CALGARY, AB / ACCESSWIRE / September 1, 2020 / Sparta Group (TSXV: SAY) (the "Corporation" the "Company", "Sparta Group", "Sparta Capital" or "Sparta") has entered into an agreement with Encompass Power Solutions Corp ("Encompass") to distribute the entire line of Encompass products and services, as well as develop correlative technology.
The Canadian owned and operated Encompass Power Solutions includes, power monitoring, power conditioning, and engineering analysis technologies. Sparta's agreement with the power quality experts will include a comprehensive metering system. The suite of Encompass technologies will add to the existing technologies offered through the Sparta Group's Illumineris division - all part of the ongoing mission to capture and monetize customer's greenhouse gas emissions. The distribution agreement will take effect immediately. Meanwhile, the two companies will be involved in the development of an integrated platform to embed the Encompass monitoring system into the previously announced Sensor Suite dashboard and will be further collaborating on the development of Sparta's waste-plastic to electricity conversion program.
Commercial and industrial energy intensity has grown tremendously. Sparta management believe taking a deep dive into a building's primary energy-use is the best way to help with energy cost saving measures while at the same time, giving the owners of the building the ability to demonstrate to the world that they've lowered their carbon footprint.
"Not only should we be concerned about waste materials that end up in our landfills, atmosphere, and waterways, we also need to be concerned with waste energy. By integrating quality monitoring and conditioning technologies, we can offer our clients an even stronger energy optimization package that diverts wasted energy from our environment and into our customers' pocketbooks. It's really all about helping commercial and industrial operations remain competitive with operational savings and GHG reductions," said Sparta President and CTO John O'Bireck. He went on to praise Encompass Power for its strong suite of power solutions calling them, "premium."
"We are pleased and proud to be working closely with Sparta. Their vision to convert waste into something of value is refreshing, to say the least. Being technology based, we see how inefficiencies can have a real impact on our environment, let alone to our customers' bottom line," said Dan Slade, President and CEO of Encompass Power Solutions Corp.
The Canadian Energy think-tank, Pembina Institute promotes energy optimization for three key reasons. They say it "stimulates the economy", puts "money in your pocket" and leads to a "healthy you". Sparta subscribes to this reasoning but goes a step further by emphasizing the savings - anywhere from 20-70% on a building's power bills.
Encompass Power Solutions is a privately held company that is a pioneer in the industry of power quality. They offer an integrated range of power monitoring, power quality analysis, low and medium voltage power correction solutions and services. Their products and solutions give peace of mind, lower cost of ownership, reduce production losses and wastage, all making an impact to lowering the overall energy footprint of the Client.
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.
Sparta is a publicly traded company listed on the TSX Venture Exchange under the symbol "SAY". Additional information is available on our website at www.spartagroup.ca or on SEDAR at www.sedar.com.
For more information contact:
John O'Bireck, President & CTO
Email: [email protected]
Telephone: (905) 751-8004
This news release contains "forward-looking information" within the meaning of applicable securities laws. When used in this news release, 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 news release 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. In particular, this news release contains forward-looking statements relating to, among other things, statements pertaining to the agreement and relationship between Illumineris and Sensor Suite, including but not limited to development of the integrated platform, and actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to, the failure to obtain necessary regulatory approvals, necessary financing and risks associated with the environmental technologies industry in general. All forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
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SOURCE: Sparta Capital Ltd.