Sparc Hydrogen Clarification – Fortescue update will not impact Fortescue’s involvement in and ongoing commitment to the Sparc Hydrogen JV.
Sparc Technologies Limited (ASX: SPN) (Sparc) wishes to confirm its understanding that the organisational update at Fortescue Ltd (Fortescue) will not impact Fortescue’s involvement in and ongoing commitment to the Sparc Hydrogen joint venture (Sparc Technologies 52%, The University of Adelaide 28% and Fortescue 20%). Sparc Hydrogen is developing next generation green hydrogen technology using a process known as photocatalytic water splitting which requires only sunlight, water and a photocatalyst to produce green hydrogen, without electricity.
Mr. Nick O’Loughlin, Sparc Technologies Managing Director, commented:
Sparc enjoys a close working relationship with our joint venture partners in the Sparc Hydrogen joint venture which remains committed to driving Sparc Hydrogen’s next generation green hydrogen technology forward.
“Having communicated with a senior Fortescue representative we understand that the organisational update described in Fortescue’s ASX release will not impact Sparc Hydrogen and it will be business as usual.”
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Sparc Hydrogen Clarification – Fortescue update will not impact Fortescue’s involvement in and ongoing commitment to the Sparc Hydrogen JV.
