Hazer Group Reaches New Heights with Continuous Operation Milestone
HZR (HZR) Share Update September 2024 Sunday 29th
Hazer Group Achieves Major Milestone with 360 Hours of Continuous Operation
Hazer Group Limited (ASX: HZR) has announced a significant achievement in its Commercial Demonstration Plant (CDP) with over 360 hours of continuous operation, showcasing high plant reliability and methane conversion.
Instant Summary:
- 360 hours of continuous operation with over 97% uptime.
- Methane to hydrogen conversion approaching design values.
- Stable operation and controlled reactor pressure differential.
- Substantive production of high-quality graphite.
Operational Success
Hazer Group Limited has achieved a significant milestone with its Commercial Demonstration Plant (CDP) operating continuously for over 360 hours. This achievement marks a new level of operational stability and reliability, with an impressive uptime of over 97%. The methane to hydrogen conversion rates have surpassed previous campaigns and are now approaching the design values, providing further confidence in the commercial scalability of Hazer's technology.
The recent test campaign has also resulted in substantive production of graphite, which is currently undergoing quality optimization before being supplied to commercial partners. These results are a testament to the rigorous process and reactor performance test program that Hazer has implemented.
Technological Advancements
At the core of Hazer's success is the adoption of a fluidised bed reactor (FBR), a proven scalable technology in the refining and metallurgical industries. Hazer's innovative approach to repurposing the FBR, combined with extensive research and development, positions the company as a leader in the methane pyrolysis space. The successful continuous operation reinforces the scalability of Hazer's technology to large, single-train capacities, offering a de-risked solution for industrial applications.
Forward Program
Following the maintenance and inspection program, Hazer plans to focus on producing high-purity graphite to complete orders for larger-scale application testing. This final 2024 CDP campaign is scheduled to be completed in the fourth quarter of the calendar year. Concurrently, engineering work related to the integration of the next-generation reactor and heat exchange equipment will be completed, paving the way for the scale-up of the technology to commercial levels of more than 20ktpa of hydrogen production.
Commercialisation Strategy
The CDP results are being used to advance Hazer's existing commercial projects with FortisBC, POSCO, ENGIE, and Chubu Electric/Chiyoda Corporation. The commercial demonstration plant has also facilitated extensive discussions with new customers and strategic partners interested in Hazer's technology. The company's first large-scale commercial facility in Canada with FortisBC is progressing well, with the signing of a binding project development agreement earlier this year.
Hazer CEO Glenn Corrie stated, 'We continue to demonstrate Hazer's technology is at the forefront of innovation with excellent test program performance supporting our commercialization strategy. These strong operational milestones are a result of many years of technology development and scale-up success and continue to de-risk and demonstrate that Hazer's technology is fast approaching commercial readiness.'
The successful continuous operation of the CDP is a significant milestone that reinforces the scalability and reliability of Hazer's technology. This achievement is likely to boost investor confidence and positively impact the company's stock price. The progress in methane to hydrogen conversion and graphite production positions Hazer as a leader in the clean hydrogen market, which could attract further investment and strategic partnerships.
Investor Reaction:
Analysts are likely to view this milestone positively, as it demonstrates the viability and scalability of Hazer's technology. The successful continuous operation and high uptime are critical factors that de-risk the technology for commercial deployment. Investors may respond favorably to the news, anticipating future growth and commercial success for Hazer Group.
Conclusion:
Investors should keep an eye on Hazer Group's upcoming developments, particularly the final 2024 CDP campaign and the integration of the next-generation reactor. The company's strategic focus on commercializing its technology and expanding its partnerships bodes well for future growth. Subscribe to our newsletter for regular updates on Hazer Group and other stock market news.