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SPARQ Enters into Sales and Distribution Agreement with Rolaz Green Energy
Toronto, Ontario--(Newsfile Corp. - March 27, 2023) - SPARQ Systems Inc. (TSXV: SPRQ) (OTCQX: SPR...
About this update from Sparq Systems Inc
[{"type":"text","content":"SPARQ Enters into Sales and Distribution Agreement with Rolaz Green EnergyToronto, Ontario--(Newsfile Corp. - March 27, 2023) - SPARQ Systems Inc. (TSXV: SPRQ) (OTCQX: SPRQF) (formerly, SPARQ Corp.) (the \"Company\" or \"SPARQ\") is pleased to announce that it has entered into a sales and distribution agreement dated March 24, 2023 (the \"Distribution Agreement\") with Rolaz Green Energy PVT. Ltd (\"Rolaz\"), a company based in India.Under the Distribution Agreement, SPARQ has appointed Rolaz as its non-exclusive importer, vendor and distributor within the territory of India of all models of SPARQ's microinverters and its interface Sparq Linq as well as any newly developed products of SPARQ. The Distribution Agreement provides that, unless terminated earlier pursuant to its terms, the term of the agreement is one year and shall automatically renew for additional six month periods. Praveen Jain, Chief Executive Officer of SPARQ, commented: \"This partnership is a key milestone for SPARQ. With the manufacturing of our products ramping up, we are delighted to have this important relationship with Rolaz to sell and deliver them to the large Indian market.\"Jyoti Gupta, Director of Rolaz, commented: \"We are proud to partner with SPARQ to bring their innovative microinverters to the Indian market. We look forward to a successful partnership that drives growth and success for both companies.\"ABOUT SPARQSPARQ 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 NoteCertain 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 Distribution Agreement and any statements preceded by, followed by or that include the words \"believe\", \"expect\", \"aim\", \"intend\", \"plan\", \"continue\", \"will\", \"may\", \"would\", \"anticipate\", \"es...