Cornish Lithium, a mineral development company focused on sustainable lithium extraction in the UK, has secured £35 million in equity funding from its existing institutional investors. The investment is led by the National Wealth Fund (NWF), contributing up to £31 million, alongside a £4 million commitment from long-standing supporter TechMet. This financing will propel the company’s two flagship projects into their next development phases.
The new funds will advance the Trelavour Lithium Project through its feasibility stage toward a construction decision and move the Cross Lanes Geothermal Lithium Project into commercial drilling. Specifically, the capital will enable completion of the Trelavour project’s Feasibility Study and the final testing of its low-carbon processing technology at the Trelavour Demonstration Plant. It will also support planning and operational readiness for drilling activities at Cross Lanes.
This equity round is contingent upon shareholder approval at a general meeting scheduled for October 8, 2025, as well as clearances from the UK Takeover Panel and the National Security and Investment Act. Following these approvals, Cornish Lithium plans to launch a crowdfunding campaign on the Crowdcube platform. Existing shareholders will receive priority subscription rights, with new investors invited to participate subject to regulatory limits.
Since August 2023, when the NWF made its initial equity investment, the fund has backed efforts to strengthen the UK’s critical minerals supply chain by attracting private capital. TechMet’s continued participation underscores investor confidence in Cornish Lithium’s progress and technology.
With the recent commissioning of its Demonstration Plant and planning consent secured for the Cross Lanes project, this funding round marks a significant milestone on the path to commercial lithium production in Cornwall. Executive Chairman Jeremy Wrathall commented that the investment brings the company closer to delivering a reliable, domestic lithium supply for battery manufacturing and other industrial applications.
Source: Cornish Lithium
