees Valley Lithium as it seeks to establish the UK's first merchant lithium refinery. The company expects strong interest from potential offtake customers following independent verification of its ultra-pure battery-grade lithium products. Further agreements with feedstock suppliers and offtake customers are expected in the future.