Toronto, Ontario--(Newsfile Corp. - December 2, 2022) - SPARQ Corp. (TSXV: SPRQ) (OTCQX: SPRQF) (the "Company" or "SPARQ") is pleased to announce that it will be exhibiting its latest QUAD microinverter products at Intersolar in Gandhinagar, India from December 7-9, 2022.
Praveen Jain, the Company's Chief Executive Officer, commented, "We are excited to walk the floors of one of the world's largest trade shows after a three year hiatus. We are looking forward to meeting with our customers and suppliers to show off our latest microinverter products specifically designed for the Indian market."
"In 2021, India experienced 265% year-on-year growth rate that has allowed the country to capture the 3rd spot globally in deploying solar power. This growth is expected to continue in order to achieve the 500 gigawatt target of non-fossil fuel electricity capacity by 2030, and the Government of India pledges to achieve net-zero carbon emission by 2070.1 India, therefore, represents an unparalleled opportunity for SPARQ," said Pankaj Jain, the Company's VP of Operations.
"India is seeing a very strong and rapid demand in PV electricity generation for residential, commercial, and solar water pump applications. Through the use of its patented hardware and software technology, SPARQ is able to provide high performance microinverter solutions at lower cost for the Indian market. Exhibiting our products at Intersolar in Gandhinagar will give over 10,000 potential attendees in the show to touch and feel the real products," commented Salil Gupta, the Company's Country Manager in India.
SPARQ's booth at Intersolar will be located in Hall 2 of the exhibition.
ABOUT INTERSOLAR
With events spanning four continents, Intersolar is the world's leading exhibition series for the solar industry and its partners. It unites people and companies from around the world with the aim of increasing the share of solar power in our energy supply. Since being founded, Intersolar has become the most important industry platform for manufacturers, suppliers, distributors, service providers and partners in the global solar industry. Connecting Solar Business - Intersolar Exhibitions and Conferences are held in Munich, San Diego, Mexico City, São Paulo, Mumbai, Bangalore, and Dubai. These global events are complemented by the Intersolar Summits, which take place in emerging and growing solar markets worldwide.
ABOUT SPARQ
SPARQ designs and manufactures next generation QUAD microinverters for residential, commercial and agriculture 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, those regarding the timing of the Intersolar exhibit and number of attendees, the growth rate of solar power deployment in India, the market opportunity in India, 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 filing statement dated December 23, 2021. 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 Corp.
Dr. Praveen Jain
Chief Executive Officer
Email: pjain@sparqsys.com
Tel: 343.477.1158
[1] 'Global Market Outlook For Solar Power 2022 - 2026', SolarPower Europe - Leading the Energy Transition Rond-Point Robert Schuman 2-4, 1040 Brussels, Belgium T +32 2 709 55 20 / F +32 2 725 32 50 info@solarpowereurope.org / www.solarpowereurope.org
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