Sparc Technologies (ASX:SPN) is teaming up with Santos (ASX:STO) to trial its anti-corrosion coating on assets in South Australia, pushing shares up 3% in morning trades.
The company is trialling its registered ‘ecosparc’ product, a graphene-based additive which ultimately seeks to boost the time maritime assets can be used.
This, Sparc advertises on its website, is enough to reduce maintenance CapEx by up to 23% – and also, the company claims, ultimately represents an 18% to 21% loss in carbon emissions.
This is questionable, depending on how you measure it. Those reduced emissions are assumed, and relate to the emissions which would be produced by maintenance activities – taking out a tug to collect affected parts and haul them back to shore then back out again, for example.
If that feels like a funny way to market an ‘eco’ product, well, this finance journalist has seen stranger.
At any rate, it clearly suits Santos. Its gas processing plant at Plant Bonython is already, according to the oil and gas major’s website, co-powered by solar.
“This solar installation at Port Bonython is our biggest demonstration yet of how we can work with renewables to not only reduce our carbon emissions but to also free up more gas for the domestic markets,” Santos chief Gallagher said at the time.
A long sea jetty is located at Port Bonython, giving plenty of surfaces on which to test ecosparc.
“Sparc is very pleased to be working with Santos, one of Australia’s leading energy companies, to complete field trials of an ecosparc enhanced coating at Port Bonython in South Australia,” SPN MD Nick O’Loughlin said.
SPN last traded at 17.5cps.
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