Sparc Technologies raises $2.2 million 

Materials and renewable energy development and commercialisation company Sparc Technologies has announced firm commitments to raise $2.2 million through a share placement, with a further share purchase plan expected to raise another $500,000.

In a statement on Thursday, Sparc said the placement at $0.15 per share was “strongly supported by existing and new investors”.

The $2.7 million will support commercialisation of the company’s ecosparc coating product, support for its Sparc Hydrogen joint venture, ongoing R&D and general working capital.

“We are extremely pleased with the strong support for the Company demonstrated by both our existing  shareholders and new investors,” said Managing Director Nick O’Loughlin. 

“Importantly, this capital raise means that Sparc is well funded to progress its ecosparc graphene based additive through to commercialisation and to support Sparc Hydrogen’s progression through piloting activities at Roseworthy in South Australia.” 

The news follows successful initial inspection results announced this week for an ecosparc anti-corrosion coating field trial at Streaky Bay Jetty in South Australia.

Additional field trials are underway with companies including 29Metals, Santos and BHP Mitsubishi Alliance.

Sparc Hydrogen, meanwhile, is a JV between Sparc Technologies, Fortescue and the University of Adelaide. Sparc Technologies added that the hydrogen venture is now “fully-funded through to mid-2026”.

Construction began in March for the JV’s pilot facility at the University of Adelaide’s Roseworthy Campus. When finished, this will use photocatalytic water splitting (PWS) technology to produce hydrogen directly from water using sunlight and a photocatalyst material, rather than electrolysis.

Picture: Site preparation activities, Roseworthy, South Australia (credit Sparc)

Further reading

Sparc Hydrogen reveals details of photocatalytic hydrogen pilot plant

Sparc Technologies reports successful ecosparc field trial results

Sparc Technologies’ anti-corrosive graphene additive to be trialled at BMA coal handling plant

Sparc extends benefits to water based coatings

Sparc Hydrogen reveals details of photocatalytic hydrogen pilot plant

First-of-its-kind green hydrogen facility begins construction in South Australia