- Hazer (HZR) signs a one-year memorandum of understanding (MoU) with Tokyo-based Mitsui & Co to investigate potential markets for Hazer’s graphitic carbon
- Under the MoU, the companies will conduct an initial marketing survey of applications of Hazer’s low-emissions graphite in the steel-making and chemical industries
- Further, both Hazer and Mitsui will jointly explore potential customers, applications and partners globally to establish the potential value for Hazer graphite
- The companies will cover their own costs, and the MoU will not restrict either party from entering into a similar arrangement with other companies
- Shares in Hazer are up 7.75 per cent to 69.5 cents at 11:44 am AEDT
Hazer (HZR) has signed a one-year memorandum of understanding (MoU) with Tokyo-based Mitsui & Co to investigate potential markets for the application of Hazer’s graphitic carbon.
The company said the MoU was the result of an “extensive period” of technology review and market assessment conducted by Mitsui.
Under the MoU, the parties have agreed to conduct an initial marketing survey of applications for Hazer’s low-emissions graphite in the steel-making and chemicals industries.
The companies will jointly explore potential customers, applications and partners in Asia, Northern America and the Middle East to establish the potential value for Hazer graphite.
Further, both Hazer and Mitsui will look to contribute to the decarbonisation of existing industrial supply chains and manufacturing processes.
“We are pleased to be collaborating with Mitsui, one of the world’s leading trading and investment companies, to jointly investigate the market and monetisation of Hazer graphite,” Hazer CEO Glenn Corrie said.
“It is a privilege to be working alongside Mitsui, a highly respected and reputable group with unprecedented market access, to explore markets and customers across the world for our potentially valuable graphite material.
“This is great timing for Hazer and accelerates the pathway to unlocking value for our graphite taking us a step closer to commercialisation.”
The companies have agreed to cover their own costs, and the MoU will not restrict either party from entering into a similar transaction with other companies.
Shares in Hazer were up 7.75 per cent to 69.5 cents at 11:44 am AEDT.