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Government invests in Cornish Lithium mine for new electric technology
09 April 2021
Eco-technology company Cornish Lithium has been extended a share of the UK government’s £9.4million investment into new battery and electric vehicle technology.
The funding will be split between twenty-two studies, also including a Cheshire-based EV magnet plant and a Loughborough company creating hydrogen storage for cars and vans.
Minister for Investment Gerry Grimstone said, “We have set an ambitious target to phase out the sale of new petrol and diesel cars by 2030. To support that it is crucial we invest in research so we can power ahead with the shift to electric vehicles as we build back greener from the pandemic.
“The world leading research announced today showcases the very best of British innovation and it will support all stages of the automotive supply chain to make the switch to electric vehicles - from developing batteries, to exploring how to recycle them”.
Cornish Lithium will use their share of the funding for their project, the Trelavour Hard Rock Lithium Scoping Study, which will see the creation of a lithium extraction plant in the Duchy of Cornwall, which will extract lithium from a hard rock source in St Austell.
Lithium Hydroxide is a key element in vehicle battery production and Cornish Lithium’s study will look at the feasibility of creating a sustainable supply chain in the UK.
This research funding will allow the UK to continue to be a world leader in automotive technology and reach its goal of phasing out petrol and diesel vehicles by 2030.
The Department for Business, Energy & Industrial Strategy wrote, “Research into alternative ways to power vehicles is a fundamental part of this transition, ensuring the UK remains a world leader in automotive technology and boosting jobs and skills in regions leading the way”.
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