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Sparc Technologies surged 15% on a new ‘ultra-green’ hydrogen technology partnership with the University of Adelaide.

ASX closed green; Sparc Technologies rose 15% on new hydrogen deal; Woolworths dipped on Q1 results.

The ASX200 closed 0.07% higher at 7448.70 on Wednesday.

Sparc Technologies surged 15% on a new ‘ultra-green’ hydrogen project.

Woolworths shares dipped following the release of Q1 FY22 results.

The Australian market managed a 5.30 point gain on Wednesday to close the session at 7448.70 despite increased market volatility on the back of third-quarter inflation data. Health care and communication services stocks led gains on the key index today.

The tech sector rallied in afternoon trade to close the session almost 0.5% higher as gains for Computershare, Link Administration Holdings and Megaport offset Codan’s more than 18% nosedive.

Bitcoin is trading 2.36% lower over the last 24-hours at US$60,940.17 at 4:45pm AEDT.

Innovative graphene-based technology solutions company Sparc Technologies surged 15% today after announcing a partnership with the University of Adelaide to develop ‘ultra-green’ hydrogen technology. Under the deal, Sparc Technologies and the University of Adelaide will ‘progress a project that will deliver a unique process with the aim of producing commercially viable, ultra-green hydrogen’.

Making headlines, Woolworths shares took a hit today after the supermarket giant released first quarter results for the quarter the company deemed as ‘the most challenging during COVID’. For the period, Woolworths reported group sales from continuing operations of $16.07bn, up 7.8% YoY, group ecommerce sales of $1.879bn, up 53.5% YoY but a decrease of 17.5% in Big W sales to $920m for the period.

And Miso Robotics has launched a new robot called ‘Flippy Wings’ for use in Buffalo Wild Wings restaurants in the US, using AI to identify pieces of food like chicken wings and drop them into the deep fryer for cooking.

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