|
ACCESSWIRE 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. |