Hazer Group (ASX:HZR) has announced its interim financial results for the half-year ended Dec. 31, 2024, showcasing operational and financial progress.
Hazer reported a 46% increase in revenue to $2.3 million, up from $1.6 million in the prior corresponding period.
The company maintained a robust cash position of $9.3 million, bolstered by non-dilutive funding sources.
Operating costs were reduced by 12%, primarily due to lower expenditure on the commercial demonstration plant and corporate expenses.
CDP capital spending was minimal at $600,000, compared to $5.1 million a year earlier.
A key milestone was the early completion of the CDP performance test program in November 2024, which reinforced the reliability and scalability of the Hazer process.
The FortisBC Canada Project also progressed through crucial stages, with the company receiving its first revenue from engineering services.
Additionally, Hazer extended its strategic partnership with Mitsui for graphite marketing, following positive market feedback.
CEO and Managing Director Glenn Corrie highlighted the company’s progress, emphasising Hazer’s commercial readiness and strong industry partnerships.
The company also secured key patents in Europe and Japan, strengthening its intellectual property portfolio.
Looking ahead, Hazer aims to accelerate commercialisation efforts, particularly in scaling up reactor designs and advancing discussions with potential partners.
The company remains committed to financial discipline while leveraging opportunities in the growing clean hydrogen and graphite markets.
At the time of reporting, Hazer Group's share price was $0.36.