ArcTern Ventures leads $11 mln financing of SPARQ Systems
SPARQ Systems Inc, a designer of microinverters for solar power systems, has received $11 million in new funding. The deal was led by Canadian clean technology venture capital firm ArcTern Ventures, which also led SPARQ's $2.75 million financing in 2013. Proceeds of the latest round will help launch the company's uQuad technology, a residential microinverter that optimizes power from up to four solar modules. Founded in 2009, the Kingston, Ontario-based SPARQ has also been backed by MaRS Investment Accelerator Fund, Ontario Centres of Excellence and other investors. ArcTern's Tom Rand last month wrote about climate risk challenges in a peHUB Canada feature article.
21 October 2014•3 mins read
