A new graphene technology Sparc Technologies Limited debuted on the stock market yesterday with its shares immediately rising by more than 50 per cent.
The South Australian company, which has licenced graphene-based technologies from the University of Adelaide, rose quickly from its 20 cent listing price to 31 cents.
The university, a cornerstone shareholder in Sparc, has licensed three technologies related to marine and protective coatings, water purification and soil remediation, and sound absorption.
The company will fund graphene research at the university with further projects identified and $500,000 earmarked to develop its first project.
The company, which achieved a listing via a reverse takeover of coal stock Acacia Coal, will not pay royalties on the technologies given the university’s participation as a shareholder.
Sparc has $6 million in the bank to develop its business.
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