Welcome to our dedicated page for SPARQ Systems news (Ticker: SPRQF), a resource for investors and traders seeking the latest updates and insights on SPARQ Systems stock.
Sparq Systems Inc. (SPRQF) generates news that reflects its role in solar power electronics, microinverter manufacturing and international market development. Company releases describe Sparq as a designer and manufacturer of next generation single-phase microinverters for residential and commercial solar electric applications, with a proprietary Quad microinverter that optimizes four PV modules with a single device.
News coverage for Sparq often focuses on product development and technology milestones
Investors and observers can also find corporate and market expansion news in Sparq’s releases. The company has reported the commencement of commercial production of its microinverters in India through a contract manufacturer, as well as an agreement to supply microinverters and related products for distribution in Ghana and potentially other sub‑Saharan African markets. Additional news items include investor relations arrangements, equity-based compensation grants and regulatory communications regarding trading activity.
Another recurring theme in Sparq’s news is recognition of technical leadership. The company has announced honours for its executives, including an Order of Canada appointment for its Chief Executive Officer and an IEEE Fellowship for its Chief Technology Officer, both related to contributions in electrical energy processing and high-frequency power conversion. Readers who follow Sparq’s news can track these product, market and leadership developments over time.
SPARQ Systems (TSXV: SPRQ) (OTCQB: SPRQF) has issued a statement in response to recent unusual market activity. The Company's management has confirmed, at the request of the Canadian Investment Regulatory Organization, that they are unaware of any material changes in their operations that could explain the recent increase in market activity.
SPARQ Systems (TSXV: SPRQ) (OTCQB: SPRQF) has announced a market-making agreement with Integral Wealth Securities . The agreement, dated December 20, 2024, aims to maintain reasonable market conditions and enhance the liquidity of SPARQ's common shares. The initial term is three months with automatic one-month renewals unless terminated with 30 days' notice. SPARQ will pay Integral a monthly fee of C$7,500 plus HST. The agreement contains no performance factors or security-based compensation, and Integral will cover its own costs for trading SPARQ shares.
SPARQ Systems Inc. (TSXV: SPRQ) (OTCQB: SPRQF) has appointed Magomet Malsagov to its board of directors. Mr. Malsagov brings over 20 years of experience in the food and beverage and IT sectors. He founded PureCircle , a global leader in high-purity stevia ingredients, which generated over $1 billion in sales during its first decade and was later acquired by Ingredion Inc. Mr. Malsagov also founded AVATAi Sdn Bhd, a 3D reconstruction AI company.
As part of his appointment, Mr. Malsagov has been granted options to purchase up to 200,000 common shares of the Company. These options are exercisable for five years at an exercise price of $0.69 per share or the Market Price on the date the blackout period for Q3 2024 financials expires, whichever is greater.
SPARQ Systems Inc. (TSXV: SPRQ) (OTCQB: SPRQF) has received a purchase order for 10,000 Q2000 Quad Microinverters for the Indian market on August 27, 2024. This order is in addition to a previous order for 6,000 units announced in June 2024. The new order represents an additional 20 MW worth of microinverters.
Dr. Praveen Jain, CEO of SPARQ, stated that this order further validates the company's innovative microinverters in the growing Indian PV market. The increased demand for SPARQ's products suggests a positive trend in the company's market penetration and potential for growth in the solar energy sector.
SPARQ Systems has appointed Dr. Majid Pahlevani as its new Chief Technology Officer. Dr. Pahlevani, previously VP of Technology at SPARQ, has a prolific background in power circuitry and digital control techniques for SPARQ's QUAD micro-inverter. He has also led significant projects in renewable energy, energy storage, and electric vehicles, and holds over 70 U.S. patents. Additionally, SPARQ announced stock option grants to purchase 3,164,702 common shares at $0.41 each to certain directors and officers. These options have a five-year term and vest immediately, subject to TSX Venture Exchange and securities law conditions.
SPARQ Systems has announced the receipt of substantial purchase orders on June 26, 2024, totaling 12 MW for over six-thousand Q2000 Quad Microinverters targeted at the Indian market. This marks a significant entry into the Indian photovoltaic (PV) market for the company. The news underscores SPARQ's expanding market reach and potential for growth within the renewable energy sector, as highlighted by CEO Dr. Praveen Jain.
SPARQ Systems has finalized its shares for debt settlement process, issuing 1,775,639 common shares at $0.40 per share to settle $710,256 in outstanding unsecured loans. These shares are under a four month and one day hold period.
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