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.
First mover advantage
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.
Formidable combination
“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%).
Progress to date
Although the agreements between the three entities have been negotiated over the past four months, a number of project-specific activites are already underway.
These include:
- The order of key equipment for the project back in December. Delivery is expected in March/April 2022;
- The commencement of a preliminary Techno Economic Assessment (TEA) of the technology. This is expected to demonstrate itsstrong economic potential, subject to the achievement of specific solar to hydrogen efficiency (STH %) improvements from ongoing research and development work;
- Sparc collaborating with the UoA with the aim to develop graphene related materials to enhance the production of commercially viable ultra-green hydrogen via photocatalysis; and
- The reimbursement from Sparc Hydrogen to Sparc Technologies of $510,000 has been made from FFI’s initial payment.
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.
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