Zak Mir talks to Gordon Stein, CFO of CleanTech Lithium, an exploration and development company advancing lithium projects in Chile for the clean energy transition, as it raises £2.4m and in the run-up to its dual listing on the ASX.

CleanTech Lithium PLC (CTL) has conditionally raised £2.4 million by issuing 15 million new shares at 16p each. The placement shares account for approximately 15.2% of the company’s expanded ordinary share capital, with each share including a warrant entitlement to subscribe for one additional share at 11p.

Most placement shares were allocated to existing institutional investors across Asia, Australia, Europe, and the UK, reflecting strong shareholder support despite challenging market conditions.

Net proceeds will be directed towards key initiatives, including advancing capital programs crucial for securing the CEOL (Chilean Special Lithium Operation Contract) at Laguna Verde, completing the project’s pre-feasibility study, and funding the company’s listing on the ASX through to completion.

Additionally, the funds will support efforts to enhance market visibility, attract a broader investor base, and finalize the first-stage direct lithium extraction (DLE) pilot plant. The company aims to produce significant quantities of battery-grade lithium carbonate to introduce to potential off-takers and strategic partners, while also covering general working capital requirements.

To accommodate further demand, CleanTech Lithium has granted a broker option to Fox-Davies, allowing investors to participate in the placement until 5:00 PM on 25 February 2025.