Recharge Industries™ Signs MOU with Tees Valley Lithium
Recharge Industries™ just signed a Memorandum of Understanding (MOU) with Tees Valley Lithium (TLV) to supply Lithium Hydroxide. TLV is a wholly owned subsidiary of Alkemy Capital Investments plc.
Through this MOU, TVL has agreed to supply tolled lithium hydroxide to Recharge Industries™ from its facility in Teesside, in Northern England. Both companies will continue good-faith negotiations, aiming toward a definitive offtake and supply agreement.
In addition, both TVL and Recharge Industries™ have agreed to work together to jointly source lithium spodumene to be used in TVL’s refinery in Port Hedland, Western Australia for conversion to lithium sulphate to be shipped to Teesside, UK for conversion into lithium hydroxide.
Recharge Industries™ has sought the support of TVL to safeguard the supply of critical minerals into its Geelong (Avalon), Victoria, Australia gigafactory and for its future Northumberland gigafactory. The significant offtake envisaged under the MOU enables long term planning and production forecasting and strengthens its own battery offtake agreements and existing supply chain. Recharge Industries™ will make its supply of lithium hydroxide available to its active Cathode supplier.
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