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UK geothermal developer seeks £600mn to expand into lithium in Cornwall

GEL joins race to cash in on region’s mining revival
Geothermal Engineering Ltd is racing to deliver electric power to the grid by the fourth quarter of 2024, which would make it the first in the UK to do so.

The developer set to launch the UK’s first ever geothermal electricity plant — a new form of clean energy — in Cornwall is also planning to extract lithium as the race to cash in on the region’s mining revival gathers pace.

Geothermal Engineering Ltd (GEL) is seeking to raise £600mn to build multiple sites and diversify into lithium — a metal vital for electrification — by 2030.

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