A Letter from Our Chairman: Why I’m Backing TVL’s Next Phase
At Alkemy Capital, we’re entering a pivotal chapter in the journey of Tees Valley Lithium (TVL). As we move deeper into the FEED phase and lay the groundwork for construction, our Chairman, Paul Atherley, has shared a personal message about why he’s chosen to stand behind this next stage.
Here’s what he has to say:
"Over the past few months, we’ve made meaningful progress behind the scenes, and today I want to personally share why I’ve chosen to back the next phase of development for Tees Valley Lithium.
We’re now deep into the FEED study, with engineering and cost work progressing well. We’ve secured our feedstock, have advanced discussions with Tier 1 off takers, and continue to work closely with ABG Sundal Collier on the debt financing package.
Alongside that, we’ve been working with Ara Partners, a credible, specialist investor focused on industrial decarbonisation, who have undertaken months of technical, commercial, and strategic due diligence. That process has now led to an indicative term sheet outlining their interest in leading the full $100 million equity investment at the construction stage.
This progress has given me the confidence to personally back the FEED phase. Through a secured £5 million facility, Alkemy can fund the fullFEED study while retaining 100% ownership of TVL, ensuring we protect early-stage value for shareholders and only introduce external equity when it matters most.
The proposed structure with Ara, currently in final negotiation, includes a right of first refusal framework and a clear milestone path aligned with our Final Investment Decision (FID) in Q1 2026. It gives Ara the option to deploy capital at construction and gives Alkemy the ability to advance TVL with strong institutional alignment.
We’d like to thank Ara Partners for their detailed engagement to date and the time and expertise they and their advisors have committed to the process. We look forward to continuing to work closely together as we progress toward construction."
Join Us: Shareholder & Investor Webinar
We’ll be hosting a live investor webinar where I’ll be joined by TVL CEO, Vikki Jeckell, to share more detail on the FEED progress, funding structure, and next steps toward FID and construction.
Date: Tuesday 5th August 2025
Time: 12:00pm BST
Register here: https://us02web.zoom.us/webinar/register/WN_L4ss1hPrQtKS_53rPp5gxA
We’re proud of the momentum building around TVL and excited about what’s ahead. Stay up to date with the latest project milestones, investor news, and company updates from Alkemy and Tees Valley Lithium - subscribe to our newsletter today.
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