Cornish Lithium has secured new equity investment backed by the UK’s National Wealth Fund (NWF) and existing partner TechMet, providing a boost to its efforts to advance two major lithium projects in Cornwall towards commercial production. The funding aims to strengthen the UK’s position in the global battery materials supply chain, supporting its transition to a net-zero economy.
The company plans to direct the capital towards its Trevalour Lithium Project, where it operates a £15 million demonstration plant producing lithium hydroxide from granite extracted from an old clay pit. The funds will help complete a feasibility study and refine the company’s low-carbon processing technology ahead of a construction decision.
See also: Cornish Lithium Opens Demonstration Plant to Boost UK Lithium Production
Additionally, Cornish Lithium will progress its Cross Lanes Geothermal Lithium Project, which could become the UK’s first commercial geothermal lithium production facility, using Direct Lithium Extraction (DLE) to recover lithium from geothermal brines.
“We are delighted to have the continued backing of NWF and TechMet,” said Jeremy Wrathall, Founder and Executive Chairman of Cornish Lithium. “This funding marks an exciting step forward as we move closer to construction decisions at our flagship projects. These new funds will enable Cornish Lithium to continue the journey towards securing a supply of lithium for UK industry and supporting the development of the domestic battery industry.”
See also: Cornish Lithium Raises £53.6 Million in Funding for Innovative UK Lithium Mining Project
Ian Brown, Interim CEO of the National Wealth Fund, added: “A resilient domestic supply chain of lithium is critical as we transition towards net zero. Our financing will help Cornish Lithium progress towards commercial production, creating good year-round jobs, boosting local economic growth and helping ground Cornwall as an industrial cluster for critical minerals.”
The investment marks a revival for Cornwall’s long-dormant mining sector, once a hub for tin and copper production. With demand for electric vehicles and battery materials rising, Cornwall’s mineral resources could once again play a key role in powering the UK’s clean energy future.
