August 2025 Market Snapshot

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.

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Here’s what he has to say:

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"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.

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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.

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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.

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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.

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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.

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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."

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Join Us: Shareholder & Investor Webinar

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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.

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Date: Tuesday 5th August 2025
Time: 12:00pm BST
‍Register here: https://us02web.zoom.us/webinar/register/WN_L4ss1hPrQtKS_53rPp5gxA

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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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The Lithium Deficit Is Coming – TVL Is Ready to Meet the Demand

A long-term feedstock agreement that fuels the UK’s flagship lithium refinery

Tees Valley Lithium (TVL) is pleased to announce the signing of a binding feedstock agreement with Touchstone Capital Partners’ Chilean lithium project – Project Llamara, securing up to 100,000 tonnes of lithium carbonate equivalent (LCE) over a five-year period.

This agreement marks a significant step forward in TVL’s mission to deliver the UK’s flagship lithium hydroxide refinery and build a secure, low-carbon supply chain to support Europe’s transition to electrification.

Located in the Salar de Llamara in northern Chile, Project Llamara is one of the world’s most lithium-rich brine resources. Its high-grade, low-impurity brines support efficient extraction with a significantly reduced carbon footprint compared to hard rock mining, perfectly aligned with TVL’s sustainability-driven strategy.

With this long-term feedstock supply secured, TVL is now ideally positioned to advance its Front-End Engineering Design (FEED) phase and maintain momentum toward first production. Project Llamara is targeting initial output in 2026, matching TVL’s ramp-up schedule and preparing us to meet rising demand just as the global lithium market tightens.

TVL CEO Vikki Jeckell commented:

“Securing high-quality, low-carbon lithium from Project Llamara is a major milestone for Tees Valley Lithium. It gives us the confidence and credibility to push forward as the UK’s flagship lithium refinery and deliver the secure, sustainable supply our future battery customers are counting on.”

Watch the video above to hear more about what this agreement means for the future of lithium refining in the UK.

The Fastmarkets Lithium Supply & Battery Raw Materials Conference 2025 in Las Vegas brought together over 1,000 delegates and more than 500 companies, confirming its status as one of the most influential events on the global battery materials calendar.

From mining firms and government agencies to engineering specialists, battery recyclers and end-use customers, the entire lithium value chain was represented - and the message was clear: the world is waking up to the urgent need for resilient, sustainable, and regionally anchored supply chains.

Strong Interest in the TVL Opportunity

Tees Valley Lithium had a full schedule throughout the week, with back-to-back meetings reflecting growing interest from potential partners, customers, and investors. Our FEED study, feedstock strategy, and future production capacity were key talking points, with many recognising the critical role TVL is set to play in reshaping the European battery supply chain.

The conference also provided a valuable platform to strengthen existing partnerships and build new relationships with strategic players from across the ecosystem. The atmosphere was collaborative, forward-looking, and deeply aligned with the vision we are delivering in Teesside.

A Shift Towards Regional Security and Midstream Capacity

One of the most prominent themes across the event was the need for greater midstream processing capacity outside of China. As geopolitical pressures mount and demand accelerates, global markets are searching for credible alternatives, and the UK is firmly on the radar.

There was a clear focus on:

• Securing domestic and regional refining capacity
• Strengthening supply chain resilience
• Accelerating project timelines to meet surging demand
• Ensuring compliance with new sustainability and traceability regulations

These priorities sit at the heart of our project. TVL is not only aligned with where the market is heading but we are helping to define the next phase of its evolution.

Looking Ahead with Confidence

Returning from Las Vegas, we are more encouraged than ever by the momentum behind the lithium sector and the clarity of the opportunity ahead. Tees Valley Lithium is in the right place, at the right time, with the right strategy.

As we continue to progress towards first production, we remain focused on execution, engagement, and delivering long-term value for our stakeholders.