Cornish Lithium and IGas Energy have agreed to jointly evaluate potential sites for geothermal heating and lithium extraction in the UK.
Cornwall-based Cornish Lithium has announced coming to an agreement with British energy company IGas Energy PLC (IGas) to jointly evaluate suitable sites for the commercial development of geothermal heating. The possibility of extracting lithium from geothermal waters will also be explored.
Cornish Lithium has secured extensive land and mineral rights agreements in the South West of England, and has developed 3D models of the sub-surface geology and mineral potential of the region utilising historic records combined with data from modern sources such as satellite imagery, geophysical data and drone mapping.
IGas will bring its experience of well design, drilling, and operational management to the projects. As we reported in 2020, IGas acquired geothermal heat project developer GT Energy UK Limited (GT Energy), allowing the company to diversify into the wider UK energy market.
A technical and commercial evaluation of a number of potential project locations is underway, which should result in an initial project location being identified. IGas and Cornish Lithium will then jointly develop the initial project location as a pilot scheme.
“We are excited to be working with the team at IGas. The combination of our understanding of Cornwall’s geology and IGas’s understanding of geothermal heat projects will be mutually beneficial to both companies,” said Founder and CEO of Cornish Lithium Jeremy Wrathall.
“This collaboration with Cornish Lithium is another important step in our drive to diversify and leverage our operational expertise. This complements the ongoing work on hydrogen production and carbon storage and further augments our geothermal business,” commented IGas Chief Executive Stephen Bowler.
