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Why are Sparc Technologies (ASX:SPN) shares trading ~11% higher today?

  • January 14, 2021 01:27 PM AEDT
  • Kunal Sawhney
    CEO Kunal Sawhney
    2314 Posts

    Kunal Sawhney is founder & CEO at Kalkine and is a richly experienced and accomplished financial professional with a wealth of knowledge in the Australian Equities Market. Kunal obtained a Master of Business Administration degree from University of T...

Why are Sparc Technologies (ASX:SPN) shares trading ~11% higher today?

Summary

  • Sparc Technologies has published the results from its ongoing coatings test work with the University of Adelaide which showed significant performance improvement in graphene-based coatings.
  • Compared to the control coating, the results showed 73% performance improvement in scribe creep and 19% improvement in adhesion.
  • Based on the test data, SPN would build on it and improve the optimum graphene formulation for the coatings additive for performance maximisation.
Gold MTF non-AMP

Sparc Technologies Limited (ASX:SPN) today announced positive results from its ongoing coatings test work conducted in partnership with the University of Adelaide. Through the favourable results, the Company delivered another breakthrough in developing various graphene-based additives for use in Marine and Protective Coating.

Following the announcement, SPN shares surged on the ASX and were trading 11.290% higher at A$0.345 (At AEDT 01:09 PM).

Based out of South Australia, Sparc Technologies Limited is engaged in the business of developing innovative technology solutions utilising unique features of graphene. For information, graphene is derived from graphite and is a 2D nanomaterial made of carbon atoms arranged in a hexagonal pattern.

The Company has approved graphene-based technologies from the University of Adelaide to concentrate on commercialising graphene-based technologies that can be used for marine and shielding coverings, environmental remedy, and biomedical usage.

About Sparc’s coating test work

In the test using ISO testing methodology, Sparc evaluated the performance of several graphene-based additives produced with the help of a variety of raw material sources, processing techniques, and graphene quantities. The test addressed adhesion along with scribe corrosion creep.

Compared to a control coating, the results showed a 73% improvement in scribe creep performance and 19% improvement in adhesion.

The image below represents scribe corrosion creep performance. The lower the value, the better is the performance.

Another chart provided the Company illustrates adhesion performance. Higher numbers indicate improved performance.

The Company intends to build on the positive test data and advance the optimum graphene formulation for the coatings additive to enhance the performance.

The confirmation with the ISO standards will help SPN target its broad customer base to evaluate the outcomes factually.

 

 


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