Because my questions remained unanswered I contacted the company and received a reply this morning.
My questions and a paraphrasing of their answers
Thank you for providing the recent webinars concerning the company’s progress to date. Unfortunately, some questions I submitted prior to the webinars as well as during them in the Q and A were not answered. Therefore, I would be grateful if you could answer them by reply email. I understand the company’s reluctance to provide data to the market until testing is complete, but at the very least, reasons why the data is being withheld should be provided. Data from the pilot plant was released to the market at far earlier stages. Promises of “investors will be hearing lots from the CDP in the coming months” are not being fulfilled, while customers are, according to the 23/10/24 webinar having data shared.
I’d be grateful if the following inconsistencies could be clarified.
1. What is the situation with the fuel cell operation? Is it being used to power the reactor?
The Euroz report states that “hydrogen is being used in a fuel cell to demonstrate the capability of the zero-emissions fuel source…”, yet Tim said in the 23/10/24 webinar that the “hydrogen currently being produced is being burned”. Which is correct?
2.In the 23/10/24 webinar Tim described the reactor as being 1 foot or 300cm in diameter. Which is it? (presume he meant 300mm). Regarding reactor size the photo provided in the quarterly of the Hatch reactor does not include any scale. What is its diameter?
3. Regarding the new reactor, the quarterly states “the new reactor completed”, in the 17/10/24 webinar Glen confirms this saying “it’s ready to rock and roll”, yet Tim said in the 23/10/24 webinar “fabrication progressing well”. Which is correct?
4.It also does not show a refractory liner. Has the design now abandoned this idea? Have Hazer now gone back to a high temperature alloy again, or is the new reactor not completed, or is the pic provided out of date?
As a long-time shareholder and enthusiastic supporter of the Hazer technology,
I look forward to your response.
Response: (my words as their reply is marked confidential)
Understandably any disclosures do not want to compromise trade secrete or IP. Confidentiality agreements are in place for customers.
While the fuel cell is installed the hydrogen is currently being flared and is not therefore part of the current testing phase.
The current reactor is approximately 1ft in diameter. The Mk2 reactor diameter is trade secret.
While the reactor shell has completed fabrication, but its assembly, including the refractory lining, will not take place until the testing of the Mk1 reactor is complete (due by the end of 2024).
(20min delay)