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Hazer Group Limited (ASX:HZR) is a technology development company which commercializes the use of a low-emission hydrogen and graphite production process. Hazer Group Limited made an announcement on 17 December 2018 stating that it has been advised of the acceptance of one of its Australian patent applications and grant of two patents covering various aspects of the Hazer Process.
The company is pursuing a structured and rigorous intellectual property (IP) protection program through a series of Australian and International patent applications through 4 patent application families under the International patent treaty and national jurisdiction rules. The remaining patent applications will be pursued as per the normal procedures of the various patent organizations.
The Australian patent office has accepted the companyâs Australian patent application entitled âA process for producing hydrogen and graphitic carbon from hydrocarbonsâ. The application is now going to enter the mandated opposition period. As per the companyâs announcement, after the expiration of the opposition period, the Deed of Letters Patent will be issued three months from the date of advertisement.
Hazer is also pleased to announce that its two innovation patents (AU 2018101788 and 2018101787) have now been granted. These innovation patents will broaden the companyâs future licensing pathways, and it will provide additional protection to preserve the companyâs rights with regards to the Hazer Process.
While providing the intellectual property update, the companyâs Chief Executive Officer (CEO), Mr. Geoff Ward said that the company is extremely pleased to have received the award of these innovation patents and acceptance of the companyâs first Australian patent. The company will continue to pursue its remaining patent applications as part of its ongoing IP protection strategy. Further, the company is looking forward to keep developing its strong intellectual property portfolio position as the company continue to learn more about its technology, its products, and applications and progress the Hazer Process through commercial demonstration and scale-up phases.
On 17 December 2018, the company also announced that the companyâs Directors and Chief Executive Officer Mr. Geoff Ward have invested a total of $400,000 in the Company through the purchase of 1 million existing Series C options at $0.05 per option and the exercise of 1.4 million Series C options at an exercise price of $0.25 per share.
In the last six months, the share price of the company increased by 21.15 percent as on 14 December 2018. HZRâs shares traded at $0.315 with a market capitalization of circa $28.89 million as on 17 December 2018.
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