Hazer Group Completes Pilot Rig Testing Program | Commodities

Hazer Group (ASX:HZR) stated on Tuesday (March 4) that a pilot rig testing program has been accomplished for a project in BC, Canada, that it’s collaborating on with Canadian power utility company FortisBC.

The businesses entered into a binding project development settlement in Could 2024 to develop a hydrogen manufacturing facility within the province utilizing Hazer’s technology. FortisBC owns the project and is licensing Hazer’s technology for the positioning, which is designed to supply 2,500 tonnes of hydrogen and 9,500 tonnes of graphite per yr.

The project has acquired C$8 million in funding from the BC authorities’s CleanBC Trade Fund.

In response to Hazer, the pilot rig testing program has generated knowledge that de-risks and validates commercial-scale reactor designs, together with the design for the reactor that shall be used for the Canada project.

The company notes that a “flawless” testing program passed off constantly over 4 days. Amongst different outcomes, it confirmed the steadiness of Hazer’s course of utilizing business gear underneath prolonged working circumstances.

The outcomes will now be used to optimize the design of the Canada project’s 2,500 tonne commercial-scale reactor, and for larger-scale plants with hydrogen manufacturing capacities of over 20,000 tonnes yearly.

Progress has additionally been made towards web site choice, which is essential for the success of the project. Hazer stated that FortisBC has created a shortlist and is working feasibility research. As soon as web site choice has occurred, a front-end engineering and design research shall be accomplished. A closing investment choice is focused for this yr.

Hydrogen development in Canada

In response to a Could 2024 replace report on Canada’s hydrogen strategy, there’s a growing curiosity in low-carbon hydrogen, with about 80 tasks representing over C$100 billion in potential investment.

Developments within the nation show low-carbon hydrogen can help Canada’s street to internet zero by 2050.

In November 2024, the Australian Hydrogen Analysis Community (AHRN) and Hydrogen Analysis Institute Canada signed a memorandum of understanding to boost cooperation in hydrogen analysis and development.

The AHRN stated the deal covers actions such writing and submitting joint call proposals, joint analysis tasks, coaching packages, exchange visits and joint networking, together with joint analysis seminars and conferences.

The memorandum is legitimate for an initial period of three years.

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Securities Disclosure: I, Gabrielle de la Cruz, maintain no direct investment curiosity in any company talked about on this article.

The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.