ARENA accelerates Hazer Group funding

The Australian Renewable Energy Agency has agreed to accelerate the payment of support for the development of a plant to produce hydrogen from methane biogas being developed by Hazer Group.

In 2020 Hazer and ARENA executed an agreement that will see it develop a $16.5 million commercial demonstration plant to produce low emission hydrogen .

Under the agreement the Perth company will receive $9.41 million in funding to construct the Hazer Process Commercial Demonstration Project, with payments made on achievement of milestones.

Hazer announced today it had achieved a key progress milestone facilitating the drawdown of $2.97 million in cash.

The company and ARENA have agreed to amend the original terms of their agreement, dividing what was originally a single Tranche 3 payment into two.

The $2.97 million represents the first part of that stage, the practical completion and commissioning of cold operations.

The remaining $950,000 under Tranche 3 will now be paid following commissioning of hot operations.

Hazer CEO Glenn Corrie said: “We are delighted to have executed this variation to the funding agreement with ARENA, which recognises the solid progress we have made with our (plant) and strengthens our ability to fast-tract the commercial scale-up of our hydrogen technology.”

Hazer Group is a University of Western Australia spin-out business with the project being constructed at the Western Australian Water Board’s Woodman Point wastewater treatment plant.

Further reading:
HAZER GROUP MOVES AHEAD WITH LOW EMISSION HYDROGEN PLANT

Picture: Hazer Group