10th Apr 2026 14:36
Marechale Capital PLC - London-based adviser and financing provider for consumer brands, leisure, clean energy, mineral extraction and technology companies - Notes that its investee company Weardale Lithium Ltd has secured a GBP700,000 grant through the UK government's "DRIVE35 Scape-Up: Feasibility Studies" competition, which supports the next phase of development at its geothermal lithium project in County Durham.
Marechale says: "The grant funding provided by UK government will enable Weardale to undertake a detailed feasibility study to map its geothermal lithium-bearing brinefield within the North Pennine Orefield, de-risking future commercial deployment of direct lithium extraction technology and informing long-term wellfield design and commercial production strategy."
It adds: "By advancing subsurface characterisation and technical modelling, the feasibility study represents an important step towards establishing a domestic source of battery-grade lithium carbonate, reducing reliance on imported raw materials and strengthening the resilience of the UK's electric vehicle manufacturing base."
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By Tom Budszus, Alliance News slot editor
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