Hazer Group, based in Perth, successfully secured $10 million in funding through a placement and share purchase plan to drive the commercialization of its methane pyrolysis technology for clean hydrogen production. The company raised $8 million from institutional and sophisticated investors through a placement at a 13.9% discount to the last trade price. Additionally, a share purchase plan was launched to raise an extra $2 million from eligible shareholders. The CEO, Glenn Corrie, emphasized the importance of advancing their methane pyrolysis technology to produce clean hydrogen and high-purity graphite, highlighting the industry's current challenges. The funds will be utilized to scale up the methane reactor technology, develop synthetic graphite products, engage partners for licensing agreements, and enhance working capital. Notably, directors and management showed strong support by committing over $1 million to the placement. The funding, along with non-dilutive sources, aims to strengthen the company's financial position and support strategic milestones. Hazer's recent partnership with engineering firm KBR is set to expedite the global commercialization of their technology for clean hydrogen and graphite production, aligning with efforts to decarbonize challenging sectors.