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SPARKPOWER GROUP INC SPARK POWER BUILDS MOMENTUM THROUGHOUT QUARTER ; OPTIMISTIC ABOUT SECOND HALF PERFORMANCE Second Quarter revenue grows 41.1 % Year over Year to $ 65.4 million Renewables segment continues strong revenue growth increasing 44.1 % in the second quarter and 35.8 % year to date ( Spark Power reports in Canadian dollars unless otherwise specified ) - OAKVILLE , ONTARIO - August 16 , 2021 - Spark Power Group Inc. ( TSX : SPG ) , parent company of Spark Power Corp. ( " Spark Power " or the " Company " ) , has announced its financial results for its second quarter , the three - and- six months period ended June 30 , 2021. All amounts are in Canadian dollars unless otherwise specified . " As COVID - 19 restrictions continue to lift across North America , we are seeing signs of a steady return to pre - pandemic levels of operations and positive trends in margins in key parts of the business , " said Richard Jackson , President & CEO of Spark Power . " Spark is continuing to gain momentum , particularly within our Renewables division , along with our branches in Western Canada and the U.S. , and as we move into the latter half of the year , we expect to see continued organizational growth , " said Jackson . Spark recently welcomed two new high - calibre members to its Senior Leadership Team who will help to guide the organization . " The addition of Tom Duncan as our Executive Vice President , Technical Services - Canada , as well as Richard Perri as our Senior Vice President , Finance , will bring Spark one step closer to achieving our organizational objectives and fulfilling the Operational Excellence initiative ; a key component of our Strategic Imperatives strategy , " added Jackson . In May , Spark was pleased to announce a $ 5.3 million grant from the Government of Ontario's Skills Development Fund to support new employee training and advancement initiatives . “ This funding will help Spark continue to attract , train and retain the highest quality field team members while ensuring we remain a leader in health and safety and service quality , " said Jackson . The Company is poised for a strong second half of 2021 . " With amendments to our credit agreement negotiated in June 2021 that expanded amounts available under our operating credit facility by $ 5.0 million , coupled with the proceeds from our Private Placement of $ 5.6 million the company significantly strengthened its liquidity position , ” said Dan Ardila , Executive Vice President & Chief Financial Officer . " This significantly strengthened balance sheet provides the right platform for a strong second half . With record backlog levels , margins showing signs of improving in key business segments , and steady SG & A levels , we are optimistic about the remainder of the year and beyond , " he added . During this quarter , Spark re - launched the Strategic Review process originally announced in 2020 , seeking opportunities to bring new capital into the business to support the execution of its growth strategy . Led by a Special Committee made up of independent Board members , Spark also announced the intention of its founders to sell their interests in the business . " We are very happy with the progress being made by our investment banking partners , KeyBanc Capital Markets , " said Co - Founder & Executive Board Chair , Jason Sparaga . " Based on the significant interest shown in the opportunity and strong capital markets , we remain highly confident that we will find the right partner for Rich and his team in the coming months , " he added . Financial Highlights • The impact of the pandemic in Q2 2020 , including lost revenue and government subsidies accounts for the majority of differences in quarter - on - quarter comparison .