Sparc Hydrogen and the University of Adelaide have been awarded a $2.75 million grant from the Australian Government under the Economic Accelerator (AEA) Innovate program to support the development of a novel green hydrogen production technology.
The funding will go towards the operation of Sparc Hydrogen’s pilot plant at Roseworthy in South Australia, as well as further research, development, and commercialisation efforts.
The pilot plant will demonstrate Sparc’s patented photocatalytic water splitting (PWS) reactor technology, which has been in development since 2022, the company said in an ASX announcement.
Sparc Hydrogen is a joint venture between Sparc Technologies, Fortescue Ltd, and the University of Adelaide.
The company said the grant was awarded following a rigorous and competitive selection process, providing validation for the innovation and commercial potential of its hydrogen technology.
“We are delighted to see Sparc Hydrogen receive this significant grant from the Federal Government’s highly competitive AEA Innovate program to accelerate development of its novel green hydrogen production technology,” said Sparc Managing Director Nick O’Loughlin.
The AEA grant program is part of the government’s broader push to support the commercialisation of Australian research and technologies.
The $2.75 million grant will be distributed over a 24-month period and will be matched by existing financial and in-kind contributions from Sparc Hydrogen and its shareholders. No new shareholder funding will be required.
“This funding allows Sparc Hydrogen to do more with the existing Stage 2 shareholder funding committed by Sparc Technologies and Fortescue earlier this year,” O’Loughlin said.
“It also builds on Sparc’s track record of success under the AEA program and highlights our commitment to working with Australian universities to develop and commercialise novel technologies.”
This marks Sparc Hydrogen’s second grant under the AEA program, following a $470,511 Seed grant awarded in 2023.
