Australian clean-tech business Hazer Group (ASX: HZR) has strengthened its intellectual property (IP) portfolio with the approval of a key US patent that protects the company’s innovative process for hydrogen and graphitic carbon production.
Management noted that the new authorisation from the United States Patent and Trademark Office Strategic reinforces the company’s competitive position and marks a milestone in its efforts to tap into the targeted North American market.
The formal tick of approval lifts Hazer’s registered patents in the US to four, spanning several distinct technology families that underpin Hazer’s production process.
Strengthened IP protection
Management believes the new patent brings to light the company’s globally leading position in methane pyrolysis and decarbonisation technologies, and helps to ensure that its innovative technology remains well positioned in major global markets.
More specifically, the new patent cover’s Hazer’s proprietary process which enables the efficient and cost-effective production of clean hydrogen, whilst also capturing valuable carbon materials.
This process involves a method for pre-treating a naturally occurring polycrystalline iron-ore-grade catalyst and utilising a fluidised bed reactor to convert hydrocarbons into hydrogen and high-quality carbon materials, with separate extraction streams for each product.
Hazer Group chief executive officer and managing director, Glenn Corrie, commented:
“The US and North America more broadly are strategic markets for clean energy innovation, and our proprietary technology provides an attractive pathway for locally produced low-cost, clean hydrogen and graphite utilising existing natural gas infrastructure and supply chains.”
Competitive strengths
Hazer’s advanced technology is designed to facilitate the production of clean and economically competitive hydrogen and high-quality graphite by using a natural gas or biogas feedstock, with iron-ore as the process catalyst.
According to the company, this process has already been successfully validated and derisked at the group’s ‘Commercial Demonstration Plant’ in Perth, potentially paving the way for large-scale hydrogen production.
Management believes the Hazer production process boasts several competitive advantages in the clean hydrogen space. These include confirmed economic viability, proven scalability, and smaller costs stemming from reduced energy intensity.
The process is also believed to produce hydrogen with an anticipated emission reduction of at least 50 per cent when compared to alternative fossil fuel-based hydrogen methods such as Steam Methane Reforming.
Notably, a core aspect of the company’s business model is centred on lowered capital costs which could allow for early free-cashflow generation via licensing and royalty revenues.
Growing patent portfolio
Hydrogen is commonly used as an industrial chemical predominantly in the petroleum industry, and for the production of ammonia. Management estimates that the global market for hydrogen is valued at more than US$100 billion.
Hazer continues to pursue patent filings across multiple jurisdictions in line with its strategic intellectual property roadmap and commercialisation push.
It has already secured a string of patent approvals across various jurisdiction, including a key patent for graphite morphology in the European Union and another one in Japan for hydrogen production using an iron-ore catalyst.