Weardale Lithium Ltd has secured a government joint funding package of £613,000 for its geothermal brine exploration assets in Durham.
SUPPLIES
The money, shared with mid-stream company Tees Valley Lithium Ltd, includes a £430,000 grant from Innovate UK.
Both companies are building on the memorandum of understanding signed last year to evaluate producing and refining lithium in the northeast of England.
Funding will advance feasibility studies, increase activities to further a battery-supply chain industrial hub and evaluate the potential for Weardale Lithium to supply resource to Tees Valley Lithium.
LARGE SCALE
“Weardale Lithium has the objective to become a UK supplier of lithium from geothermal brines,” added chief executive officer Stewart Dickson.
“Having been the first company to produce lithium carbonate from geothermal brines in the North East earlier this year, we are entering a scale-up phase.
“This collaboration with Tees Valley Lithium is highly-beneficial for both parties as we both seek to advance towards larger scale testing and construction of pilot facilities.
“A local supply of high-value critical minerals products should generate highly skilled science, technology and engineering opportunities and at the same time, reducing the environmental impacts and supply risks of imported raw materials”.