Hazer Group Limited has announced that it has achieved the second key progress milestone under the Lower Carbon Grant – Gorgon Fund, securing a $2.2 million payment.
The company stated that this latest funding brings the total received this quarter to $4.3 million, bolstering its financial position as it advances the commercial scale-up of its Western Australian-developed technology.
The funding, which is in addition to Hazer’s reported cash balances from its December 2024 Appendix 4C, enhances the company’s liquidity and supports the expansion of its hydrogen and graphite production technology.
The Lower Carbon Grants Program – Gorgon Fund was established in 2024 to support local projects contributing to decarbonisation.
The initiative is administered by the Western Australian Government and is funded by the Gorgon Joint Venture, which includes Australian subsidiaries of Chevron, ExxonMobil, Shell, Osaka Gas, MidOcean Energy, and JERA.
Hazer had previously been awarded $6.2 million in grant funding under the program.
The company expressed its appreciation for the support provided by the Western Australian Government and the Gorgon Joint Venture, emphasising the role of non-dilutive funding in advancing its operations.
The financial assistance enables Hazer to continue its efforts in bringing its technology to commercial scale.
The announcement was authorised for release by the company’s board, underscoring the significance of the funding in supporting Hazer’s strategic objectives in the decarbonisation space.
