CleanTech Lithium plc, a lithium company committed to extracting lithium in an environmentally friendly way, listed successfully on the AIM market of the London Stock Exchange during March 2022.
CleanTech, who have key assets in Chile, aim to produce lithium using a process called Direct Lithium Extraction, which minimises the environmental impact of lithium extraction. They also intend to take advantage of renewable energy, in particular solar power, to help minimise the carbon footprint of their activities. Since Chile has very high levels of sunlight, it is an ideal location to utilise solar energy.
Ogier’s Jersey office advised CleanTech on all Jersey elements of the listing. This involved a placing, which raised £5.6 million to fund CleanTech’s future plans, which are focussed on the development of two main projects in Chile, the Laguna Verde Project and the Francisco Basin Project. Ogier also assisted CleanTech in setting up an office in Jersey and obtaining a business licence.
The Ogier team was led by group partner Matthew Shaxson alongside senior associates Alex Fisher and Will Austin-Vautier, senior paralegal Kate Morel and paralegal David Lobato Taylor.
“It has been a pleasure to advise CleanTech on their listing on AIM,” Matthew commented. “Their innovative approach to extracting lithium promises to be much more environmentally friendly than existing extraction methods and we wish them every success as their business continues to grow. Given Ogier’s own focus on the ESG sector it was especially pleasing to work with a company committed to putting those values into practice.”
“I would like to thank Ogier for their help in establishing CleanTech Lithium in Jersey,” added Gordon Stein, CFO of CleanTech Lithium. “Their advice and assistance was extremely valuable, allowing us to navigate the regulatory processes here in Jersey and ensuring that we obtained our Business Licence and other relevant requirements. We have an exciting time ahead as a public company and look forward to growing our business support functions in Jersey over the coming years.”