Sparc Technologies Limited (ASX: SPN) Releases March 2025 Quarterly Report
Sparc Hydrogen Progresses to Stage 2
Sparc Hydrogen, a joint venture between Sparc Technologies, the University of Adelaide, and Fortescue, has advanced to Stage 2 with an A$2.5M investment. The company has commenced construction of its pilot plant, expected to be commissioned by mid-2025, and secured the first patent for its photocatalytic water splitting reactor in Morocco. This marks the first of 18 jurisdictions reviewing the patent, reinforcing Sparc Hydrogen’s position in green hydrogen technology.
Advancements in Graphene-Based Additives
Sparc Technologies signed its fourth trial agreement for ecosparc® enhanced coatings with BHP Mitsubishi Alliance. Initial inspections at the Streaky Bay field trial confirmed the enhanced anti-corrosion coating’s positive performance. The company is engaged with five of the eight largest global protective coatings companies and has been awarded an A$353,098 grant for developing graphene-enhanced netting for the aquaculture industry. Field trials with major asset owners are ongoing, aiming for commercial adoption in FY26.
Corporate Developments
Mr Simon Kidston, founder of Genex Power Ltd, has been appointed Non-Executive Chairman of Sparc Technologies. Additionally, the company launched a material capital raise on 29 April 2025, with further details to be released on 1 May 2025.
Financial Position
As of 31 March 2025, Sparc Technologies reported a cash balance of A$1.03M, excluding contributions from the recent capital raise. Cash expenditures included A$0.89M paid to Sparc Hydrogen, with no further shareholder funding expected until mid-2026. The company has an advance of A$0.73M from its FY25 R&D tax incentive, ensuring sufficient funds to support ongoing activities.
Motley Fool contributor Lauren Surplice has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Electro Optic Systems. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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