Hazer Group, a pioneering technology development company, has recently announced a significant agreement with one of the world’s largest steel producers, POSCO. The Memorandum of Understanding (MoU) signed between Hazer Group and POSCO marks a major milestone in the commercialization of the Hazer process, a revolutionary technology that enables the production of lower emission hydrogen and high-quality graphite.
POSCO, a $20 billion US company and the sixth-largest steelmaker in the world, has recognized the importance of decarbonizing the steelmaking process, which accounts for 8% of the world’s greenhouse gas emissions. By partnering with Hazer Group, POSCO aims to utilize clean hydrogen produced through the Hazer process to reduce carbon emissions and achieve their sustainability goals.
Glenn Corrie, CEO of Hazer Group, emphasized the strategic significance of the partnership with POSCO, highlighting the potential for scaling up hydrogen production to up to 200,000 tons per annum. The collaboration with POSCO is just one of the many exciting developments for Hazer technology, with ongoing conversations with other steelmaking manufacturers and potential clients in various industries.
Beyond steelmaking, Hazer Group has identified refining, ammonia production, petrochemicals, and other industries as prime targets for the Hazer process. With a growing demand for clean hydrogen and graphite, Hazer Group is poised to become a key player in the hydrogen technology space, offering investors a unique opportunity to participate in the transition towards a sustainable future.
The licensing model adopted by Hazer Group emphasizes a capital-light approach, allowing the company to accelerate access to free cash flow and focus on licensing their technology to industry partners. With a clear pathway to commercialization and strategic partnerships in place, Hazer Group is set to make a significant impact in the global shift towards clean energy and decarbonization.
