LONDON, England, January 14, 2022 (Newswire.com) - Dale W. Wood would like to congratulate TechMet on its stellar investment in Cornish Lithium Ltd, just the latest in a series of decisions that show Brian Menell and TechMet are on track to transform the world of technology and engineering.
"I could not have imagined a better partnership than between TechMet and Cornish Lithium," global venture capitalist Dale W. Wood said. "Together, these two remarkable companies and their strong leadership are poised to make strides we could only have imagined a decade ago. I am extremely proud to be a part of it and look forward to seeing what this dream team does next."
TechMet, a private metals company backed by Wood's investment firm Dale Ventures, recently committed to an investment of up to £18 million in Cornish Lithium, an eco-technology company breaking ground through its sustainable extraction of lithium in the United Kingdom. This investment will allow Cornish Lithium to fast-track a number of its innovative projects.
"We have been extremely impressed by the innovative and talented Cornish Lithium team, which has made considerable progress over the past few years," Brian Menell, CEO and Chairman of TechMet, said. "We are excited to be supporting the next phase of development and building a long-term partnership with Cornish Lithium, which could become a cornerstone of the UK's battery metal supply chain as well as having very positive implications for Cornwall's local economy."
Among projects on the table are the construction of a beneficiation and hydrometallurgical demonstration plant, which will allow ore to be reduced in size and metals to be extracted; and progression of the Trelavour Project, which involves creating a mineral processing pilot plant to extract lithium mica concentrate from granite.
Cornish Lithium's ultimate goal is to create a domestic supply of lithium and other battery metals for the UK. TechMet's has secured controlling or significant minority positions in world-class projects across the technology metal supply chain, and the company's deep knowledge of the battery metals supply chain - combined with Menell's extensive relationships in the field - will open doors previously closed to the budding company.
"As the world transitions towards electric vehicles, a material lithium supply gap is looming, especially in the UK given the requirement for an estimated 75,000 tonnes of lithium carbonate equivalent by 2035, according to The Faraday Institution. Cornish Lithium intends to position itself as a key player in the necessary supply chains to bridge that gap," Jeremy Wrathall, CEO, and Founder of Cornish Lithium, said.
About Dale Ventures
Dale Ventures is a personal investment holding group founded by serial investor Dale W. Wood. The company partners with management teams to provide the significant strategic and analytic resources needed to build and grow remarkable companies. Dale Ventures has adopted a consultative approach that harnesses the power of innovative teams to generate groundbreaking ideas, tactics, and strategies that drive growth and build long-term value.
For more information about Dale Wood and his projects, please visit www.Dale.com and Facebook.com/DaleVentures.
Source: Dale Ventures