https://www.miningweekly.com
Automotive|Construction|Design|Energy|Engineering|Infrastructure|Mining|PROJECT|Projects|Water|Infrastructure
Automotive|Construction|Design|Energy|Engineering|Infrastructure|Mining|PROJECT|Projects|Water|Infrastructure
automotive|construction|design|energy|engineering|infrastructure|mining|project|projects|water|infrastructure

Cornish Lithium raises £5.1m through crowdfunding

26th September 2023

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

UK-based Cornish Lithium has raised £5.1-million through crowdfunding on a platform called Crowdcube, marking it as one of the largest crowdfunding endeavours undertaken in the UK this year.

Cornish launched the crowdfunding to provide exiting shareholders, as well as new retail shareholders, the opportunity to invest alongside a landmark £53.6-million fundraise announced on August 8 by UK Infrastructure Bank, Energy and Minerals Group, and TechMet.

Existing shareholders received priority access to the financing round with Crowdcube, who proceeded to invest a hefty £1-million in just 27 minutes.

The funds raised, coupled with the investment package, enables Cornish to progress its hard rock lithium project, in Cornwall, to construction-ready status.

The funds will also be used to complete engineering design work required to build a demonstration-scale geothermal water extraction facility.

“The proceeds of the crowdfunding along with those from our landmark investment package will give us the balance sheet strength to materially progress our projects in order to provide a secure, domestic source of lithium and support the UK’s automotive sector’s shift to electric vehicles, while providing long term career opportunities for the communities around the project,” comments Cornish CEO and founder Jeremy Wrathall.

Cornish Lithium is one of several projects that seek to revive Cornwall’s 4 000-year-old mining heritage.

 

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

Comments

Latest News

A Skydio drone and Boston Dynamics robot dog
Dwyka highlights new drone technology at showcase
Updated 1 hour 24 minutes ago By: Darren Parker

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Resources Watch
Resources Watch
19th June 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.168 0.202s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: