CleanTech Lithium is enhancing the process of supplying battery-grade lithium from Chile with cleaner methods

2 min read | October 09, 2024 04:58 AM PDT | By Team Kalkine Media

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CleanTech Lithium is enhancing the process of supplying battery-grade lithium from Chile with cleaner methods — Image source: Shutterstock

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Highlights:

CleanTech Lithium PLC has successfully raised £2.5 million through an oversubscribed placing, aimed at interim funding while pursuing a listing on the Australian Stock Exchange.
The company’s flagship Laguna Verde project has made significant progress, with its Pre-Feasibility Study and the operation of a Direct Lithium Extraction (DLE) pilot plant producing lithium chloride with low impurities.
CleanTech Lithium aims to be the first private-sector lithium producer in Chile by initiating production at Laguna Verde by 2027, supporting the country's goal to increase lithium output by 70% by 2030.

CleanTech Lithium PLC {OTC:CTLHF} is an exploration and development company dedicated to advancing sustainable lithium projects in Chile. The company's mission is to become a leading supplier of clean battery-grade lithium for the global energy transition, focusing on the innovative Direct Lithium Extraction (DLE) technology powered by renewable energy sources.

Recently, CleanTech Lithium announced a successful £2.5 million fundraising through an oversubscribed placing, issuing shares at a 23% discount to the closing price prior to the announcement. This funding will provide interim support as the company seeks to list on the Australian Stock Exchange. Regal Funds, a significant stakeholder, participated in this funding round, demonstrating confidence in the company's vision for responsible lithium development.

Operationally, CleanTech Lithium has made considerable strides in its flagship Laguna Verde project. The Pre-Feasibility Study is progressing well, and the DLE pilot plant is fully operational, producing lithium chloride with low impurities, which is crucial for maintaining high quality in battery production.

The company has also received priority from the Chilean government for its special lithium operating contract process, positioning CleanTech Lithium as a frontrunner in the region. With plans to initiate production by 2027, the company is well-prepared to contribute to Chile's ambitious target of increasing lithium output significantly by 2030. The DLE technology employed by CleanTech Lithium aims to reduce water usage, ensuring that environmental sustainability remains a core component of its operations, while fostering strong community ties essential for long-term success in the lithium sector.

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