Perth Australia based Hazer Group has executed a Memorandum of Understanding with Suncor Energy Inc and FortisBC Energy Inc to develop a 2,500 tonnes per annum low-carbon emission hydrogen production facility based on the Hazer Technology. The proposed Hydrogen Project will process natural gas feedstock to produce 2,500 tonnes per annum low-carbon emission hydrogen and approximately 9,000 tonnes of synthetic graphite by-product. Under the MOU, Hazer, Suncor and FortisBC have agreed to work collaboratively to develop the Project throughi) An initial Feasibility Studyii) Securing funding arrangements for the Project iii) To conclude the binding agreements necessary to establish the Project consortium and implement the Project. Suncor will lead the development of the Project through the initial feasibility study, engineering, and construction phases of the Project, and on completion, will operate the facility. FortisBC will supply natural gas feedstock to the Project and will purchase the hydrogen produced from the facility. Hazer will supply the Hazer Process technology, lead engineering relating to the core Hazer technology components, and manage supply of catalyst to the Project.The Feasibility Study stage of the Project will commence this month with the award of an engineering services contract. The initial high-level schedule for the Project targets a final investment decision in 2023, with operations targeted to commence in 2025.As part of the project collaboration, Suncor, FortisBC and Hazer have committed to enter negotiations for a Technology Access Agreement under which Suncor and FortisBC will have exclusive access to the Hazer Technology for further development and deployment in Canada and the state of Colorado (USA), in return for a royalty payment regime and commitments to support the deployment of the Hazer Technology.
Perth Australia based Hazer Group has executed a Memorandum of Understanding with Suncor Energy Inc and FortisBC Energy Inc to develop a 2,500 tonnes per annum low-carbon emission hydrogen production facility based on the Hazer Technology. The proposed Hydrogen Project will process natural gas feedstock to produce 2,500 tonnes per annum low-carbon emission hydrogen and approximately 9,000 tonnes of synthetic graphite by-product. Under the MOU, Hazer, Suncor and FortisBC have agreed to work collaboratively to develop the Project throughi) An initial Feasibility Studyii) Securing funding arrangements for the Project iii) To conclude the binding agreements necessary to establish the Project consortium and implement the Project. Suncor will lead the development of the Project through the initial feasibility study, engineering, and construction phases of the Project, and on completion, will operate the facility. FortisBC will supply natural gas feedstock to the Project and will purchase the hydrogen produced from the facility. Hazer will supply the Hazer Process technology, lead engineering relating to the core Hazer technology components, and manage supply of catalyst to the Project.The Feasibility Study stage of the Project will commence this month with the award of an engineering services contract. The initial high-level schedule for the Project targets a final investment decision in 2023, with operations targeted to commence in 2025.As part of the project collaboration, Suncor, FortisBC and Hazer have committed to enter negotiations for a Technology Access Agreement under which Suncor and FortisBC will have exclusive access to the Hazer Technology for further development and deployment in Canada and the state of Colorado (USA), in return for a royalty payment regime and commitments to support the deployment of the Hazer Technology.
