POSCO and Hazer Collaborate on Well-organized Hydrogen Manufacturing Technology for Low Carbon Steel

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GlobeNewswire

Printed Can also 30, 2024  •  Final up so a long way 21 hours ago  •  4 minute read

  • Hazer and POSCO to originate a mission pathway for the combination of Hazer’s hydrogen and graphite manufacturing know-how into POSCO’s steel manufacturing assignment.
  • MoU represents provide of the following segment of Hazer’s scale-up strategy into key industrial markets with tier-1 companions.
  • Steel making is a carbon intensive industry, accountable for over 8% of world carbon emissions. Hazer’s know-how is uniquely positioned to crimson meat up the decarbonisation of this assignment.

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PERTH, Australia , Can also 30, 2024 (GLOBE NEWSWIRE) — Hazer Workforce Ltd (“Hazer” or “the Company”) (ASX: HZR) is happy to shriek it has signed a non-binding Memorandum of Thought (“MOU”) with POSCO Steel (“POSCO”) to put together a mission pathway for the combination of Hazer’s know-how into POSCO’s low carbon steel.

POSCO, primarily primarily based fully in Pohang South Korea, is one of the most enviornment’s largest steel makers and has presented its notion to place carbon neutrality by 2050. With POSCO Holdings within the lead, POSCO Workforce is seeking balanced increase one day of seven core businesses: steel, rechargeable battery materials, lithium/nickel, hydrogen, vitality, construction/infrastructure and agri-bio. These businesses propel POSCO Workforce’s evolution into a main provider of eco-friendly future materials, gather-zero steelmaker, future transportation architect, green vitality pioneer, innovator of future housing and world food provider.

Below the MOU, POSCO and Hazer will collaborate to originate a notion to mix Hazer’s hydrogen manufacturing know-how into POSCO’s low-carbon steel manufacturing. POSCO and Hazer can even assess the applying of Hazer’s low emissions graphite product in various parts of the steel making assignment, as well to a market investigation into the applications of Hazer graphite outside of steel.

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This MOU follows an intensive interval of due diligence performed by POSCO on the Company, its proprietary methane pyrolysis know-how to manufacture intelligent hydrogen and graphite, and preliminary technical discussions round the know-how integration.

POSCO’s Head of Technical Be taught Lab / Senior Govt Vice President, Dr. Seong-yeon Kim said: “At POSCO we’re extremely centered on the reduce price of emissions from the steel making assignment and maintain dedicated to lowering worksite emissions by 10% by 2030, 50% by 2040 and being 100% carbon honest by 2050. We mediate Hazer’s weird know-how affords indispensable advantages that enable us to place our Procure Zero imaginative and prescient as location out in our 2050 Carbon Neutrality Roadmap.”

Hazer’s CEO and MD Glenn Corrie said:
“I’m joyful to launch up this indispensable collaboration mission with POSCO, one of the most enviornment’s largest and most aggressive steelmakers, demonstrating how gigantic and numerous of the industrial alternatives are for Hazer and its know-how.

We identified the steelmaking industry as one of our key strategic and industrial targets for the Hazer Job given it is a notoriously laborious to abate the sector. It’s a huge privilege and unimaginable achievement to be working alongside the form of gigantic company that’s dedicated to carbon neutrality.

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This MOU will enable the following segment of our scale-up strategy into this key market with a first-rate company recognized for its sustainability point of curiosity and innovation. We peep ahead to our future in decarbonising the steel making industry and achieving industrial success with POSCO.”

Steel making is a carbon intensive industry, accountable for over 8% of world carbon emissions. Hazer’s know-how is uniquely positioned to crimson meat up the decarbonisation of steel manufacturing using cheap, intelligent-hydrogen and Hazer Graphite manufacturing, using iron-ore as a assignment catalyst. Hazer continues to maintain ongoing discussions on the applying of every hydrogen and graphite within the blast furnace and Inform Diminished Iron (“DRI”) / Electrical Arc Furnace (“EAF”) steel making processes with main steel makers worldwide.

The MOU has an preliminary interval of time of 2 years. For the length of this time, the events maintain agreed to work collaboratively to originate plans to mix Hazer know-how into POSCO’s steel manufacturing assignment and mission trend agreements. Each and every social gathering is accountable for its occupy price to meet the targets under this MOU. Occasions are licensed to originate similar tasks independently.

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This announcement is licensed for unlock by the Board of the Company.

For extra records or investor enquiries, please contact:

About Hazer Workforce Ltd
Hazer Workforce is an Australian know-how company, driving world decarbonisation efforts with the commercialisation of the corporate’s disruptive world-main climate-tech. Hazer’s superior know-how permits the manufacturing of intelligent and economically aggressive hydrogen and high-quality graphite, using a natural gas (or biogas) feedstock and iron-ore because the formulation catalyst.

Hazer Workforce Diminutive – Social Media Policy
Hazer Workforce Diminutive is dedicated to communicating with the investment community thru all accessible channels. While ASX stays the prime channel for market-graceful news, investors and numerous of events are encouraged to maintain a examine Hazer on X (Twitter) (@hazergroupltd), LinkedIn, Fb, and YouTube. Subscribe to HAZER NEWS ALERTS – bid about with our web site at www.hazergroup.com.au and subscribe to receive HAZER NEWS ALERTS, our electronic mail alert provider. HAZER NEWS ALERTS is the fastest manner to receive breaking news about @hazergroupltd.

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Forward-making an are attempting Statements
This announcement would possibly simply occupy obvious “forward-making an are attempting statements” that would possibly simply no longer had been primarily primarily based fully completely on historical info but are per the Company’s present expectations about future events and outcomes.

The place the Company expresses or implies an expectation or perception as to future events or outcomes, such expectation or perception is expressed in fair appropriate faith and believed to maintain an cheap basis. Then as soon as more, forward-making an are attempting statements are subject to risks, uncertainties, assumptions, and numerous of things, which would possibly per chance motive valid outcomes to differ materially to futures outcomes expressed, projected, or implied by such forward making an are attempting statements.

The Company would now not undertake any obligation to unlock publicly any revisions to any “forward-making an are attempting statements” to mediate events or conditions after the date of this announcement, or to mediate the prevalence of unanticipated events, apart from as would possibly per chance be required under the acceptable securities licensed guidelines.


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