LCG Award Ceremony
PERTH, AUSTRALIA -- Following the announcement on December 3, 2024, regarding the grant awarded by the Western Australian Government under the Lower Carbon Grants Program – Gorgon Fund, Hazer Group Ltd ("Hazer" or "the Company") (ASX: HZR) is pleased to announce the execution of the Financial Assistance Agreement (“FAA”) and the acceptance of the related Project Plan. The signing of the FAA and other routine deliverables releases the first payment of $1.963 million in early Q1 2025.
Under the FAA, Hazer will be eligible to draw-down the remainder of the $6.2 million funding package in multiple tranches subject to meeting key milestones relating to the development and operations of the Company’s commercial reactor scale-up program at the Commercial Demonstration Plant (CDP). The commercial-scale reactor technology that will be tested under this program will be capable of large-scale application with a single train capacity of up to 40,000tpa of hydrogen and 120,000tpa of graphite.
Hazer’s CEO and MD Glenn Corrie said, “This non-dilutive funding substantially co-funds Hazer’s 2025-2026 work program to advance our commercialisation strategy and expedite the delivery of our unique technology to our growing global customer base. Once again, Hazer would like to acknowledge the recognition and support from the WA State Government and the Gorgon Joint Venture.”
About Hazer Group Ltd Hazer Group is an Australian technology company, driving global decarbonisation efforts with the commercialisation of the company’s disruptive world-leading climate-tech. Hazer’s advanced technology enables the production of clean and economically competitive hydrogen and high-quality graphite, using natural gas (or biogas) feedstock and iron-ore as the process catalyst.
