Alkemy Capital Investments

ALK · Main Market · Chemicals · mcap £28m · 270.0p 1 open situation →

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2026 TVL Train 1 financing and build

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Project milestones◷ in 58 days

TVL Train 1 financing and build

Indicative senior debt terms received

TVL is financing Train 1, the first 25,000 tpa production train of its Billingham lithium hydroxide refinery, via senior debt, equity and grant. A DRIVE35 grant Offer in Principle of up to £18.3m was announced on 17 Sep 2026. On 2 Nov 2026 TVL reported non-binding indicative terms for a US$150m senior secured facility; site purchase is progressing alongside financial close.

Grant: DRIVE35 capital grant Offer in Principle of up to £18.3 million, announced 17 September 2026 2 Nov 2026 ↗
Debt terms: Indicative senior secured credit facility of up to US$150 million from a US-based firm; non-binding 2 Nov 2026 ↗
Conditions: Lender due diligence, credit approval, equity and grant components in place, definitive documentation 2 Nov 2026 ↗
Equity: Balance of Train 1 funding to be met by equity; amount not stated 2 Nov 2026 ↗
Next milestone: Site purchase in line with financial close; on-site works targeted before end of 2026 2 Nov 2026 ↗
Other lenders: Discussions continuing with other prospective lenders for the best terms 2 Nov 2026 ↗

Next: Financial close and start of on-site works · 31 Dec 2026

2 Nov 2026 Indicative senior debt terms received

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