A clean energy technology developed at the University of Western Australia with funding from Wesfarmers is the driving force behind Hazer Group, which is looking to secure up to $5 million as it prepares to list on the Australian Securities Exchange later this year.
Hazer Group is is on track to make an initial public offering, after developing technology which it says produces both low-cost clean hydrogen as well as high quality, battery-grade synthetic graphite.
Hazer Group has employed Mac Equity Partners to issue 25 million shares at 20 cents each.
Hazer Group managing director Geoff Pocock said the company – currently valued at $7 million – was aiming to complete the capital raising by the end of October and be listed on the ASX by late 2015.
“The market capitalisation of the company post-listing is expected to be approximately $12 million,” he said.
Hazer Group has spent eight years and $6 million developing a commercial process that uses natural gas and unprocessed iron ore to create hydrogen, considered to be a key fuel in the transition to low carbon economy, and graphite, used in lithium ion batteries, lubrication and industrial applications.
Mr Pocock, who is also a director at boutique agency Polaris Consulting, said the markets for both products were immense, making commercial opportunities for the company very attractive.
“Hydrogen alone represents a $100 billion market globally,” he said.
Mr Pocock said besides clean energy, hydrogen was also used in making fertilisers and explosives.
“The world graphite market is poised for continued growth, in no small part due to the growing demand for electric vehicles, each of which requires approximately 100 kilograms of graphite,” he said.
