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Hannans Limited ( (AU:RIL) ) has shared an update.
Redivium Limited has announced the closure of its entitlement offer, which did not meet the minimum subscription requirements. Despite efforts to gain sufficient support, the offer will not proceed, and applicants will be refunded. The company continues to engage with advisors and investors regarding a proposed ‘green bond’ funding process, aiming to inform the market of any significant developments. This development highlights the company’s ongoing efforts to secure financing for its initiatives in battery recycling, which is crucial for its industry positioning and future growth.
More about Hannans Limited
Redivium Limited aims to provide advanced battery recycling technology across Europe, focusing on multiple battery chemistries. The company holds commercialisation rights to Neometals’ technology for the UK, Ireland, Scandinavia, Italy, and Southeast Europe. Redivium’s recycling processes target the safe elimination of lithium-ion battery waste and the recovery of valuable materials like lithium, nickel, copper, and anode components for reuse in new battery cell production. The company seeks to become a leading European battery recycler, supported by EU energy transition regulations and funding.
Current Market Cap: A$13.58M
See more data about RIL stock on TipRanks’ Stock Analysis page.
