Sparc nabs R&D refund to further graphene-additive and renewables research

Sparc Technologies has scored a $934,000 R&D tax refund from the Australian Government for the 2022 financial year, which provides continued support for the company’s work on projects involving graphene, green hydrogen, and sustainable batteries.

The R&D Tax Incentive scheme is a program jointly administered by the Australian Taxation Office and AusIndustry, under which companies can receive up to a 48.5% refundable tax offset of eligible expenses on research and development activities.

Sparc Technologies (ASX:SPN) says the R&D claim for the 2023 financial year will reflect its continued R&D spend.

Funding graphene and renewables research

The company has licenced graphene-based technologies from the University of Adelaide, a leading institution in the field of graphene research, and will focus on commercialising graphene-based technologies for large industrial markets for marine and protective coatings and environmental remediation.

Just last month they wrapped up commissioning at the ecosparc production facility, with graphene additive product trials now underway with potential global end users.

Sparc executive chairman Stephen Hunt said they are delighted with the rebate – which will fund further research in the space.

“This rebate is a critical source of funding for our company and provides significant support for our research and development work in areas such as graphene-based additives and renewable energy,” he said.

This article was developed in collaboration with Sparc Technologies Limited, a Stockhead advertiser at the time of publishing.

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