A company behind a project to extract huge amounts of lithium from Cornwall has raised £35m in equity funding.

Mineral development business Cornish Lithium said the round included up to £31m from the government-backed National Wealth Fund.

The company’s long standing institutional investor, TechMet, was also a participant in the raise, which is subject to shareholder approval,

The Penryn-based firm is working to extract lithium - key for making batteries for electric vehicles as well as smartphones and laptops - using a new technology, which it claims will produce fewer carbon emissions than other processes used worldwide.

It said the latest investment would be used to progress its Trelavour Lithium Project towards a construction decision and its Cross Lanes Geothermal Lithium Project

See Full Page