SPARQ Systems Inc. announced the signing of a manufacturing and supply agreement with Jio Things Limited dated February 7, 2024, whereby the parties will collaborate to develop, manufacture and distribute microinverters in India, and incorporate Sparq's microinverters into Jio Things' solutions globally. The Agreement sets out a framework under which Sparq and Jio will collaborate to innovate and develop new products. Sparq will engage a third-party contract manufacturing base in India to manufacture its microinverters.

The Agreement provides for a long-term partnership leveraging each other's strengths to positively impact the industry, as well as certain volume commitments for the initial few years until the capacity volume is stabilized. The Agreement also provides Sparq with certain agreed product margins.