UK Infrastructure Bank, a British state-owned development bank, led a $67m funding round in Cornish Lithium, a mineral exploration and development company, with participation from The Energy & Minerals Group and TechMet. “Our investment in Cornish Lithium perfectly encapsulates a key part of our mission – to drive forward new and emerging markets that the UK will rely on to meet its net zero goals, and which will deliver an enduring and positive impact on local economies. Globally the supply of lithium is far outpaced by demand, and yet in the UK it remains a nascent market. Our investment has already crowded-in private sector financing which will greatly accelerate domestic production of a mineral which is critical to the future of EV battery production and decarbonisation of the transport sector. This model of investment is fundamental to the success of the UK’s transition to net zero,” John Flint, UK Infrastructure Bank CEO.