Hazer Group completes share placement for biogas-to-green hydrogen facility
According to Hazer, the placement closed early due to strong demand and was upsized from $6 million (€3.6 million) to $8.4 million (€5.2 million). The financing package, along with a grant from the Australian Renewable Energy Agency (ARENA) under the Advancing Renewables Programme, will meet the funding requirements for the firm’s commercial demonstration plant (CDP). This will be the first, fully-integrated operational production facility based on the Hazer Process.
The proposed Hazer Process CDP is a 100 tonnes-per-annum, low-emission hydrogen production facility that will be the first large-scale, fully-integrated deployment of the process. It is proposed to be built at the Water Corporation’s Woodman Point Wastewater Treatment Plant in Western Australia. The CDP will utilise biogas produced at the facility as a feedstock to produce hydrogen and graphite.
Tim Goldsmith, chairman of Hazer Group, said: “We are delighted by the strong support that has been shown for Hazer in this raising and welcome our new shareholders to the company.
“With the completion of this funding package, Hazer is strongly positioned to construct, commission and operate our CDP, a major milestone in scaling up the Hazer technology. I look forward to working with the Hazer team to finalise the project arrangements and take a final investment decision on the project in the immediate future.
“We would also like to recognise and thank all our existing shareholders for their support to allow us to make the significant progress we have over the last 12 months. I would also like to thank Water Corporation for their engagement and support in completing the binding agreements for biogas supply and project collaboration, and ARENA for their ongoing support in funding this exciting Australian developed technology. We look forward to continuing to work with you to deliver an excellent product.”