SPARQ Introduces Unique Integrated PV and Battery Quad Microinverter
Rhea-AI Summary
Sparq Systems (TSXV: SPRQ) (OTCQB: SPRQF) has developed a new integrated PV and battery Quad microinverter with energy storage capability for residential and commercial applications. The revolutionary product offers versatile compatibility with existing technologies, functioning in on-grid, off-grid settings, and supporting various battery types including Lithium-Ion and Lead Acid.
The product is being showcased at the 2025 India Energy Week in New Delhi. This launch aligns with the Indian government's 2024 initiative to support affordable solar energy rollout to 10 million Indian households, positioning Sparq to address this significant market opportunity in the Indian solar energy sector.
Positive
- Development of innovative Quad microinverter with integrated battery storage capability
- Product alignment with India's major solar energy initiative targeting 10 million households
- Versatile compatibility with multiple grid configurations and battery types
Negative
- None.
Toronto, Ontario--(Newsfile Corp. - February 13, 2025) - Sparq Systems Inc. (TSXV: SPRQ) (OTCQB: SPRQF) (FSE: M26) ("Sparq" or the "Company") is pleased to announce that it has developed a unique integrated PV and battery Quad microinverter with energy storage capability for residential and commercial applications.
This revolutionary product is versatile and compatible with existing technologies, capable of working on-grid, off-grid, and with any types of battery technology, such as Lithium-Ion and Lead Acid, among others. Incorporating energy storage into the Quad microinverter is instrumental towards creating resilient solar energy harvesting systems, fully eliminating the dependency on the utility grid. The newly developed Quad microinverter is being introduced at the 2025 India Energy Week being held this week in New Delhi, India.
Ravi Sood, Chairman of the Company, commented: "In 2024, the Indian government approved a scheme to support the rapid rollout of affordable solar energy to 10 million Indian households. This has been billed by the Government of India as one of the largest such schemes in the world. Our product is well positioned to address this market opportunity and the continued expansion of affordable solar energy in the Indian marketplace."
ABOUT SPARQ
Sparq designs and manufactures next generation single-phase microinverters for residential and commercial solar electric applications. Sparq has developed a proprietary PV solution called the Quad; the Quad inverter optimizes four PV modules with a single microinverter, simplifying design and installation, and lowering cost for solar power installations when compared to existing market offerings. Sparq's head office is located at 945 Princess Street, Kingston, Ontario, K7L 0E9.
Cautionary Note
Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, the introduction of the new Quad, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements.
Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company's management's discussion and analysis for the financial year ended December 31, 2023. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.
Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
For more information, please contact:
Sparq Systems Inc.
Dr. Praveen Jain
Chief Executive Officer
Email: pjain@sparqsys.com
Tel: 343.477.1158
63434842.5
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/240833
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