Hazer Group (ASX:HZR) said it secured funding of AU$15.5 million as of Dec. 31, 2024, including AU$9.3 million of available cash, according to a Tuesday filing with the Australian bourse.
The company was awarded a AU$6.2 million grant from the government of Western Australia under the Lower Carbon Grants Program - Gorgon Fund. It also received a research and development tax incentive refund of AU$5.1 million during the fiscal year 2024.
It completed its commercial demonstration plant and reactor test program during the period, reaching over 450 hours of stable, continuous operation.
The firm, its commercial partners, and potential offtakers are evaluating the graphite produced for use in high-volume, high-confidence market applications.
It said it is engaging with and in talks with potential customers and strategic partners, particularly in Australia, North America, and Asia.
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