Australia's Hazer Group jumps on MoU to develop hydrogen production facility

Hazer

11/02/2022 24:43

** Shares of Hazer Group Ltd  HZR.AX  jump as much as 14.2%
to A$1.085, their biggest intraday pct gain since Jan. 5
    ** The graphite and hydrogen producer executes Memorandum of
Understanding (MoU) with Canada-based Suncor Energy and FortisBC
Energy to develop a low-carbon emission hydrogen production
facility
    ** Proposed project will process natural gas feedstock to
produce 2,500 tonnes/annum low-carbon emission hydrogen and
~9,000 tonnes of synthetic graphite by-product - HZR
    ** Stock hits its highest since Jan. 21
    ** More than 2.4 mln shares change hands, vs the 30-day
average volume of ~760,000 shares
    ** Stock down 17% this year, as of last close
    
  

 (Reporting by Harish Sridharan in Bengaluru)
 ((harish.sridharan@thomsonreuters.com))