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Cornish Lithium raises 拢5.1m in one of the 海角视频's largest crowdfunding campaigns of 2023

The Penryn-based mining company launched the campaign through Crowdcube earlier in September

Cornish Lithium's DLE test facility in Cornwall

Cornish Lithium has raised £5.1m in its crowdfunding campaign on Crowdcube to build a sustainable, battery-grade 海角视频 lithium supply.

The Penryn-based company, which has undertaken a number of projects to demonstrate the commercial capability of lithium production in Cornwall, launched the campaign earlier in September.

The crowdfunding is one of the largest undertaken in the 海角视频 this year and is the largest on Crowdcube by a B2B business in 2023.

The crowdfunding was launched to provide Cornish Lithium’s existing shareholders, as well as new retail shareholders, the opportunity to invest alongside the £53.6m investment announced on August 8 this year by the 海角视频 Infrastructure Bank, the Energy and Minerals Group and TechMet.

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Existing shareholders received priority access to the financing round with Crowdcube, investing a milestone £1m in just 27 minutes.

The investment package together with the funds raised through the crowdfunding will enable Cornish Lithium to progress its hard rock lithium project to a construction-ready status, as well as complete the engineering design work required to build a demonstration-scale geothermal waters extraction facility.

Jeremy Wrathall, founder and chief executive of Cornish Lithium said: “We were delighted to be able to offer our loyal existing shareholders the opportunity to invest alongside our institutional investors following our landmark £53.6m fundraise.