Hannans Ltd (ASX: HNR) has welcomed the successful award of a grant to the lithium ferrous phosphate (LFP) battery recycling project, ReLiFe in Europe.
The Project’s lead partner is Sunlight Group Energy Storage Systems and Hannans is presently represented in the Project by its consultant Greenhouse Investment Group Limited.
Sunlight, Greenhouse, Hatch Küttner GmbH, Helmholtz- Zentrum Dresden-Rossendorf e.V., Monolithos Ltd, SE&C IKE, Technische Universität Bergakademie Freiberg 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% of batteries used in electric vehicles around the world. This figure is expected to grow over the next ten years due to increased demand for battery powered vehicles and other technologies.
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 EUR€3.4 million expected to be allocated in apportionments during 2023, 2024 and 2025. Hannans apportioned total share is estimated at approximately EUR€235,000 with a EUR€41,000 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.
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,” Michael O’Leary-Collins, Hannans’ Head of Europe, said.
