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- Signs MoU to assess SAF and renewable diesel opportunities
- SAF and RD opportunity with Hazer’s low-emissions hydrogen platform
- MoU supports development of domestic low-carbon liquid fuel production capability
- Hazer continues to expand its commercial pipeline
Hazer Group (ASX: HZR) has entered into a non-binding memorandum of understanding (MoU) with Continual Renewable Ventures (CRV) to assess opportunities for developing low carbon liquid fuels (LCLF) production in Australia.
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LCLF is an emerging sector focused on decarbonising jet fuel and diesel with lower emission alternatives, including sustainable aviation fuel and renewable diesel.
CEO and MD, Glenn Corrie, said the production of both SAF and RD requires bio-feedstock and hydrogen.
“The MOU with CRV is Hazer’s first step into Australia’s emerging clean fuels industry.
“The number of sectors reaching out to Hazer to partner with us is increasing, including locally here in Western Australia.
“Recent world events have brought into focus the need for Australia to not just be a primary producer and exporter of raw materials, but to move back into domestic processing and production of refined products, including diesel and jet fuels.
“We have everything we need to produce these products in Australia from locally grown canola and affordable clean hydrogen which Hazer can produce.”
Mr Corrie said partnering with CRV makes perfect sense to Hazer.
“As an Australian company, CRV understands the imperative to produce locally and they bring the know-how of proven technology and production operations,” he said.
“The time to act in establishing our domestic clean fuels and diesel supply chain is now.”
CRV founder and MD, Renzo Petersen, said the company is the exclusive Australian license holders of proven tech from XCF Global and is uniquely positioned to help Australia when it comes to low-carbon liquid fuels, aspire to energy-independence.
“We are a proud Australian company that is passionate about decarbonisation of the fuel industry and supporting Australia in improving its energy security,” he said.
“Currently, a significant portion of Australia’s canola is exported, some of which is then processed into SAF outside Australia. By teaming up with Hazer (who provide the low emissions hydrogen) and local Australian farmers (who provide the core feedstock of canola oil) we can produce SAF in Australia.”
Mr Petersen said the Kwinana region in Western Australia is an excellent location for Australia’s first SAF/RD production facility, the New Rise ANZ project.
“It is located near the farms that produce canola, has great infrastructure and is relatively close to major aviation hubs. Our long-term intention is to grow from our first full-scale SAF and RD facility in Kwinana, to expand across Australia and New Zealand to create a low-carbon liquid fuels network.
“We think the time is right for Australia to start its journey back to energy-independence and look forward to working with Hazer to support this journey.”
HZR is up 4.00% to 39.0¢. Mkt cap $100.4M.
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