Hazer Group (ASX:HZR) signed the financial assistance agreement and accepted the related project plan under the Western Australian Government's Lower Carbon Grants Program - Gorgon Fund, according to a Monday filing with the Australian bourse.
The first payment of nearly AU$2 million from the AU$6.2 million funding package will be released in the first quarter of 2025, the filing said.
The company will be eligible to draw down the rest of the funds in multiple tranches, pending key milestones related to its commercial reactor scale-up program at the commercial demonstration plant, according to the filing.
The clean technology development company shares rose nearly 3% in morning trade Tuesday.
Price (AUD): $0.38, Change: $+0.010, Percent Change: +2.70%
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