Hazer banks $10.7 million to fuel commercial push

Hazer Group has locked in $10.7 million through a two-part capital raising effort, positioning itself to accelerate the commercial rollout of its clean hydrogen and graphite production technology.

The Perth-based outfit finalised a $2.6 million share purchase plan this week, adding to an earlier $8.1 million placement to institutional and professional investors. Both components were priced at 31 cents per share and issued on identical terms.

Originally targeting $2 million, the retail offer closed oversubscribed with valid applications totalling 8.4 million new shares. Rather than scale back, Hazer’s board chose to accept the entire amount, with shares issued ahead of schedule.

“We’re very pleased with the strong level of shareholder support received through the Share Purchase Plan,” said Hazer’s CEO and managing director Glenn Corrie. “The combined proceeds provide Hazer with an extended runway to advance key milestones in our commercialisation strategy.”

Corrie noted that Hazer is now at a critical stage in its growth, describing the company as “well-positioned to accelerate commercial deployment and licensing of our technology.” With backing from strategic partner KBR and growing interest from prospective customers, Corrie said the business is confident in its ability to deliver “a compelling decarbonisation solution.”

Hazer’s proprietary process produces clean hydrogen and synthetic graphite by reacting methane with iron ore as a catalyst. Unlike conventional hydrogen production which emits carbon dioxide, Hazer’s method traps the carbon in solid form, offering an environmentally friendlier path forward.

Funds raised will support the company’s transition from demonstration to commercial scale. Its Commercial Demonstration Plant in Perth has been operating since late 2023 and is considered a proof point for the scalability of its process.

Importantly, the shares issued under the purchase plan will not consume Hazer’s placement capacity under ASX Listing Rules 7.1 and 7.1A, giving the company more flexibility should it seek additional funding later on.

The response from retail shareholders is a positive sign for a sector that often struggles to attract broad-based support. The decarbonisation story remains compelling, and Hazer appears to be one of the few Australian companies offering a scalable, near-term clean hydrogen solution.

With the funding now secured, investors will be watching closely to see whether Hazer can convert interest into formal licensing deals or offtake agreements. Market enthusiasm for hydrogen remains high, but the next phase of execution will be key in validating both the commercial model and investor confidence.