Modelling indicates that Hazer offers a potentially significant competitive advantage in the global industrial hydrogen market.
Other benefits of the technology include the provision of cost-effective solutions for clean energy applications.
Alternative to steam methane reforming
in modelling its technology, Hazer has compared it to hydrogen production by competing processes such as steam methane reforming (SMR) and electrolysis.
SMR is currently viewed as the most commonly used and cost-effective conventional hydrogen production process.
Electrolysis is an alternative hydrogen production process that can use renewable energy, producing hydrogen with near-zero carbon dioxide emissions.
Hazer enters 2018 in a strong financial position to develop its competing technology, having started the year with cash reserves of $8.3 million.
Potential benefits include 75% cost reduction
Modelling suggests that the costs of commodity inputs required for hydrogen production to be circa 75% lower than those incurred using the SMR technology.
This relates to equivalent costs associated with commodity inputs for hydrogen production using SMR taking into account revenue/credits from commodity output.
Analysis of the new technology also indicated a reduction of circa 70% in carbon dioxide emissions compared with the SMR process.
Management indicated that these results support the principle that Hazer could potentially have a competitive advantage in the global industrial hydrogen market.
Of further significance is the provision of cost-effective solutions for clean energy applications.