Edwin Coe is delighted to announce that it has advised Fox-Davies Capital as sole Broker, and Beaumont Cornish as Nominated Adviser, in the admission of CleanTech Lithium PLC to AIM with a successful placing of 18,666,667 Ordinary Shares raising £5.6 million, giving it a market capitalisation at admission, of £23.7m.
Jersey based CleanTech Lithium PLC is involved in the exploration and development of lithium, which is a core component of batteries needed for the rapidly growing electric vehicle market. The company plans to produce commercial scale quantities of battery grade lithium, with near zero emissions, through the development of the Laguna Verde and Francisco Basin projects in Chile, with production projected to commence in 2024. CleanTech Lithium uses a new process called Direct Lithium Extraction which minimises the environmental impact of the metal’s extraction.
Edwin Coe’s team was led by Daniel Bellau who commented, “It was a pleasure to work with the teams at Beaumont Cornish and Fox-Davies Capital on this successful IPO. Congratulations to CleanTech Lithium and I wish them success in their forthcoming projects.”
You can read CleanTech Lithium’s news release on their website.