Hazer Group (ASX:HZR) has been awarded $6.2m in conditional funding from the Western Australian Government’s "Lower Carbon Grants Program – Gorgon Fund". The program was established in 2024, and is backed by the Gorgon Joint Venture, a consortium including Chevron, ExxonMobil and Shell.
Hazer Group specialises in the production of clean hydrogen and high-quality graphite. The "Hazer Process" uses natural gas or biogas as feedstock and iron ore as a catalyst, creating a low-emission, cost-effective alternative to traditional hydrogen production. The technology offers a method for decarbonising heavy industry.
Hazer’s CEO Glenn Corrie expressed gratitude for the support, noting, "This non-dilutive funding substantially supports Hazer’s 2025-2026 work program focused on advancing our commercialisation strategy and enables us to expedite the delivery our unique technology to our growing customer base in Australia and world-wide.”
Minister Stephen Dawson highlighted the state’s commitment to achieving net zero emissions by 2050, calling Hazer a leader in climate technology innovation.
The grant will be disbursed in tranches, and is conditional upon development milestones being met at Hazer's Commercial Demonstration Plant, which completed its initial testing phase in 2024.
Shares are trading 8.33% higher at 42 cents.
