Sparc stays at the forefront of the green-hydrogen shift, in key research partnership with Fortescue Future Industries
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Sparc Technologies’ new joint venture – Sparc Hydrogen with Fortescue Future Industries (FFI) and the University of Adelaide (UoA) – is seeking to develop graphene-related materials to enhance the production of commercial green hydrogen via photocatalysis.
This novel photocatalytic water splitting technology has been developed by the University of Adelaide and Flinders University. And FFI is now set to support research, development, and commercialisation work.
Sparc (ASX:SPN) says the tech has the potential to “revolutionise hydrogen production” in a market that is projected to grow six-fold by 2050 from US$150 billion currently to US$1 trillion.
The plan is to have a commercially ready technology targeting sub $2/kg production costs at the completion of the program.
Should the results from the staged research and development program being conducted at UoA progress as planned, Sparc Hydrogen will have an advantageous position over conventional green hydrogen developers.
Thatmeans not only in terms of cost of production, but also scalability and the ability to produce hydrogen in remote, off-grid locations.
“The inclusion in the JV of world leading green energy company, FFI, adds enormous value in terms of project development, technology and commercialisation capabilities,” SPN executive chairman Stephen Hunt said.
“These attributes combined with UoA’s research experience and unique skills with photocatalytic water splitting, together with Sparc’s project management and graphene expertise, makes for a formidable combination in this transformational green energy technology.”
The Sparc Hydrogen JV comprises Sparc (52%), UoA (28%), and FFI (20%).
Although the agreements between the three entities have been negotiated over the past four months, a number of project-specific activites are already underway.
This article was developed in collaboration with Sparc Technologies, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.