Hazer Group successfully completes $9.0 million placement and launches SPP offer

Hazer Group Ltd (ASX: $HZR) has raised $9.0 million through a placement of fully paid ordinary shares at an issue price of $0.50 per share, along with free attaching quoted HRZO class options. The company has also launched a Share Purchase Plan (SPP) to raise up to $4 million. The net proceeds from the placement and SPP will be used to expedite existing commercial projects, secure new global project and license deals, and for other corporate and strategic purposes.

Executive commentary on successful funding and commercialisation strategy

Hazer's CEO and MD, Glenn Corrie, expressed gratitude for the strong support for the placement and welcomed new domestic and international institutional investors to the register. With the additional funding secured, Hazer is well positioned to accelerate current commercial projects, secure further global licensing deals, and advance the decarbonisation of hard-to-abate sectors such as steel making, refining, and petrochemicals.

Summary of successful placement and outlook

Hazer Group has successfully raised $9.0 million through a placement and launched an SPP to raise up to $4 million. The funding will be used to expedite existing commercial projects, secure new global project and license deals, and for other corporate and strategic purposes. The company aims to advance the decarbonisation of hard-to-abate sectors and deliver the global commercial rollout of its technology through tier-1 partnerships. Hazer's ambitions include advancing the production of clean hydrogen and high-quality graphite, shaping the future of the energy transition.