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Hazer Group receives interest from steel industry for its technology

Shares are trading up 40% over the past month, currently priced at $0.61.
The Hazer Process diagram
This MoU follows the recent agreement signed with Mineral Resources

Hazer Group (ASX:HZR) has signed a memorandum of understanding (MoU) to investigate the commercial and technical viability of utilising the Hazer technology in the steel industry.

The non-binding agreement is with Primetals Technologies Austria GmbH, a joint venture between heavyweights, Mitsubishi Heavy Industries and Siemens.

Under the MoU, the parties will jointly develop a roadmap to investigate the viability for the Hazer Process to increase the energy efficiency and reduce the environmental impact of steel production.

The Hazer Process enables the effective conversion of natural gas and similar feedstocks, into hydrogen and high-quality graphite, using iron ore as a process catalyst.

Geoff Pocock, managing director, commented

“Hazer is excited by the opportunity to integrate into the steel industry, reducing both costs and greenhouse gas emissions associated with this massive market.

“Primetals Technologies is the ideal partner for us to explore these options, as they have decades of experience in these markets, as well as significant engineering expertise in scale-up of production systems and commercially deploying them in this market.

“This background makes the group an ideal co-partner for Hazer, and we are looking forward to working in partnership with both Primetals Technologies and Mineral Resources Ltd on the ongoing commercialisation of the Hazer technology.”

HSCCM Project

The terms of the MoU outline a project called ‘Hazer, Steel, Carbon Capture and Methanol Project’ or the HSCCM Project.

Both parties will work towards engineering a technology package, whereby hydrogen produced by the Hazer Process could be used for steel production with minimum carbon footprint.

Hazer and Primetals Technologies have identified a number of potential applications for the Hazer technology to be commercialised within the steel industry.

The initial focus is on three core opportunities:

- Reduce CO2 emissions and convert CO2 to methanol (a valuable fuel);
- Using hydrogen as an alternative reductant in the steel-making process; and
- Using graphite as an alternative to coal in the steel-making process.

Next steps

Initially, the focus of this collaboration will be the exchange of technical information and the joint development of the necessary technology roadmap.

This will then be formulated through a binding joint development agreement in early 2018.

READ: Hazer Group shares soar on potential commercial facility

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