Hazer Group Limited (ASX:HZR) Reports 46% Revenue Growth and Operational Milestones
Financial Performance
Hazer Group Limited reported a 46% increase in revenues from ordinary activities, rising to $2,319,772 for the half-year ended 31 December 2024. The loss from ordinary activities after tax attributable to owners decreased by 49% to $6,191,528. Net tangible assets per ordinary security declined to 3.55 cents from 5.91 cents in the previous period. The company did not pay, recommend, or declare any dividends during the current financial period.
Operational Achievements
Hazer successfully completed the initial performance and reactor test program of its Commercial Demonstration Project (CDP), achieving over 1,250 hours of cumulative continuous operation and a production uptime of 99.6%. The company entered into a binding Project Development Agreement with FortisBC to develop a hydrogen production facility in British Columbia, Canada, with a design capacity of up to 2,500 tonnes per annum. Additionally, Hazer extended its Memorandum of Understanding with Mitsui until 15 November 2025 to explore potential markets for Hazer graphite.
Patents and Collaborations
Hazer secured key patents from the European Patent Office and the Japanese Patent Office for its processes in hydrogen and graphitic carbon production. The company continues to engage with potential customers and strategic partners across Australia, North America, and Asia. Hazer was awarded a $6.2 million grant from the Western Australian Government under the Lower Carbon Grants Program – Gorgon Fund, with milestone payments expected over the next 12 months.
Motley Fool contributor Kiarra Jackson 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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