Hannans Ltd (ASX: HNR) (Hannans or the Company) is pleased to report the successful award of a grant to lithium ferrous phosphate (LFP) battery recycling project, ReLiFe1 (the Project).
The Project's lead partner is Sunlight Group Energy Storage Systems (Sunlight) and Hannans is presently represented in the Project by its consultant Greenhouse Investment Group Limited (Greenhouse). Sunlight, Greenhouse, Hatch Kuttner GmbH, HelmholtzZentrum Dresden-Rossendorf e.V., Monolithos Ltd, SE&C IKE, Technische Universitat Bergakademie Freiberg (the Project Participants) have joined together to assess the Project which aims to establish a pilot recycling plant for recovering lithium carbonate, iron phosphate and graphite from end-of-life and scrap LFP batteries. According to the International Energy Agency, LFP batteries are estimated to be among the leading battery chemistries in the global market, accounting for an estimated 30 per cent of batteries used in electric vehicles around the world.
The European Institute of Innovation and Technology (EIT) RawMaterials GMbH, a European Union-funded community of companies and research institutions with the stated goal of supporting the development of critical raw materials supply in Europe, awarded the grant to the Project Participants. Total funding awarded by EIT RawMaterials GMbH to the Project is EUREUR3.4 million expected to be allocated in apportionments3 during 2023, 2024 and 2025.
Hannans apportioned total share is estimated at approximately EUREUR235,000 with a EUREUR41,000 payment made in November 2023 and the final instalment currently expected to be paid in March-April 2026. A successful implementation of the Project is expected to meet a series of core EU targets regarding Critical Raw Materials (CRMs), sustainability, energy transition, and the circular economy, by facilitating the recovery of lithium, iron phosphate and graphite.
Michael O'Leary-Collins, Hannans' Head of Europe, commented: '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 guideline
Hannans looks forward to updating the market further on key developments of the Project.
This ASX release has been authorised by Brett Salt, CEO, on behalf of the Board of Directors.
Contact:
Brett Salt
Chief Executive Officer
Hannans Ltd
Tel: 61 8 9322 3388
Email: info@hannans.com
Lucas Robinson
Email: lucas@corporatestorytime.com4
This announcement contains forward-looking statements that are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and the Company's management. The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forwardlooking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements
REDIVIUM LIMITED 
