Hazer Group Limited (ASX:HZR) Reports Successful Q4 Activities
Successful Completion of CDP
Hazer Group Limited (ASX: HZR) has successfully completed its Commercial Demonstration Plant (CDP) and reactor test program ahead of schedule, enhancing confidence in its technology’s scalability and commercialisation. The reactor achieved over 450 hours of stable operation with a production uptime of 99.6%.
The total cumulative production was over 1,250 hours for the year, affirming the commercial readiness of the Hazer Process. Large quantities of graphite produced are now being used for testing by strategic partners and prospective buyers.
Financial Position Strengthened
During the quarter, Hazer secured around $5.1 million from the FY24 Research and Development tax incentive refund and was awarded $6.2 million from the Western Australian Government’s Lower Carbon Grant Program.
CEO Glenn Corrie remarked, “2024 was an important year for Hazer, marked by significant achievements. We enter 2025 with a de-risked technology and expanding commercial opportunities.”
Partnerships and Projects
The strategic partnership with Mitsui & Co. has been extended to advance graphite marketing opportunities, reflecting positive market feedback.
The collaboration with FortisBC has progressed towards developing a hydrogen production facility in Canada, with successful small-scale reactor tests resulting in crucial data for future projects.
Intellectual Property Developments
Hazer reported acceptance of a key patent by the European Patent Office regarding the production of hydrogen and graphite, strengthening its intellectual property portfolio in key markets.
As of 31 December 2024, Hazer’s financial position comprised $9.3 million in available cash and secured funding of $15.5 million, ensuring sustained operational capabilities.
Upcoming Events
Hazer will host a webinar on 23 January 2025 to discuss Q2 FY25 results. Details will be released on their website ahead of the event.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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