Geo40 secures up to $7.5m to fast-track lithium plans

Geothermal production at Ohaaki is throwing up an interesting opportunity.

Tue, 18 May 2021

Geo40 has secured up to $7.5 million of fresh capital to help accelerate plans to extract lithium from geothermal fluids for use in electric vehicle batteries.Early-stage investor Pacific Channel has made its biggest investment in the Taupo-based company with $2.5m, with call and put options on the remaining $5m depending on its lithium work.Geo40 recently commissioned a $22m plant on Contact Energy’s Ohaaki power plant to extract silica from the geothermal fluid, which it’s been able to expand into recovering battery-grade lithium....

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