PERTH (miningweekly.com) – Minerals explorer Hannans has singed a memorandum of understanding (MoU) to commercialise lithium-ion battery (LiB) recycling technology in Norway, Sweden, Denmark and Finland.
The company on Thursday told shareholders that it had been provided the rights to recover high purity metals from scrap and spent LiB using a LiB recycling technology that is safe, sustainable, low energy and low carbon dioxide when compared to incumbent technologies.
The MoU with Australian registered company Critical Metals will take the form of a joint venture (JV), enabling Hannans to earn its interest by funding and managing certain tasks and activities.
Hannans is expected to spend some A$1.5-million on feasibility work for this project, the company said.
The LiB recycling technology that is the subject of the MoU has undergone comprehensive pilot plant and validation test work programmes and has been substantially derisked, the company told shareholders.
“Hannans shareholders are poised to benefit from both the long-term research and development investment into the technology and the high quality strategic partnerships entered into by the technology owners. Hannans believes these attributes significantly increase the potential for the commercialisation strategy to be successfully executed,” the company said in a statement.