Hazer Group (ASX:HZR), based in Perth, extended its strategic collaboration with Mitsui & Co, aiming to advance market activities related to Hazer's low-emissions graphite.
The extension follows a non-binding memorandum of understanding initially signed in November 2022.
The extended partnership focuses on the exploration of potential markets for Hazer's graphite.
The preliminary agreement involved a marketing survey within the steel-making and chemicals sectors.
The next phase will include more product evaluations and testing larger samples from Hazer's commercial demonstration plant.
Glenn Corrie, CEO and Managing Director of Hazer Group stated, "We are excited to be extending our strategic partnership with Mitsui. Hazer's technology is unique in that it produces both low-cost, clean hydrogen as well as a low emissions graphite product."
The collaboration with Mitsui identifies several industry applications for Hazer’s graphite, including steel manufacturing, thermal energy storage, and water purification.
The efforts target markets with high confidence and volume potential.
The partnership forms a key component of Hazer’s commercialisation strategy, providing pathways to various markets and offering significant value upside potential.
Hazer Group is a technology company, driving global decarbonisation efforts with the commercialisation of its disruptive climate tech. The principal activity of the company is the research and development of hydrogen and graphitic carbon production technology.