Alkemy Capital Investments (ALK) H2 2026 earnings summary

Executive summary

• Advanced development of a UK lithium refinery through subsidiary TVL, targeting battery-grade lithium hydroxide for European EV and energy storage markets.

• Achieved key milestones: FEED study completion, binding offtake with Glencore, and strategic site secured in Teesside.

• Entered exclusive negotiations for long-term feedstock and strategic investment, and secured significant debt and equity financing commitments.

Financial highlights

• Loss for the year after tax: £2.49m, up from £1.43m in the prior year.

• Administrative expenses increased to £1.71m (2025: £1.23m); project development expenses rose to £175k (2025: £65k).

• Cash and cash equivalents at year-end: £153k (2025: £17k).

• Intangible assets (project development costs) increased to £3.76m (2025: £0.51m).

• No dividend recommended for the year.

Outlook and guidance

• Focus on securing project-level financing to reach final investment decision for the Teesside refinery.

• Ongoing discussions with financial institutions and strategic partners for $245m capex funding.

• Anticipates increased funding needs if project financing is secured and construction commences.