Hazer’s Reduced Losses and Rising Revenues Signal Shift but Risks Remain
Hazer Group has reported a remarkable FY25 performance with revenues more than doubling and losses slashed by 60%, underpinned by a strategic partnership with KBR and early commercial revenues.
- Revenue surged 124% to $8.5 million in FY25
- Loss after tax reduced by 60% to $7.6 million
- Early completion of Commercial Demonstration Plant test program
- Strategic global alliance formed with engineering giant KBR
- Secured $6.2 million WA Government grant and first operating revenues from FortisBC
Strong Financial Turnaround
Hazer Group Ltd has delivered a standout financial performance for the fiscal year ended June 30, 2025, doubling its revenue to $8.5 million, a 124% increase from the previous year. This growth was accompanied by a significant 60% reduction in losses after tax, which fell to $7.6 million. The company also achieved an 80% reduction in capital expenditure, reflecting its transition from construction to operational phases.
Operational Milestones and Commercial Progress
Operationally, Hazer completed its Commercial Demonstration Plant (CDP) test program ahead of schedule in November 2024, a key milestone that de-risked its scale-up plans and informed its commercial strategy. The company also recorded its maiden operating revenue of $0.6 million from engineering services provided to FortisBC in Canada, marking the start of a recurring revenue stream tied to ongoing project development.
Strategic Alliances and Market Positioning
A pivotal development was the execution of a global strategic alliance with Kellogg Brown and Root LLC (KBR), a leader in technology and engineering solutions. Under this agreement, KBR will serve as Hazer’s exclusive global licensing and engineering partner in key hydrogen markets such as ammonia and methanol. This partnership is expected to accelerate the commercial deployment of Hazer’s low-emissions hydrogen technology and expand its global footprint across North America, Asia, Europe, and the Middle East.
Government Support and Intellectual Property
Hazer also secured a $6.2 million grant from the Western Australian Government’s Lower Carbon Grant – Gorgon Fund, with $3.8 million received during FY25. The company strengthened its intellectual property portfolio by securing additional patents in Europe, Japan, and the USA, reinforcing its competitive position in priority markets.
Looking Ahead, FY26 Priorities
Looking forward, Hazer aims to leverage its alliance with KBR to accelerate licensing deals and feasibility studies, particularly advancing the FortisBC project towards a final investment decision. The company plans to scale up its technology to produce up to 50,000 tonnes of hydrogen annually and continue monetising its graphite co-product through partnerships with Mitsui and others. Maintaining financial discipline while driving commercial growth remains a core focus for FY26.
Bottom Line?
Hazer’s FY25 results set a solid foundation, but the market will watch closely as licensing deals and large-scale projects move from promise to reality.
Questions in the middle?
- How quickly will Hazer convert feasibility studies into firm licensing agreements?
- What impact will the KBR alliance have on Hazer’s global market penetration?
- Can Hazer successfully scale production to meet growing hydrogen demand?
