EV Metals Group plc (“EVM” or “the Company”) a global battery chemicals and technology company, advises that Fred Satow, Paul Davis and Colin Wilson of Opus Restructuring LLP have been appointed as Joint Administrators of EV Metals UK Limited (“EVM UK”) CN 11086144.
The decision to voluntarily place EVM UK into administration follows a comprehensive review of strategy undertaken by the Company in December 2023. The new strategy led to the development of a business model and plan to commercialise the UK assets by offering high quality battery materials testing and technology development services to customers in the United Kingdom, Europe and the United States of America.
Whilst progress has been made to advance customer engagement and funding initiatives, challenging market conditions have made it difficult to implement the plan within an acceptable timeframe. Directors of EVM UK will work with the Joint Administrators to deliver the best outcome possible for the business, its employees and stakeholders.
This update will not affect EV Metals Group plc as it advances its mine-to-refine strategy for which it has made significant progress with the development of its Lithium Chemicals Plant Project in the Kingdom of Saudi Arabia, as well as opportunities to secure feedstock.
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EV Metals Group plc
Luke Fitzgerald, Chief Executive Officer
luke.fitzgerald@evmetalsgroup.com
EV Metals Group plc – Media Enquiries
Garreth Young / Hannah Newberry
marcomms@evmetalsgroup.com
Charlie Jack, Hudson Sandler
EVM@hudsonsandler.com
About EV Metals Group plc
EV Metals Group plc (EVM) is a global battery chemicals and technology business committed to a clean energy future.
EVM is focused on the production of high purity chemicals required in rechargeable batteries for electric vehicles and renewable energy storage. Our business model is based on the integration of upstream (mining) and midstream (chemical refining) supply chains for critical raw minerals from geopolitically aligned sources to produce high purity battery chemicals vital to the global energy transition.
Through our mine to refine value proposition, we will offer transparent and stable supplies of high purity battery chemicals to growth markets including the Middle East, Europe and North America. This will involve upstream mining and production of intermediate products via participation and ownership of mining mineral resources, facilitated by joint ventures and long-term offtake agreements for midstream processing at our planned chemical refining plant in the Kingdom of Saudi Arabia (KSA).
Our flagship Lithium Chemicals Plant (LCP) in Yanbu Industrial City, KSA, is being developed as a midstream hub for diversification and geopolitical alignment of supply chains for electric vehicle and battery cell manufacturers. During its first stage, the LCP will produce 25,000 tonnes per annum (TPA) of battery grade Lithium Hydroxide Monohydrate, followed by an additional 22,000 TPA of high purity Lithium Carbonate (Stage 1B). The LCP will contribute towards addressing expected global supply deficits while supporting Saudi Arabia’s Vision 2030 industrialisation goals.
Incorporated in 2014, EVM is a private company with operations in Western Australia, United Kingdom and KSA.
For further information on EVM please visit www.evmetalsgroup.com.