Geothermal Pilot Plant Commissioned

13thMarch 2022

Cornish Lithium Ltd. (the “Company” or “Cornish Lithium”), the innovative mineral exploration and development company based in Cornwall, UK, is pleased to announce that:

  • GeoCubed Ltd., a subsidiary company of Cornish Lithium, has successfully commissioned and delivered the Direct Lithium Extraction (“DLE”) Pilot Plant (the “Pilot Plant”) at Cornish Lithium’s Geothermal Waters Test Facility at United Downs; and
  • Cornish Lithium has now entered into an agreement with Geothermal Engineering Limited (“GEL”) to acquire its 10% shareholding in GeoCubed such that GeoCubed is now a wholly- owned subsidiary of Cornish Lithium.

 

The Direct Lithium Extraction Pilot Plant

The Direct Lithium Extraction Pilot Plant has been designed to process Cornish geothermal waters using DLE technologies and is the first time that a DLE system has become operational in the UK. The £4.0 million Pilot Plant is being supported by the Cornwall and Isles of Scilly Local Enterprise Partnership (“LEP”) with £2.9 million from the UK Government’s Getting Building Fund. The Pilot Plant was successfully commissioned at the end of March, on time and on budget.

Initially, the Pilot Plant will test GeoLith SAS’s (“Geolith”) Li-Capt® DLE technology and process the 140 metres3 of deep geothermal water successfully obtained during GEL’s testing at its own United Downs site last year. This is expected to confirm that lithium can be produced in Cornwall from geothermal waters, and the Pilot Plant is expected to provide sufficient information to enable the design of a commercial lithium plant in the County. During the course of 2022, different DLE technologies will be tested, utilising the Pilot Plant, with a view to establishing the preferred technology for future DLE plants in Cornwall. The Pilot Plant has been designed to be as flexible as possible and has been constructed in standard 6.1 metre (20ft) containers, enabling relocation to different sites to test new boreholes if required.

Acquisition of GeoCubed Minority Interest

Cornish Lithium has reached an agreement with Geothermal Engineering Limited (“GEL”) to acquire its 10% shareholding in GeoCubed. Following the completion of this transaction, GeoCubed will become a wholly-owned subsidiary of Cornish Lithium.

Jeremy Wrathall, CEO and Founder of Cornish Lithium, said: “We are delighted to announce that the United Downs DLE pilot plant has been successfully commissioned on time and on budget. This is testament to the hard work and commitment of the GeoCubed team and our technology partners at GeoLith. The Pilot Plant will be a great asset for the Company as we work to establish the most appropriate DLE technology with which to process Cornish geothermal waters.

“I am also pleased that we have been able to reach an agreement with GEL to acquire their shareholding in GeoCubed so that it is now a wholly-owned subsidiary of Cornish Lithium. This will allow us to fully integrate GeoCubed within Cornish Lithium and benefit from the engineering expertise of its team across our portfolio of projects. Importantly, all ten jobs that were created during the project will be retained in Cornwall.”

Minister for Levelling Up, Neil O’Brien, said: “The delivery of the UK’s first Direct Lithium Extraction Plant is an incredible example of innovation at its finest and a proud moment for the people of Cornwall.

“Backed by nearly £3 million of government funding, the Extraction Plant will contribute towards the UK’s Net Zero target and is excellent proof of levelling up in action”.

Mark Duddridge, Chair of the Cornwall and Isles of Scilly LEP said:  “This pilot plant could be a foundation for a new hi-tech battery metals industry in Cornwall, creating a secure, sustainable supply for battery and electric vehicle manufacturing in the UK, with the potential to support thousands of jobs. The LEP is delighted to have backed this project with £2.9m of Getting Building Fund investment and we hope it will pave the way for a commercial scale plant.”

For further information about Cornish Lithium, please contact:

Neil Elliot, Manager – Corporate Development: IR@cornishlithium.com

National media enquiries: cornishlithium@blytheray.com; +44 (0) 207 138 3205

Local/regional media enquiries: Jilly Easterby at Curlew PR; curlew@hotmail.co.uk; 07743 164434

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