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Sparc Technologies Ltd ( (AU:SPN) ) just unveiled an announcement.
Sparc Technologies has announced a significant milestone with its Sparc Hydrogen pilot plant in South Australia achieving sustained hydrogen generation using photocatalysis under concentrated solar conditions. This transition to operational testing marks a crucial step towards the commercialisation of their PWS technology, positioning Sparc Hydrogen at the forefront of the green hydrogen industry. The pilot plant will serve as a key facility for testing and scaling up this technology, which offers a novel approach to producing green hydrogen without the need for solar or wind farms and expensive electrolysers, potentially reducing costs and advancing the decarbonisation of hard-to-abate industries.
The most recent analyst rating on (AU:SPN) stock is a Hold with a A$0.15 price target. To see the full list of analyst forecasts on Sparc Technologies Ltd stock, see the AU:SPN Stock Forecast page.
More about Sparc Technologies Ltd
Sparc Technologies Limited operates in the green hydrogen industry, focusing on the development of innovative photocatalytic water splitting (PWS) technology. The company is involved in a joint venture with MIH2 Pty Ltd, a subsidiary of Fortescue Ltd, and the University of Adelaide, aiming to lead in the production of low-cost green hydrogen, a market projected to reach US$1.4 trillion annually by 2050.
Average Trading Volume: 70,413
Technical Sentiment Signal: Sell
Current Market Cap: A$18.91M
Learn more about SPN stock on TipRanks’ Stock Analysis page.