Hannans secures European grant for lithium-ion phosphate battery recycling project

Hannans Ltd (ASX: $HNR) has successfully secured a European grant for the lithium ferrous phosphate (LFP) battery recycling project, ReLiFe. The project aims to establish a pilot recycling plant for recovering lithium carbonate, iron phosphate, and graphite from end-of-life and scrap LFP batteries. The grant aligns with EU targets for critical raw materials, sustainability, energy transition, and the circular economy.

Executive commentary on securing the European grant

This generous grant marks a significant milestone in our journey to redefine the future of battery recycling. Hannans' involvement in the ReLiFe project underscores our dedication to advancing technology that aligns with European Union guidelines. Meeting the evolving needs of our customers is a crucial component of Hannans' transformation into a sustainable battery recycler, and we are excited about the positive impact these initiatives can have on the environment and the circular economy. This is just one example of the support, to include funding, by Governments across the Hannans licensed regions for the energy transition, and its critical enabling industries, and is a positive development for Hannans, our partners, and our longer-term ambitions.

Summary of European grant and outlook

Hannans' successful award of the European grant for the ReLiFe project signifies a strategic move towards diversifying into the LFP battery recycling market, supplementing its existing LiB recycling technology. The Project aims to establish a pilot recycling plant for recovering lithium carbonate, iron phosphate, and graphite from end-of-life and scrap LFP batteries. With LFP batteries estimated to be among the leading battery chemistries in the global market, Hannans' participation in the ReLiFe Project aligns with the growing demand for battery-powered vehicles and other technologies. The total funding awarded by EIT RawMaterials GMbH to the Project is EUR€3.4 million, with Hannans' apportioned total share estimated at approximately EUR€235,000. The successful implementation of the Project is expected to meet core EU targets regarding Critical Raw Materials (CRMs), sustainability, energy transition, and the circular economy. Hannans looks forward to updating the market further on key developments of the Project, indicating a positive outlook for the company's ambitions and goals in the sustainable battery recycling sector.