Hazer Group has signed a binding memorandum of understanding (MoU) with M Resources to integrate its methane pyrolysis technology into a bid for South Australia’s Whyalla steelworks.

This partnership offers a decarbonization path by providing low-cost hydrogen to replace natural gas in the Direct Reduction Process. In addition, the process generates synthetic graphite for use in electric arc furnaces.

Supported by technology and engineering company KBR, the project meets the Australian government's goals to establish Whyalla as a green industrial hub. The deal grants Hazer exclusivity for this acquisition attempt while maintaining its intellectual property rights.

Beyond Australia, both companies intend to explore similar low-emission steel projects in the US and the Middle East to meet rising global hydrogen demand.