‘Clean’ hydrogen specialist Hazer Group (ASX:HZR) has completed a ‘major’ fabrication milestone as it eyes the start-up of its Commercial Demonstration Plant (CDP) in Western Australia later this year.
The $91.84 million market capitalisation company says following the installation of the heat-exchanger equipment, the remaining reactor fabrication and site installation activities have materially progressed, further de-risking the start-up schedule.
Hazer plans to produce hydrogen and graphitic carbon from the CDP before the end of 2023.
Hazer reports the hot reactor main welding works and the critical conditioning step of post-weld heat treatment (PWHT) have been completed. As a result, non-destructive testing (NDT) has been performed before and after the heat treatment.
Results confirm the fabrication quality required for service has been achieved and has warranted the start of the final machining and assembly of the hot reactor body before being shipped to the site in the coming weeks.
The company also notes that pre-commissioning at the CDP continues to proceed as planned, with the remaining hot system air blowers being installed and tested, leaving the installation of the hot-reactor and the connecting piping as the final stage prior to mechanical completion.
Addressing the milestone achievement, Hazer Managing Director and Chief Executive Officer (CEO) Glenn Corrie says: “Another important milestone achieved as we drive towards the start-up of our Commercial Demonstration Plant.
The commercial demonstration of our technology positions Hazer as the leading provider of low-cost and low-emissions hydrogen to customers needing a viable near-term decarbonisation solution.”
“Another important milestone achieved as we drive towards the start-up of our Commercial Demonstration Plant”
Hazer Group is an ASX-listed tech developer undertaking the commercialisation of the Hazer Process, a low-emission hydrogen and graphitic carbon production process.
This process enables the effective conversion of natural gas and similar methane feedstocks into hydrogen and high-quality advanced carbon materials, using iron ore as a process catalyst.
Hazer Group ended the June quarter with $9.3 million in cash and cash equivalents at hand, though the company recently raised $14.7 million with a non-renounceable entitlement offer.
Write to Adam Drought at Mining.com.au
Images: Hazer Group