They have announced the successful completion of the $5 million IPO with an overwhelming amount of interest. The offer was closed several weeks earlier than expected and was heavily oversubscribed. The $5 million raised will enable commercialisation of their breakthrough technology and enable the company to tap into the considerable emerging opportunities in the global clean energy market.
“Our story is about targeting a significant global market using a disruptive technology that produces clean hydrogen at a low cost with negligible carbon dioxide emissions,”
Hazer™ Managing Director Geoff Pocock
Clean hydrogen is seen as a key component of the growing demand for clean energy, as hydrogen can be used to generate power without the generation of carbon dioxide. However, most hydrogen production methods create significant CO2 emissions essentially negating the clean energy benefits of hydrogen-based energy. Existing clean hydrogen processes are expensive and energy inefficient and rely on an independent primary clean energy supply as a power source for hydrogen production.
Hazer’s core technology, known as the Hazer Process, instead uses natural gas and iron ore to produce clean hydrogen and synthetic graphite. Synthetic graphite, traditionally a premium product in the growing graphite market, is commonly used in batteries and other technologies as well as other industrial applications.
“We are perfectly positioned to tap into the increasing global focus on clean energy but we will also seek to produce low-cost synthetic graphite with high purity and crystallinity due to growing worldwide demand for this product, particularly in electric vehicles?” Mr Pocock said.