TORONTO, ON / ACCESSWIRE / October 26, 2021 / Sparta Group (TSXV: SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital", "SAY.V" or "Sparta") is now positioned to offer monthly billing of its energy saving and power-conditioning technologies on customers' standard power bills; transforming large-scale purchases into operating expenditures verses capital expenditures. It's a move that expands the market of potential buyers of cleantech solutions and thus the adoption of the Company's various power-conditioning technologies through its Illumineris division ("Illumineris"). This comes at a time when the energy landscape is transitioning to sustainable (green) sources and there is an increased demand for cleaner electricity.
The payment capability is made possible through Illumineris' agreement with En-Powered Inc. ("Enpowered") allowing Illumineris to offer its advanced power quality expertise through a platform that not only reduces operating costs but can significantly reduce purchasing barriers by seamlessly charging for projects, products, and services directly on the customer's existing electricity bills as an operating expense.
"Our partnership with EnPowered will help us to unlock additional power conditioning, cleantech projects by enabling our customers to bundle energy efficiency projects with their existing electrical bill. This means they will now have the opportunity to move projects from a "Cap-Ex" [capital expenditure] to an Op-Ex [operating expenditure]. While our customers will still have access to our expanding suite of power monitoring, power conditioning, and engineering analysis technologies, the Enpowered Payments platform provides us a streamlined option to offer such projects on a pay-for-performance basis; enabling our customers with the option to fund such projects from savings, making them cash positive from day one," said Sparta President and Chief Technology Officer, John O'Bireck.
Energy analysts report that there are close to 4 thousand electric utilities and cooperatives in North America, and almost as many ways to bill for power. The billing platform helps Sparta's energy solutions stand out in a competitive market, and it gives customers a clear view of energy costs, as well as savings returned by their energy management investments, all in one place.
"Most of the people our sales team speak with are interested in energy efficient technologies, but even though they understand the impressive ROI, internally securing capital for energy upgrades can be very difficult. However, having this billing platform expands the market for potential buyers of our energy solutions. It gives the customer the option of structuring energy upgrades as operating expenses with the charges right there on the customer's existing power bills," said Dan Slade, Illumineris' Managing Director of Operations.
Sparta Group (a.k.a. Sparta Capital Ltd.) is a technology-based company that owns or holds a controlling interest in a network of independent businesses that supply energy saving technologies designed to reduce energy inefficiencies, achieve reduced emissions, and increase operating efficiencies in various industries. In response to the COVID-19 crisis, Sparta has also expanded its scope to help facilitate supply of necessary materials while assisting talented inventors who are looking to introduce innovative technical solutions that will bring greater normalcy to the post COVID-19 world. Sparta's network of independent businesses provides a wide range of specialized energy capturing, converting, optimizing, and related services to the commercial sector. Sparta provides capital, technical and engineering expertise, legal support, financial and accounting knowledge, strategic planning, and other shared services to its independent businesses. As Investors are increasingly applying non-financial factors to their analysis process (ESG), Sparta continues to strengthen its environmental and social path by adding new green products and services, as well as advanced health technologies for human good.
Sparta is a publicly traded company listed on the TSX Venture Exchange Inc. under the symbol "SAY" (TSXV:SAY). Additional information is available at www.spartagroup.ca or on SEDAR at www.sedar.com.
For more information contact:
John O'Bireck, President
Email: [email protected]
Telephone: (905) 751-8004
This above may contain "forward-looking information" within the meaning of applicable securities laws. When used in this address, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. Although the Corporation believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate that the expectations reflected in this forward-looking information are reasonable, readers are cautioned to not place undue reliance on forward-looking information because the Corporation can give no assurance that they will prove to be correct. Forward-looking statements are made based on management's beliefs, estimates and opinions on the date of publication of this information and the Corporation undertakes no obligation to update such forward-looking statements if these beliefs, estimates and opinions or other circumstances should change. Furthermore, the Corporation undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of the Corporation. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE: Sparta Group