Norton Rose Fulbright advises ABN AMRO on financing to advance Geothermal Engineering Limited’s UK geothermal and lithium development

Global law firm Norton Rose Fulbright has advised ABN AMRO Bank N.V. (ABN AMRO) on financing for Geothermal Engineering Limited (GEL), a leading developer of deep geothermal power and critical mineral extraction projects in the United Kingdom.

The financing supports the continued development and commercialisation of GEL's geothermal energy and lithium extraction projects in Cornwall. The transaction reflects the growing investor appetite for technologies that combine renewable power generation with sustainable domestic mineral production, an area of increasing strategic focus for the UK's energy transition.

GEL specialises in the development of deep geothermal projects and integrated lithium extraction solutions. Power production at GEL's United Downs deep geothermal power plant started in February 2026 and represents the UK's first integrated deep geothermal power and commercial-scale lithium production project, providing low-carbon baseload renewable energy and contributing to the UK's growing demand for responsibly sourced battery minerals.

The facility, structured as a term loan valued at £10 million, will fund capital expenditures for geothermal power generation, direct lithium extraction initiatives and associated project development costs. The proceeds will support GEL in accelerating key milestones necessary to meet the rising demand for sustainable energy infrastructure and critical mineral supply chains in the UK, supporting the nation's renewable energy production.

The Amsterdam-based Norton Rose Fulbright team advising on the transaction was led by partner Wouter Hertzberger, who was supported by counsel Marjolein Pichel, and associates Frances Hoogenberg, Rik van der Laan and Bea Byrne Hill. The team was further supported by partner Matthew Hodkin, consultant Anthony Pallett, counsel Juliette Kelly, and associate Sduduzo Mhlongo from the London office.

Wouter Hertzberger said:

"We are pleased to support ABN AMRO on this important financing for GEL, which plays directly into the wider European push for sustainable energy security and critical mineral independence. This transaction highlights the increasing sophistication of geothermal and lithium extraction financing in the UK and the strong appetite among lenders to back innovative clean-energy technologies."

Pieter Nyst, representing ABN AMRO Bank N.V. Corporate Investments, commented:

"We are pleased to support GEL in developing cutting-edge geothermal and critical mineral extraction technologies in the UK. This transaction underscores our commitment to sustainable energy innovation and long-term decarbonisation."

Ryan Law, CEO of GEL, said:

"This financing marks a major step forward for our geothermal and lithium projects. We are delighted to be working with ABN AMRO as we move into the next phase of development, advancing geothermal and critical minerals ambitions in the UK."