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Geothermal Engineering to build £43M Cornwall lithium plant in 2029

By Drooid · Sep 28, 2026, 2:46 AM UTC · How we work

Summary

Story summary

Geothermal Engineering Limited will invest £43 million in a new lithium extraction plant in Cornwall.
The plant aims to begin commercial production in 2029.
It will create about 50 direct jobs and 80 supply-chain roles.
Annual output will be ~1,500 tonnes of lithium carbonate, enough for 180,000 EV batteries.
DRIVE35 fund provided an Offer in Principle of nearly £10 million.

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Story summary

Geothermal Engineering Limited will invest £43 million in a new lithium extraction plant in Cornwall.
The plant aims to begin commercial production in 2029.
It will create about 50 direct jobs and 80 supply-chain roles.
Annual output will be ~1,500 tonnes of lithium carbonate, enough for 180,000 EV batteries.
DRIVE35 fund provided an Offer in Principle of nearly £10 million.