HZR CEO Glen Corrie’s 5/5/26 Letter to Shareholders plus Investor Presentation gives a good overview of where the company’s at right now. Nothing new announced, but the letter was notable in demonstrating just how much HZR is leaning into the opportunities created by the Iran war, which has resulted in every country around the world realizing their vulnerabilities not just with oil, gas and other fuels but also ammonia, methanol, fertilizer, hydrogen and critical minerals. As Corrie points out, HZR sits at the intersection of energy security, industrial resilience and critical mineral supply.

The letter is a recap of what they are currently doing and the tone is all about seizing the opportunities.

The last sentence reads: “With strong technology validation, growing commercial momentum, world-class partners and clear market tailwinds, we are confident in the pathway ahead and excited by the scale of the opportunity before us.”

Now to see how this all plays out - and given the type of business and the licensing/royalties timelines, that means over the next several years rather than the next 6 months.

Discl: Held