Hazer Group receives substantial funding boost

Hazer Group (ASX:HZR), an Australian technology company dedicated to decarbonization, has been awarded a $6.2 million grant by the Western Australian Government's Lower Carbon Grants Program - Gorgon Fund. This funding will support the advancement of Hazer's commercial reactor scale-up program, particularly the performance enhancement of their Commercial Demonstration Plant, which can handle up to 40,000 tonnes per year. The grant is conditional, requiring a Financial Assistance Agreement and Project Plan completion.

Overview and future prospects for Hazer Group

Hazer Group has successfully secured a $6.2 million grant to advance its commercial reactor scale-up program, a key component of their decarbonization strategy. The grant, provided by the Lower Carbon Grants Program - Gorgon Fund, is instrumental in enhancing Hazer's Commercial Demonstration Plant. The plant utilizes Hazer's innovative technology to produce clean hydrogen and high-quality graphite, offering practical decarbonization solutions. The Western Australian Government's backing aligns with their target of net zero emissions by 2050. This funding will not only speed up Hazer's commercialization efforts but also enable them to reach a broader market. The grant is non-dilutive, preserving Hazer's equity while facilitating strategic expansion. As Hazer meets key development milestones, they will access the grant in tranches, reinforcing the scalability and potential global impact of their technology.

Executive insights on strategic funding

This funding is a significant endorsement of the Hazer technology and its ability to contribute to decarbonisation efforts. It provides a pathway to expedite the commercialisation of our technology and expand our customer base both in Australia and globally. Importantly, this support is non-dilutive and allows us to maintain our capital structure while advancing our strategic goals.