Hazer Group has extended its non-binding Memorandum of Understanding (MOU) with Japanese trading giant Mitsui & Co, Ltd (Tokyo, Japan), pushing forward joint efforts to explore potential markets for Hazer’s low-emissions graphite.
The agreement, which builds on the original MOU announced on 16 November 2022, will now continue for another year, with automatic renewals unless terminated by either party, as revealed in an ASX announcement.
The partnership leverages Mitsui’s extensive global network to evaluate the applications of Hazer’s graphite in steel manufacturing, chemicals, and other sectors.
Hazer has already conducted positive market analysis, identifying promising segments for its graphite, including iron and steel production, thermal energy storage, and water purification.
“We are excited to be extending our strategic partnership with Mitsui,” said Hazer’s CEO and Managing Director, Glenn Corrie.
“Hazer’s technology is unique in that it produces both low-cost, clean hydrogen as well as a low-emissions graphite product.”
Initial investigations have pointed to a variety of applications for Hazer’s graphite:
- Steel Manufacturing: Hazer’s graphite demonstrates suitability for both traditional blast furnaces and emerging green-steel processes, owing to its structured composition and iron inclusion.
- Thermal Energy Storage: Its excellent thermal conductivity and stability make it an efficient medium for heat transfer.
- Water Purification: Hazer’s graphite has shown potential for enhanced PFAS removal, a growing environmental concern.
- Construction Materials: The graphite is also being evaluated for asphalt, bitumen, and concrete production.
According to Corrie, the collaboration with Mitsui helps Hazer access challenging markets and critical industries where decarbonisation solutions are in high demand.
“In light of increased global awareness around the vulnerability of critical mineral supply chains, this is a clear value differentiator for Hazer’s technology in the methane pyrolysis space,” he added.
As part of the extended agreement, the two companies will move forward with further product evaluation and larger sample testing from Hazer’s Commercial Demonstration Plant (CDP).
Both companies will also engage with potential buyers to establish volumes, pricing frameworks, and potential offtake agreements.
“Through this important partnership with Mitsui, we have jointly identified markets that offer a good fit for our graphite, and discussions are ongoing to establish volume, pricing ranges, and potential offtake opportunities,” Corrie explained.
