HANNANS (ASX:HNR)Notably, the company is partially owned by NMT...

HANNANS (ASX:HNR)Notably, the company is partially owned by NMT and in February – as part of its plans to pivot focus to recycling lithium-ion batteries – executed a Heads of Agreement with Greenhouse Investments providing it with right to expand its lithium battery recycling commercialisation activities into the United Kingdom, Ireland, Italy, and the Balkans.The company’s sub-licences and rights now cover territories incorporating 49% of the population of the EU and 38% of all motor vehicles registered in the EU, which it says gives it “tremendous leverage to the rapidly growing European LiB recycling sector, and specifically countries with the highest penetration rate of electric vehicles.”Hannans executive director Damian Hicks says it’s abundantly clear that Europe needs a scalable, safe, and sustainable, lithium battery recycling solution.“We believe the technology we will hold sub-licences to will help stakeholders in our licenced jurisdictions meet their circular economy ambitions and legal obligations to recycle,” he said.The company will raise up to $3.5m at 3.5 cents per share to fund activities in the new territories, and if shareholders approve the proposed transaction, Greenhouse will be issued 19.9% of Hannans’ consolidated capital base (pre capital raising).The $60m market cap stock had $4.5m cash at 31 March 2022.

One of Hannans tweets.