Intellabridge Provides Strategic Update and Transition to Spark Plug Partnership

Executive Summary

• Intellabridge Technology Corp. announced a strategic realignment, converting a previously signed Letter of Intent with Spark Plug Chargers Inc. into a collaborative partnership model.
• The company concluded that a partnership, rather than an acquisition, better aligns with its Sustainable Development Goals and leverages Spark Plug’s hardware expertise alongside Intellabridge’s software and impact technologies.
• Management highlighted the extensive market review and due‑diligence process that informed this decision and indicated plans to deploy “Impact‑as‑a‑Service” solutions across the broader EV infrastructure ecosystem.

Key Details

• The prior LOI between Intellabridge and Spark Plug Chargers Inc. is terminated in favor of a strategic partnership.
• The partnership will enable both parties to pursue independent growth while maintaining a synergistic relationship for future collaboration.
• Six‑month market review and due‑diligence identified greater value creation through convergence of intelligent sustainable infrastructure and Intellabridge’s proprietary impact technologies.
• Management believes the partnership model offers stronger alignment with the company’s core Sustainable Development Goals (SDGs).
• No financial terms, equity exchanges, or cash considerations were disclosed.
• CEO John Eagleton emphasized that the due‑diligence phase “allowed us to rigorously test our assumptions and identify our core competitive advantages.”

Notable Quotes

“We appreciate the cooperation and transparency of the Spark Plug team throughout this process,” said John Eagleton, CEO. “The due diligence phase was time well spent… We believe that transitioning to a partnership model will allow us to unlock greater synergies than a traditional acquisition.”