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Hazer Group (ASX:HZR) has announced its pilot-scale test facility for its novel graphite manufacturing method has achieved 240h of continuous operations after no shortage of setbacks.
That milestone, the company says, now allows it to access for funding from ARENA, Australia’s state-backed renewables research agency. Hazer claims its tech can produce hydrogen and – more importantly – graphite using natural gas and iron ore.
Not only that, but it claims it can do this in a clean fashion and one which harmonises with decarbonisation efforts. Arriving at this point has been difficult for Hazer – it’s experienced no shortage of setbacks including cracks in parts it ordered from China for the pilot facility.
The company reported on Friday technical data collected across its newly hit ten day operating period are now being used to “advance four existing commercial projects with POSCO, ENGIE, Chubu Electric and FortisBC.”
“I am delighted to announce this significant achievement by the Company and the team,” Hazer CEO Glenn Corrie said.
“The ongoing “testing – modification – testing” work by our scientists, engineers and technicians has resulted in excellent performance and demonstration of high reliability for our first-of-a-kind technology.
“We have achieved another major milestone that enables the commercialisation of the Hazer process and supports our growth strategy globally.”
HZR last traded at 30cps.
