On October 28, 2022, Spark Power Group Inc. (TSX: SPG) has declared that its subsidiary, Spark Power Solutions Inc., will sell its Bullfrog Power Inc. business unit, including its U.S. operations under Bullfrog Solutions USA Inc. and associated subsidiaries, to an undisclosed buyer. The transaction is valued at up to $35.0 million, including adjustments and an earnout of up to $3.5 million over five years. The proceeds will be directed towards reducing Spark Power's debt and meeting working capital needs, aligning with the company's strategic refocus on its primary business. While Spark Power is parting with Bullfrog, it recognizes the robust market demand for sustainability services. Post-transaction, collaboration opportunities between the two companies are anticipated, leveraging Spark Power's expertise in renewable electrical assets. Richard Jackson, CEO of Spark Power, stated that despite Bullfrog's growth under Spark Power, it comprises only a small portion of their current revenue. As Spark Power advances its strategic growth, Bullfrog isn't central to their technical and renewables focus. The company believes this sale is timely and advantageous. The deal is set to close around November 15, 2022, contingent on the buyer securing financing and receiving necessary approvals. While Spark Power expects a smooth transaction by the aforementioned date, completion isn't guaranteed. The transaction's closing is also contingent on the approval of Spark Power’s lender, which isn't anticipated to face delays.