Geothermal Engineering Limited (GEL) plans to produce significant quantities of zero-carbon lithium.
Recent tests conducted at the United Downs power plant site in Cornwall have revealed substantial lithium concentrations in the geothermal fluid.
GEL, primarily focused on providing baseload geothermal electricity and heat, intends to extract lithium sustainably from its geothermal brine as a by-product of its power projects.
The company aims to utilise ‘zero-carbon’ geothermal power for the extraction process, bypassing conventional and environmentally impactful lithium production methods.
The lithium production target is set at approximately 250,000 electric car batteries per annum.
GEL plans to initiate production in 2024, backed by recent funding from the government’s Automotive Transformation Fund.
The company has engaged Nomura Greentech to raise funds to support its expansion, with ambitions to reach over 12,000 tonnes per annum by 2030.
Ryan Law, Chief Executive Officer of Geothermal Engineering Ltd, said: “Our ability to produce both zero-carbon lithium and zero-carbon baseload power will provide a foundation for the electric car market to be truly sustainable in the UK