For the first Funding Friday of Q2 2026, companies across the world are securing funds through partnerships, investment, and secured convertible notes.
Rock Tech Lithium (TSX-V:RCK) has entered into a strategic partnership with Canadian infrastructure platform BMI Group to develop a lithium converter facility in Red Rock, Ontario.
BMI Group intends to invest C$200 million ($205.3 million) in the project as part of a broader equity structure to be finalised as the project advances. Rock Tech, together with additional partners, is expected to contribute additional equity capital over time.
Under the partnership, Rock Tech will be the general partner while BMI Group will act as the lead limited partner and anchor investor. Rock Tech will retain full control and responsibility for project development, engineering, and operations, as well as key technical, commercial, and strategic decision-making.
To support near-term development activities, including a Feasibility Study, both companies plan to initiate a non-dilutionary funding program of up to C$30 million, which is expected to include contributions of both partners and government funding programs. Each dollar contributed by Rock Tech shall be matched by BMI Group and government funding.
This funding is targeted to advance engineering, environmental, and permitting work, alongside early site development activities in preparation for a final investment decision by the end of 2026.
Powering the UK
Over in the UK, ITM Power (LSE:ITM) has secured a £40 million ($76.26 million) investment through a non-pre-emptive subscription by Great British Energy Group.
The company has also received a letter from the Department for Energy Security and Net Zero (DESNZ) confirming its intention to award a £46.5 million grant.
Under the subscription scheme, ITM will issue around 71.99 million shares for a price of £0.556 to Great British Energy. The subscription price represents a 10.4% discount to the last closing price on 8 April 2026.
Meanwhile, the DESNZ grant remains subject to subsidy control security, a statutory process required to ensure compliance with the Subsidy Control Act 2022. The subsidy referral is expected to conclude in June 2026.
As part of the grant conditions, ITM Power has committed to increase its UK workforce by 250 employees over the next five years.
Both investments will support ITM Power establishing operational capability to manufacture its next-generation Chronos electrolyser stack technology.
ITM Power’s electrolysers are powered by renewable energy and use proton exchange membrane (PEM) technology, creating pure green hydrogen.
The Chronos manufacturing will be built in ITM’s existing facilities in Sheffield and will use existing processes that have been introduced to the Trident production line over the past five years. The core of the project involves the procurement and installation of bespoke, automated production equipment essential for one gigawatt of production capacity.
Commercial operation of the manufacturing line is anticipated in 2028.
CEO Dennis Schulz says clean power underpins energy sovereignty and resilience, which are critical to long-term economic success against a backdrop of recent geopolitical instability.
“The UK Government’s support through a combination of equity participation and grant funding marks a pivotal step in establishing ITM Power at the centre of the UK’s hydrogen economy and firmly positions us as a natural partner for projects in the UK,” Schulz says.
Funds for Africa
Meanwhile in Africa, Cassius Mining (ASX:CMD) has entered into binding commitments to secure $5 million in funding through the issue of secured convertible notes to investors of GBA Capital.
The funds will be used for exploration activities, advancing its Soalara Limestone Project, located in Madagascar, towards development and advancing the damages claims against Ghana.
CEO James Arkoudis says the company now has a funded pathway towards achieving its goal of advancing its exploration and development.
The final arbitration hearing is scheduled for 15–19 June 2026 at the Peace Palace in the Netherlands.
Write to Aaliyah Rogan at Mining.com.au
Images: Rock Tech Lithium
