San Francisco and Toronto, Oct. 20, 2014 – SPARQ Systems today announced $11 million in funding led by ArcTern Ventures, a Toronto-based cleantech venture capital firm, and Jones, Gable, and Co., a full service investment dealer based in Toronto. SPARQ Systems’ technology converts power produced from solar panels into electricity that can be used by the grid. “This funding will launch our next generation uQuad microinverter, resetting the bar for residential solar systems,” said Dr. Praveen Jain, Chairman and Chief Technology Officer of SPARQ and Canadian federal research chair in power electronics. “We saw an opportunity to take a completely different approach in microinverter design using ideas from the power electronics, aerospace, and telecom fields. The result is the next generation in microinverters.”
SPARQ System’s uQuad is the world’s first 4-in-1, 1,000-Watt residential microinverter that independently optimizes power from up to four solar modules. The uQuad is also the first commercially available ‘smart’ microinverter, with full reactive power control as well as film capacitors to ensure it lasts as long as the solar modules – 25 years or more.
“We spend a lot of time looking at groundbreaking solar technologies and in SPARQ we saw a truly unique advantage over traditional microinverters,” said Murray McCaig, Managing Partner at ArcTern Ventures. “The SPARQ team has done a superb job of translating innovative technology into a better product for solar system installers and home owners.”