Hannans Ltd has executed a heads of agreement (Greenhouse Agreement) with private company Greenhouse Investments Ltd effectively granting Hannans the right to enter the lithium battery (LiB) recycling markets in the United Kingdom, Ireland, Italy, and the Balkans (Greenhouse Transaction). In addition, Hannans has secured Greenhouse’s market intelligence and relationships in these regions.
The Greenhouse Agreement more than doubles Hannans addressable market for scrap and end-of-life batteries. Late 2021 Hannans executed an agreement with Critical Metals Ltd (Critical) providing it with a right to commercialise a LiB recycling technology in Sweden, Norway, Finland, and Denmark4, and by combining these territories with the United Kingdom, Ireland, Italy, and the Balkans Hannans has established tremendous
leverage to the rapidly growing European LiB recycling sector, and specifically countries with the highest penetration rate of electric vehicles.
Damian Hicks, Executive Director of Hannans said, “We are extremely pleased to deliver this increase in size and scope of our recycling opportunity for Hannans shareholders. It is abundantly clear that Europe needs a scalable, safe, and sustainable, lithium battery recycling solution. We believe the technology we will hold sublicences to will help stakeholders in our licenced jurisdictions meet their circular economy ambitions and legal
obligations to recycle. We are now focused on increasing Hannans business development activities and forming long-term mutually beneficial relationships with the European lithium battery supply chain participants.”