Hazer Group Ltd, listed on ASX as HZR, recently secured a significant milestone with the approval of $6.2 million in conditional grant funding from the Western Australian Government under the Lower Carbon Grants Program – Gorgon Fund. This non-refundable grant, subject to finalizing a Financial Assistance Agreement and Project Plan, marks a crucial step forward for the Company’s ambitious decarbonisation efforts.
Key Points:
- Supporting Transformational Technologies: The Lower Carbon Grants Program – Gorgon Fund aims to back innovative technology platforms that effectively reduce emissions and provide practical decarbonisation solutions. Hazer’s funding will enable the advancement of its commercial reactor scale-up program, aligning with the 2025-2026 work program.
- Establishment of the Fund: Launched in 2024, the Lower Carbon Grants Program is dedicated to funding local innovations and projects supporting decarbonisation. Administered by the Western Australian Government and funded by the Gorgon Joint Venture, the program targets large-scale research and innovation activities spanning various industries, including technology platforms like Hazer’s.
- Technology Advancements: Hazer’s progress in implementing its reactor technology at the Commercial Demonstration Plant in 2023, followed by a successful test program completion in 2024, underscores the potential of its innovative approach. The $6.2 million grant will further enhance the performance program of the commercial scale reactor, capable of significant single train capacity application.
Voices from Government and Industry:
- Hon Minister Stephen Dawson MLC emphasized the State’s commitment to diversifying and decarbonising the economy, aiming for net zero carbon emissions by 2050. Recognizing Hazer as a cornerstone of Western Australia’s innovation landscape, he praised the Company for leveraging local resources to drive global climate technology solutions.
- Hazer’s CEO and MD Glenn Corrie highlighted the pivotal role of government support in propelling technology development for climate action. Acknowledging the Western Australian Government and the Gorgon Joint Venture for their funding, he emphasized the importance of scaling up Hazer’s technology to address climate challenges proactively.
Conclusion:
The $6.2 million grant from the Lower Carbon Grants Program – Gorgon Fund signifies a significant milestone for Hazer Group Ltd in advancing sustainable decarbonisation solutions. With a strong commitment from the Western Australian Government and industry stakeholders, Hazer is poised to accelerate the commercialization of its pioneering technology, offering a viable pathway for heavy industry decarbonisation.
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