“The record levels of lithium found at United Downs is a hugely exciting development that will be critical in supporting the UK’s electric car market as we transition to net zero. Lithium is a key component of electric vehicle batteries that will be increasingly essential as diesel and petrol cars are phased out. The news highlights Cornwall’s significant renewable energy resource, and we hope the United Downs project, which we are proud to have funded, will set a precedent for further geothermal exploration in the UK.”

“We are extremely excited by the high concentration of lithium that we have found in our geothermal wells in Cornwall as it will enable us to produce meaningful quantities of lithium without damaging the environment. Our ability to produce both lithium and zero-carbon baseload power will provide a foundation for the electric car market to be truly sustainable in the UK. The importance of our projects is now being recognised by the Government with recent grant funding awards and secure contracts for the electricity we produce. This is helping us to secure the further investment required for a rapid roll out of projects to enable the UK to reach its ambitious targets. Cornwall is in a unique position in hosting these significant lithium and geothermal reserves. We hope that establishing Cornwall as a significant hub for lithium-related activities alongside its exciting geothermal potential, new job opportunities and significant economic growth will be brought to the region.”