Perth-based renewable energy company Hazer is poised to reshape the hydrogen supply market with its groundbreaking Hazer Process.
This pioneering low-cost, low-emissions hydrogen technology has garnered significant attention, and as Hazer approaches the final stages of equipment procurement, its potential to disrupt the industry is drawing widespread interest.
Hazer’s unwavering focus on advancing the Hazer Process reflects its commitment to redefining hydrogen production. By offering an innovative solution that minimizes both cost and emissions, the company aims to redefine the landscape of the hydrogen supply market. As the world pivots toward sustainable energy sources, Hazer’s technology emerges as a crucial player in realizing this global shift.
The imminent completion of equipment procurement marks a pivotal milestone for Hazer. The non-renounceable entitlement offer, underwritten by $6 million, showcased strong shareholder support, with over 50% of shareholders participating, resulting in a total raise of $7.7 million. Complemented by an additional $7 million from sophisticated and institutional shareholders, this funding empowers Hazer to execute its strategic roadmap effectively.
Hazer’s reach extends beyond its home base. In a strategic move that bolsters Australia’s decarbonization efforts, the company has inked crucial Memoranda of Understanding (MoUs) with global energy giants Engie, Chubu, and Chiyoda. These collaborations pave the way for Hazer’s technology to transcend borders, driving the establishment of plug-and-play energy generation at existing plants around the world.
The funds raised are earmarked for pivotal purposes. They will propel operational performance and rigorous testing for the commercial demonstration plant, a testament to Hazer’s dedication to ensuring the technology’s practical viability. Additionally, these resources will accelerate the development of catalysts that hold the key to unlocking enhanced value for stakeholders.
Glenn Corrie, Hazer’s Managing Director and CEO, underscores the significance of the upcoming year as a transformative phase. He emphasizes the alignment between funding and strategic goals, enabling the company to navigate its Commercial Demonstration Plant (CDP) journey seamlessly. With an unwavering commitment to executing the growth strategy, Hazer sets its sights on commercializing its groundbreaking technology at a rapid pace.