Leading European law firm, Fieldfisher, has advised CleanTech Lithium on a £12.3 million fundraising round to enable CleanTech Lithium to carry out further exploration of its three lithium extraction projects in Chile, South America.
Due to demand the £10 million target was increased, with the final amount raised totalling £12.3 million. The fundraising comprised a placing and PrimaryBid retail offer. The Placing was arranged by joint brokers and bookrunners Canaccord Genuity and Fox-Davies Capital.
Established in 2017, CleanTech Lithium aims to use proven sustainable Direct Lithium Extraction technology, powered by clean energy, to be amongst the greenest lithium suppliers to the European EV market. The Company is developing three substantial lithium projects, located in Chile's lithium triangle, the world’s centre for battery grade lithium production.
The Fieldfisher team was led by Equity Capital Markets (ECM) partners Dominic Gurney-Champion and Melanie Talbot who were assisted by associate Gurkirat Rehal.
This transaction follows on from CleanTech Lithium's successful IPO on the AIM market in March of this year on which the Fieldfisher team also advised.
Commenting on the fund-raising, Dominic said, "We are delighted to have helped CleanTech Lithium with their recent equity raise which was an excellent achievement given the challenging market conditions at present.
"The team here at Fieldfisher wish CleanTech every success in the next stage of their journey as they look be at the forefront of companies looking to develop cleaner and greener ways to extract industry-critical lithium from brine deposits."
Fieldfisher’s Band-1 ranked UK ECM team was recently named the number one legal adviser by both deal value and deal volume for transactions on the London Stock Exchange's AIM market. In the third quarter of 2022, the team was ranked number 1 for both the number of transactions completed on the market (deal volume) and the total consideration of those deals (deal value). The team was also ranked in third position for the number of transactions completed across all London markets.
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