Not only this, we plan to do it sustainably and we have the independent life-cycle analysis, internal expertise and strategic partnerships to get the job done. Together we're going to change lithium.
There's a stronger than ever global commitment to change to clean, sustainable and renewable sources of energy. We believe that lithium is fundamental to this change and many, including manufacturers of electric vehicles, agree.
The demand for electric vehicles continues to increase and with it comes a battery boom, which means an unprecedented demand for lithium hydroxide. By 2030, the annual global demand for lithium is forecast to be nearly 3.0 million tonnes, with the UK and EU requiring over 0.8 million tonnes of lithium.
We are dependent on East Asia. That lithium market currently consumes around 80% of its own lithium chemicals production. By 2030, this appetite will have risen to more than 100% with a forecast inability to meet its own demand. Demand is outstripping supply at pace and global events have further exposed supply chain vulnerabilities.
We are proud that our LCA demonstrates how we will successfully decarbonise the extraction and refinery process.
Drawing on the UK's appetite for innovation, we have been able to put forward tangible plans which contribute toward a solution to the impending local supply crisis.
Working closely with our partners, we‘re now well on the way to building one of Europe's first large-scale replicable lithium refining and battery recycling plants.
Our project began when founders Richard Taylor and Guy Hatcher identified a critical gap in the future UK and EU battery supply chain. This led them to undertake extensive work mapping hard-rock lithium resources and to gain a deep understanding of the lithium mineral ecosystem. Together, they worked on a plan to produce battery-grade lithium sustainably, first creating the product under lab conditions.
We have worked with key strategic partners to address the need to improve the European battery-metal supply chain, and we've been able to demonstrate how we'll support the net-zero ambitions of society to transition to a future green economy.
Our refinery is not tied to a specific mine so will take feed materials from across the world and will have end-product flexibility to meet changing market preferences.
We have a decarbonised plan to produce lithium with far lower CO2 emissions than current East Asian producers and are independently assessed at 80% below the competition.
We will unlock UK circular economy opportunities in battery recycling and will sell our by-product for reuse in green construction materials manufacturing.
Our proven, delivery-focused team of employees and external partners has a track record of successfully completing multi-billion-pound critical infrastructure projects.
We’re on track to be producing mid-way through the decade. This target coincides with the expected introduction of carbon tariffs and battery regulations for battery and car manufacturers.
Establishing ourselves as one of Europe's first centralised lithium refineries will not only help ease supply chain concerns, it will help the UK to establish itself as a leader of the electric revolution, building a clean and sustainable future for us all.
Our refining process will set new environmental standards. Clean and sustainable, our plant will have best-in-class credentials, with CO2 emissions 80% lower than existing technologies.
This lithium plant is a major step forward in the move towards a strong green circular economy. It will produce 50,000 tonnes of battery-grade lithium chemicals a year. That’s enough to meet 6% of the EU and UK‘s 2030 battery requirement and enough to enable manufacturers to build over 1 million electric vehicles.
We are on track to commence construction of the UK's first large-scale merchant lithium refinery in 2023. We are now progressing through the latter stages of the Teesside project’s development phase. As an investment opportunity, Green Lithium offers exceptional, inflation-beating returns for investors.
If you are an institutional or corporate investor and want to find out more about investing in – and potentially partnering with – Green Lithium, please do get in touch.