Sparc Technologies (ASX:SPN) — through its triumvirate joint venture (JV) Sparc Hydrogen — has completed its first phase of prototype testing at the Commonwealth Scientific and Industrial Research Organisation (CSIRO) Energy Centre in Newcastle, New South Wales.
The $21.83 million market capitalisation company says the prototype testing represents the first demonstration of Sparc Hydrogen’s photocatalytic water splitting (PWS) reactor outside of the laboratory.
Sparc Technologies reports the key aims of the work included the advancement of the technology readiness level (TRL) of the PWS reactor from 4 to 5 and the provision of valuable data and information for pilot plant reactor design.
The company notes these goals were achieved, with numerous trial runs producing hydrogen gas and highlighting various reactor design modifications.
These modifications will be incorporated into the next generations of a PWS reactor.
Sparc Technologies confirms a pilot plant pre-front-end engineering and design (FEED) study is progressing, with completion expected prior to the end of the year.
Sparc Technologies Executive Chair Stephen Hunt says this testwork represents a ‘significant’ milestone for its technology, which the company expects to emerge as the next generation of green hydrogen production tech.
Meanwhile, the company announces the JV party recently received a government research and development (R&D) tax incentive totalling $371,655 relating to the 2023 financial year.
Sparc Technologies is focused on pioneering new technologies to deliver a more sustainable world. The company currently has offices established in Australia, Europe, and North America.
The company’s Sparc Hydrogen JV comprises Sparc Technologies, the University of Adelaide, and Fortescue (ASX:FMG), with Sparc Technologies holding the majority interest of 52%. Fortescue and the University of Adelaide own a 20% and 28% interest, respectively.
As of 30 September 2023, Sparc Technologies had $1.991 million cash and cash equivalents at hand, according to its latest quarterly report.
Write to Adam Drought at Mining.com.au
Images: Fortescue Future Industries