hazer group (ASX:HZR) has received $6.2 million in conditional funding from the Western Australian Government’s Low Carbon Grant Program – Gorgon Fund. The program was established in 2024 and is backed by Gorgon Joint Venture, a consortium that includes Chevron, ExxonMobil, and Shell.

Hazer Group specializes in the production of clean hydrogen and high quality graphite. The ‘Hazer process’ uses natural gas or biogas as a feedstock and iron ore as a catalyst, creating a low-emission, cost-effective alternative to traditional hydrogen production. This technology offers a way to decarbonize heavy industry.

Hayser CEO Glen Colley expressed his gratitude for the support and said, “This non-dilutive funding will support Hayser’s 2025-2026 investment focused on advancing our commercialization strategy. “This will substantially support our work plan for 2020 and enable us to rapidly deliver our unique technology to Australia’s growing customer base.” all over the world. ”

Minister Stephen Dawson hailed Mr Heiser as a leader in climate innovation and highlighted the province’s commitment to achieving net-zero emissions by 2050.

The grant will be paid in installments and is conditional on the achievement of development milestones at Heiser’s commercial demonstration plant, which completes the initial testing phase in 2024.

The stock is trading 8.33% higher at 42 cents.