Alkemy Capital Investments plc's (LSE:ALK) wholly owned subsidiary, Tees Valley Lithium, has published an Economic, Environmental and Social Impact Report setting out the anticipated contribution of its proposed lithium hydroxide refinery at Billingham, Teesside.
The Report draws on TVL's FEED study and a preliminary independent life cycle assessment and assumes a planned capital investment of approximately US$243m (£185m), projecting £2.1bn of UK GVA over 25 years (nominal) and around £1bn GVA for Tees Valley/North East on a discounted basis.
TVL says the facility would avoid approximately 1.06m tonnes per annum of GHG emissions by supporting a switch from ICE to EV and save around 300,000 tonnes of CO2 per year versus Chinese-refined lithium hydroxide from hardrock feedstock.
The report forecasts around 1,700 jobs supported across construction, operations and the supply chain, around 80% of direct operational roles suitable for non-graduates, and 100% of operational roles paying above the Tees Valley median salary.
TVL plans to run the refinery on 100% renewable electricity from day one and highlights Billingham's port, utilities and chemical cluster infrastructure as key enablers identified in the FEED.
The company says the project aligns with UK Government priorities, including the Critical Minerals Strategy, the zero-emission vehicle mandate and the levelling-up agenda for the North East.
Projections are illustrative of current Train 1 plans, are not a profit forecast and remain subject to financing arrangements and a positive final investment decision, the company noted.
"This report gives the clearest picture yet of what TVL's Billingham facility means in practice: over £11 of economic value for every £1 invested, close to 1,700 jobs, and a facility designed from day one to be among the lowest-carbon producers," TVL CEO Vikki Jeckell said.
