Sparc Technologies, which recently announced successful initial inspection results for its ecosparc-enhanced anti-corrosion coating in a field trial at Streaky Bay Jetty, South Australia, has announced firm commitments to raise AUD$2.2 million (around US$1,408,000) through a share placement, with a further share purchase plan expected to raise another AUD$500,000.
In a statement, Sparc said the placement was “strongly supported by existing and new investors”. The funding will support commercialization of the company’s ecosparc coating product, support for its Sparc Hydrogen joint venture, ongoing R&D and general working capital.
Sparc Technologies, which recently announced successful initial inspection results for its ecosparc-enhanced anti-corrosion coating in a field trial at Streaky Bay Jetty, South Australia, has announced firm commitments to raise AUD$2.2 million (around US$1,408,000) through a share placement, with a further share purchase plan expected to raise another AUD$500,000.In a statement, Sparc said the placement was “strongly supported by existing and new investors”. The funding will support commercialization of the company’s ecosparc coating product, support for its Sparc Hydrogen joint venture, ongoing R&D and general working capital.
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