Cornish Lithium Secures £35m Funding to Advance Cornish Projects

Published On: 24 September 2025Last Updated: 24 September 2025By CornishStuff

📷 Inside Cornish Lithium's Trelavour Demonstration Plant - Credit: Cornish Lithium

Cornish Lithium has announced it has secured £35 million of equity funding to take its projects in Cornwall to the next stage of development.

The new investment includes up to £31 million from the National Wealth Fund (NWF) and £4 million from long-standing backer TechMet. The funding remains subject to shareholder approval at a General Meeting on 8th October 2025, as well as sign off from the UK Takeover Panel and approvals under the National Security and Investment Act 2021.

Progress for Key Cornish Projects

The money will be used to push forward two of Cornish Lithium’s major developments.

At the Trelavour Lithium Project, the company will now be able to complete its Feasibility Study and move towards a construction decision. At the Cross Lanes Geothermal Lithium Project, the funding will allow commercial drilling to go ahead.

Importantly, the company says the investment will also help it continue testing its low-carbon processing technology at the Trelavour Demonstration Plant.

📷Cornish Lithium's Cross Lanes Exploration Site - Credit: Cornish Lithium

Crowdfunding to Follow

Cornish Lithium has also confirmed plans to open a new crowdfunding campaign on the Crowdcube platform. The fundraising is expected to launch shortly after shareholder approvals are secured on 8th October 2025.

Existing shareholders will have priority to subscribe for new shares, with opportunities for new investors to join depending on availability.

📷Cornish Lithium Trelavour Demonstration Plant - Credit: Cornish Lithium

Continued Confidence

The NWF first invested in Cornish Lithium in August 2023. This latest round of funding, which also sees TechMet return as an investor, shows continued confidence in the company’s progress towards producing battery-grade lithium in the UK.

Jeremy Wrathall, Founder and Executive Chairman, said:
“We are delighted to have the continued backing of NWF and TechMet, and to be able to offer our wider shareholder base the opportunity to invest alongside them. This funding marks an exciting step forward for Cornish Lithium as we move closer to construction decisions at our flagship projects. We have made significant progress since our last fundraising round and these new funds will enable Cornish Lithium to continue the journey towards securing a supply of lithium for UK industry and to support development of the domestic battery industry.”

Ian Brown, Interim CEO at NWF, commented:
“A resilient domestic supply chain of lithium is critical as we transition towards net zero. Our financing will help Cornish Lithium progress towards commercial production, creating good year-round jobs, boosting local economic growth and helping ground Cornwall as an industrial cluster for critical minerals.”

Brian Menell, Chairman and CEO of TechMet, added:
“Cornish Lithium and its flagship projects will play an important role in developing a secure, resilient supply of lithium for the UK, Europe, and the U.S. to feed the cornerstone industries of the 21st century economy. TechMet is proud to continue our support alongside the NWF.”