Hazer Group (ASX:HZR) Secures MOU to Power Whyalla’s Green Steel Ambition

Hazer Signs Binding MOU, Moving Closer to Commercial Hydrogen Deployment

Hazer Group (ASX:HZR) announced a binding MOU that pushed the share price up 21% today. M Resources is looking to incorporate Hazer’s technology into its bid for the Whyalla steelworks in South Australia. The steelworks, currently owned by OneSteel Manufacturing, is up for sale as part of a broader effort to transition the site into a low emission hub. Under the MOU, Hazer’s process would be used to supply hydrogen, positioning the company as a potential technology partner in the decarbonisation of the facility.

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From Pilot to Partner

Hazer’s proprietary methane pyrolysis technology converts natural gas into clean hydrogen and high quality graphite, using iron ore as a catalyst and producing negligible CO2 emissions compared with traditional methods. The process captures carbon in solid graphite rather than releasing greenhouse gases, and its commercial viability has already been demonstrated through the company’s Perth pilot plant.

For investors who follow companies like Metallium or IperionX, Hazer’s model will feel familiar. The company generates revenue through licensing and partnership agreements, as well as through hydrogen and graphite sales. This collaboration has the potential to accelerate Hazer’s pathway to large scale revenue if M Resources wins the bid for Whyalla. For shareholders, the near term reaction has already been positive, with the stock lifting on the announcement. For the business, the agreement aligns closely with government backed green steel initiatives, which could help secure additional funding and validate the technology within a high profile industrial project.

Whyalla Bidding War Puts Hazer’s Hydrogen Process in the Spotlight

The Whyalla steelworks, a major asset in Australia’s iron and steel sector, entered administration in early 2025. Thirty Three Capital is managing the sale process, which formally began in June this year and has attracted strong international interest with fifteen bids submitted. For shareholders, a successful outcome for M Resources could unlock meaningful value. Whyalla would serve as a flagship deployment of Hazer’s technology, validating its commercial use at scale and driving stronger market sentiment, as we have already seen with the recent share price surge.

The broader opportunity is also appealing. Growth driven through partnerships rather than equity raises provides a non dilutive pathway forward, reducing risk for investors. At the same time, Hazer’s technology has potential applications across global markets, including the Middle East and the US, which gives the company a more diversified growth profile beyond the Whyalla bid.