Cornish Lithium has closed its crowdfunding round on Crowdcube after raising £5.2 million in just three days.
Founder and CEO, Jeremy Wrathall, said: “We set out to raise £1.5 million. To be so massively oversubscribed in only three days is an amazing vote of confidence in Cornish Lithium, the team, and our plans for the creation, in Cornwall, of a vital new industry for the UK economy.
“Having raised more money than we expected means that we are now able to accelerate our plans to build an environmentally-responsible lithium extraction industry in Cornwall while continuing to create value for our shareholders. With this additional funding, we can accelerate our drive towards the production of lithium from our geothermal waters project and from our hard rock project near St Austell as well as to advance our exploration programme focused on other battery metals.
“On behalf of the board, I would like to thank our shareholders for their support and to welcome our new shareholders.”