While the delays to date in the commissioning of the continuous...

While the delays to date in the commissioning of the continuous operation elements of the PPP have been a cause for frustration it’s also somewhat understandable. Hazer are commissioning an all new process with a one off design, any parts that need modifications or replacement need to be designed/sourced/manufactured and likely lead to delays. Having had first hand commissioning experience this is something I can absolutely relate to.

During this period it seems that our technical gurus (thinkers) have identified a need to bolster the real world project delivery capabilities hence the addition of Chobus and more recently Mark Edwards.

Mark, now COO and formerly an advisor to Hazer has left his 15 yr project management/mech engineering role with Hatch to add some valuable (doer) experience to what is now a very well balanced team blended between innovation and delivery.

In terms of IP, I am assured that we have some very capable representation. Generally IP begins with a blanket approach and refines to specific attributes that differentiate the invention from and competing IP. The key thing here to me is that for decades Thermal decomposition of methane has been known to be able to produce hydrogen and carbon however the economics of that process have not to date rendered the tech efficient. The Hazer difference is that they have refined process to make the various inputs and outputs behave in a manner that represents commercial viability.

The thing many seem to forget is that any single step in a multi stage process can be the difference between success and failure in regards to commercial viability. At last check we had several claims deemed novel. Furthermore technical knowledge adds to our already significant pipeline of IP. At the end of the day we are a current leader and have the early backing of MIN for perhaps the most important first to market step.

On the mid case of 70% conversion efficiency we are looking at around $160/to produce graphite, no miner can compete with that. The hydrogen side gets little focus as it’s not a risk, the hydrogen side is a no brainer, it’s a $100b market, simply make it, purify via pressure swing absorption and sell it.