The landmark $67M fundraising included the first-ever direct equity investment by the UK Infrastructure Bank (UKIB) in this sector and provides a roadmap for other businesses seeking government-backed co-investment in such deals.

The arrangement balanced the needs of six different stakeholders and included a retail share offering. The deal serves as a model of viable co-investing between energy businesses, private investors, and clean energy-focused, government-backed entities on climate-related infrastructure projects.

From Cornwall’s hard rock and geothermal waters, Cornish Lithium will extract lithium, a vital component of electric vehicle-grade batteries. With the UK currently relying entirely on imported lithium, this will give the nation a more secure supply of the rare metal.

In developing Britain’s most advanced lithium mine, the enterprise aims to create hundreds of local jobs—reviving Cornwall's 4000-year-old mining heritage—and could position the UK as a lithium supply hub for Europe.

This deal supports the UK’s ambition to secure a larger share of the lithium-battery supply chain through sustainable mining ventures, improving domestic production of EV batteries and reducing the energy required for imports.