Alkemy Capital Unit Receives Up to GBP18 Million UK Grant Offer for Lithium Refinery

04:45 AM EDT, 09/17/2026 (MT Newswires) -- Alkemy Capital Investments' (ALK.L) Tees Valley Lithium secured an offer in principle for a capital grant of up to 18.3 million pounds sterling from the UK government for its merchant lithium refinery at the Billingham chemical complex in Teesside, the UK. The funding from the government's DRIVE35 Automotive Transformation Fund will support the 185 million-pound first phase development, strengthening the project's financing position, according to a Thursday release. The offer remains subject to final approvals. The initial phase of the critical minerals company's planned facility is expected to produce 25,000 tonnes of battery-grade lithium hydroxide monohydrate per year.