Hazer and Mitsui agree to advance collaboration on Hazer graphite

Hazer Group has signed an extension of a previously announced non-binding memorandum of understanding (MOU) with Mitsui, a global trading and investment company based in Japan, to advance activities relating to the joint investigation of the potential markets for Hazer graphite.

The Hazer Process is a novel method of producing low-emissions hydrogen from methane feedstock, capturing the carbon in the feedstock as solid graphite.

Under the original MOU, Hazer and Mitsui agreed to conduct an initial marketing survey of applications for Hazer’s low-emissions graphite in the steelmaking and chemicals industries, utilising Mitsui’s global network. Following detailed evaluation and testing, the parties have received positive market feedback and successfully identified several potential customers showing initial interest in Hazer graphite.

As a result, the parties have agreed to progress to the next phase of joint investigation, which involves further product evaluation and testing of larger samples to be provided from Hazer’s Commercial Demonstration Plant (CDP), which is expected to commence operations in 2023.

In addition to the joint market investigation for Hazer graphite, Hazer and Mitsui have agreed to jointly explore other potential commercial opportunities on mutually agreeable terms.

“We are pleased to be proceeding to the next phase of our joint investigation in partnership with Hazer to explore markets for Hazer’s unique graphite product,” said Ken Ito, General Manager of Mitsui’s Coal & Carbon Solutions Division. “Initial market investigations have delivered positive feedback from large industrial companies seeking to accelerate their decarbonisation strategies.”

“Graphite is one of the world’s critical minerals and Hazer is well positioned as a future large-scale producer at a time when there is significant uncertainty in the supply outlook for graphite resulting from China’s announcement to restrict exports,” said Hazer’s CEO and MD Glenn Corrie. “It is a privilege to be extending our strategic relationship with Mitsui, a highly respected and reputable partner with leading commodity market understanding, vision and reach. The positive market feedback from potential customers is very encouraging and we are excited about unlocking the market and monetisation opportunities for Hazer graphite as we move into the commercialisation phase of our strategy.”

Image: Synthetic graphite. Source: Hazer Group.