Under the memorandum of understanding (MoU), Hazer and Mitsui have agreed to conduct an initial marketing survey of applications of Hazer’s low emissions graphite in the steel making and chemicals industries, utilising Mitsui’s global network.
This MoU is a result of an extensive period of technology review and market assessment conducted by Mitsui.
Hazer and Mitsui will jointly explore potential customers, applications, and partners in Asia, Oceania, North America, and Europe to establish the potential value for Hazer graphite and to contribute to the decarbonisation of existing industrial supply chains and manufacturing processes.
In addition to the initial marketing survey, Hazer and Mitsui have agreed to jointly explore other potential commercial opportunities on mutually agreeable terms.
Glenn Corrie, CEO of Hazer Group said the company is pleased to be collaborating with Mitsui, one of the world’s leading trading and investment companies.
“Our innovative technology to produce low emissions hydrogen and graphitic carbon offers a low-cost solution to decarbonise hard-to-abate sectors, such as the steel making and chemicals industries,” said Corrie.
“It is a privilege to be working alongside Mitsui, a highly respected and reputable group with unprecedented market access, to explore markets and customers across the world for our potentially valuable graphite material.”
The MOU has an initial term of one year and can be extended by mutual agreement.
Each party has agreed to cover their own costs incurred and the arrangement does not restrict either party from discussing, entering or implementing a similar transaction or similar relationship with third parties.