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Marechale Capital PLC - London-based adviser and financing provider for consumer brands, leisure, clean energy, mineral extraction and technology companies - Notes that its investee company Weardale Lithium Ltd has secured a £700,000 grant through the UK government’s ‘DRIVE35 Scape-Up: Feasibility Studies’ competition, which supports the next phase of development at its geothermal lithium project in County Durham. Marechale says: ‘The grant funding provided by UK government will enable Weardale to undertake a detailed feasibility study to map its geothermal lithium-bearing brinefield within the North Pennine Orefield, de-risking future commercial deployment of direct lithium extraction technology and informing long-term wellfield design and commercial production strategy.’ It adds: ‘By advancing subsurface characterisation and technical modelling, the feasibility study represents an important step towards establishing a domestic source of battery-grade lithium carbonate, reducing reliance on imported raw materials and strengthening the resilience of the UK’s electric vehicle manufacturing base.’ Current stock price: 1.80 pence each, up 6.1% on Friday afternoon in London 12-month change: up 39% Copyright 2026 Alliance News Ltd. All Rights Reserved.
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