Funds were secured through a crowdfunding campaign, the largest of its kind any company has undertaken in the UK this year.
British start-up Cornish Lithium has raised £5.1 million through a crowdfunding campaign, one of the largest of its kind any company has undertaken in the UK this year.
The crowdfunding was launched in early September to provide Cornish Lithium’s existing shareholders, as well as new retail shareholders, the opportunity to invest alongside theThe investment package together with the funds raised through the crowdfunding will enable Cornish Lithium to progress its hard rock lithium Trelavour project to a construction-ready status.
Operational life is pegged at 20 years, during which it would generate an average of 7,800 tonnes of lithium hydroxide a year.Cornish Lithium had hoped to begin production by 2026, which would have allowed it to take advantage of the European Union’s current push to rebuild its automotive supply chains around battery metals and foster the adoption of EVs.teamed up with France’s Imerys
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Cornish Lithium raises £5.1m through crowdfundingUK-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.
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