Sparc Technologies Ltd (AU:SPN) has released an update.
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Sparc Technologies Ltd has successfully raised A$2.25 million in a share placement with strong backing from new and existing investors, positioning the company to enhance its commercialization efforts for its ecosparc product and further invest in Sparc Hydrogen. The capital, raised at a notable discount, aims to fund field trials, research and development, and provide general working capital. Shareholders showed confidence in the company’s innovative technology portfolio, with directors also participating in the placement.
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