Hazer Group (ASX:HZR) has obtained a $6.2 million grant from the Western Australian Government’s Lower Carbon Grants Program – Gorgon Fund.
The non-refundable grant is set to accelerate Hazer's commercial reactor program, supporting its plans through 2025-2026.
The grant supports the development of technology platforms that reduce emissions.
The Gorgon joint venture, operated by Chevron Australia, funds the program, with contributions from companies like ExxonMobil, Shell, Osaka Gas, MidOcean Energy, and JERA.
According to the Honourable Minister Stephen Dawson MLC, "The Western Australian Government is committed to diversifying and decarbonising the State's economy, with a target of net zero carbon emissions by 2050. The Hazer Group is a key contributor to Western Australia’s innovation sector."
Glenn Corrie, Hazer's CEO and Managing Director, stated, “Government support plays a vital role in advancing the development of technology solutions in the fight against climate change.”
The grant funding is conditional upon the completion of a financial assistance agreement and project plan, which are near finalisation.
The funding will be accessed in tranches, enabling key milestones within Hazer's commercial reactor scale-up program at their commercial demonstration plant.
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.
At the time of reporting, Hazer Group's share price was $0.42.