Sparq Announces Entry into African Microinverter Market

Executive Summary

• Sparq Systems entered into a manufacturer’s authorization and supply agreement with Tumi Clean Technologies Ltd. to distribute and potentially assemble Sparq microinverters in Ghana and the broader sub‑Saharan African market.
• The agreement includes a six‑month pilot phase, after which Tumi may obtain exclusive distribution and/or assembly rights subject to meeting minimum order thresholds.
• Initial term is one year with an automatic 30‑day renewal period; parties may extend or renegotiate thereafter.

Key Details

• Parties: Sparq Systems Inc. (TSXV: SPRQ) and Tumi Clean Technologies Ltd., an importation/distribution partner of Sparq.
• Scope of Agreement:
• Tumi will purchase Sparq microinverters and related products for resale in Ghana, West Africa, and other sub‑Saharan markets.
• Potential exclusive distribution rights contingent on meeting agreed minimum order levels after a six‑month pilot.
• Non‑binding framework for an exclusive license to assemble Sparq products in Ghana, with intent to sell assembled units regionally.
• Pilot Phase: Six months to validate market readiness; performance metrics and order thresholds to be defined by the parties.
• Term: One (1) year initial term; automatically renews for an additional thirty (30) days unless terminated earlier. Parties may negotiate extensions or a new agreement thereafter.
• Strategic Rationale (CEO Quote): “This is a very positive step forward for the Company to bring its innovative products to the African market…”.
• Partner Commentary: Kwaku Osei‑Sarpong (CIPA Holdings Group) highlighted plans to leverage AfCFTA framework, scale distribution continent‑wide, and develop local assembly capacity.

Notable Quotes

• “This is a very positive step forward for the Company to bring its innovative products to the African market…” – Praveen Jain, CEO, Sparq Systems.
• “Through Tumi Clean Technologies, we aim to lead the distribution of advanced solar and inverter systems across Ghana and West Africa… powering Africa's sustainable future from within.” – Kwaku Osei‑Sarpong, Founder & CEO, CIPA Holdings Group.