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Hazer has the graphite – but not the process.The University of Sydney is leading the research into refining and upgrading the graphite, potentially for use in battery anodes. While Hazer supplies the material, the know-how and scientific work around purification, characterisation and application development remain with the university – specifically Professor Yuan Chen’s team.Until technical validation, intellectual property rights, and commercial strategy are clearly defined, Hazer is likely choosing not to explicitly communicate any battery-grade graphite ambitions. This approach avoids legal risks, manages investor expectations, and respects the university’s research leadership.Hazer is strategically positioned, but not yet in possession of a proprietary purification process – and that makes a difference.