The Alchemy Bag is a storage item from Equivalent Exchange 2. Like the Alchemical Chest, it has 104 slots. Bags of the same color will contain the same contents, when opened by the same player.
When the Talisman of Repair is placed in it, it will repair all tools without the need of Covalence Dust at a 1 damage point/second rate. When a Gem of Eternal Density is in it, it will turn low-EMC items into high-EMC items at 10 items/second. The Black Hole Band will pull items dropped within 7 blocks radius into the bag. The Void Ring combines the abilities of the Gem of Eternal Density and Black Hole Band.