Hazer Group Ltd announced, it has signed a non-binding Memorandum of Understanding (“MOU”) with POSCO Steel (“POSCO”) to prepare a project pathway for the integration of Hazer’s technology into POSCO’s low carbon steel.
POSCO, based in Pohang South Korea, is one of the world’s largest steel makers and has announced its plan to achieve carbon neutrality by 2050. With POSCO Holdings in the lead, POSCO Group is seeking balanced growth across seven core businesses: steel, rechargeable battery materials, lithium/nickel, hydrogen, energy, construction/infrastructure and agri-bio. These businesses propel POSCO Group’s evolution into a leading provider of eco-friendly future materials, net-zero steelmaker, future transportation architect, green energy pioneer, innovator of future housing and global food supplier.
Under the MOU, POSCO and Hazer will collaborate to develop a plan to integrate Hazer’s hydrogen production technology into POSCO’s low-carbon steel production. POSCO and Hazer will also assess the application of Hazer’s low emissions graphite product in various parts of the steel making process, as well as a market investigation into the applications of Hazer graphite outside of steel. This MOU follows an extensive period of due diligence conducted by POSCO on the Company, its proprietary methane pyrolysis technology to produce clean hydrogen and graphite, and initial technical discussions around the technology integration.
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Press release https://shorturl.at/tKbdx
