London – Mayer Brown has advised Cornish Lithium Plc on equity funding of up to £35 million from current investors the National Wealth Fund (formerly the UK Infrastructure Bank) and TechMet Limited. In addition, the Company is launching a new fundraising round with other investors to raise up to another £21.5 million.
The new capital will allow the Company to advance its Trelavour Hard Rock Project to a construction decision and to advance towards commercial scale drilling at its Cross Lanes Geothermal Project in support of the development of the UK’s critical minerals supply chain.
Completion is subject to certain regulatory approvals, as well as shareholder approvals.
Mayer Brown previously advised Cornish Lithium on its first direct equity investment from the (then) UK Infrastructure Bank in 2023.
The team was led by Corporate & Securities consultant Rob Hamill and included senior associate Sam Gregory and associate Conor McDonald (all London).