London Stock Exchange welcomes CleanTech Lithium plc to AIM

London Stock Exchange today welcomes CleanTech Lithium, an exploration and development company, advancing the next generation of sustainable lithium projects in Chile. CTL’S mission is to produce material quantities of battery grade lithium by 2024, with near zero carbon emissions and low environmental impact, offering the EU EV market a green lithium supply solution.

The Company has successfully raised £5.6m, through a placing, giving it a market capitalisation on Admission of £23.7m. The gross proceeds for the Company will be used to advance its prospective lithium projects into production.

CleanTech Lithium has two main projects, offering near-term production potential. Its Laguna Verde and Francisco Basin projects are in the lithium triangle, the world’s centre for battery grade lithium production. They are situated within basins entirely controlled by Cleantech Lithium, which affords significant potential development and operational advantages. The projects have direct access to excellent infrastructure and renewable power.

The Company is committed to using renewable power for processing and reducing the environmental impact of its lithium production by utilising Direct Lithium Extraction. Direct Lithium Extraction is a transformative technology which only removes lithium from brine, with higher recoveries and purities. The method offers short development lead times, low upfront capex, with no extensive site construction and no evaporation pond development so there is no water depletion from the aquifer or harm to the local environment.

Lithium is forecast to experience among the fastest growth rates in demand of any mineral sector. This demand is linked to the global rise in demand for Electric Vehicles.

CleanTech Lithium’s Board and management team have strong local knowledge, operational and financial markets experience with a proven track-record of delivering value to stakeholders.

Quick facts

Track
Market: AIM
Instrument market cap (£m)
20.94
Listing/Admission to trading
17 Mar 2022

CEO of CleanTech Lithium, Aldo Boitano said:

“Today represents a landmark moment for CleanTech Lithium. We are delighted to be joining the London Stock Exchange Alternative Investment Market (AIM). Our Admission to AIM will greatly support our ability to deliver value for all stakeholders from the Company’s two significant lithium projects in Chile. These assets offer a rare opportunity for investors to gain exposure to lithium projects, located within the heart of the lithium triangle, in South America.

“The projects offer near-term potential to produce battery grade lithium, which is a core component of batteries needed for the rapidly growing electric vehicle market. We aim to produce zero or near zero emissions lithium, with minimal environmental impact, creating a clear advantage in the fast-growing EU markets.

“I would like to thank existing shareholders for their continued support, as well as welcome new shareholders as part of our Admission.”

Advisers to the IPO include Fox-Davies Capital (Broker), Beaumont Cornish Limited (Nomad), Fieldfisher LLP (Legal Advisors), Crowe U.K LLP (Auditors), and Celicourt Communications (Financial PR).

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