CALGARY, Alberta and SILICON VALLEY, Calif., Aug. 17, 2020 (GLOBE NEWSWIRE) — Eguana (TSX.V: EGT) (OTCQB: EGTYF) and Highlight Solar are pleased to announce the companies have partnered to bring residential energy storage systems to homeowners in the San Jose and San Francisco Bay Area.
The Evolve Energy Storage system, available in both NMC and Cobalt free LFP lithium battery chemistries, allows new and existing residential solar owners to store excess solar power for use in the evening, maximizing their solar investment, while increasing energy security and independence. In the event of grid failure, the Evolve forms a microgrid allowing the solar PV system to continue power generation while managing home loads and advanced lithium batteries. Evolve is a cost-effective solution for California homeowners looking for to reduce their energy bill and increase their energy security from wildfires and grid failures all while helping the environment.Highlight Solar, an Eguana-certified partner, is scheduled to complete their first group of Evolve energy storage systems in August with installations continuing throughout the balance of 2020. Dean Alayleh, principal of Highlight Solar stated, “At Highlight Solar, we adapt to meet our customers’ diverse needs. Currently, with the utilities’ public safety power shutoffs for wildfire prevention, time of use (TOU) rates, and availability of SGIP incentives, we’ve had a tremendous demand for high-efficiency residential energy storage systems. Highlight Solar has an impeccable record for workmanship and customer service and support. We feel that Eguana offers that same level of performance and customer support and we are excited about the partnership.” The companies expect to bring over 1 MWh of energy storage systems to homeowners through the San Jose and San Francisco Bay area over the next 12 months.California, with over 800,000 residential solar PV installations, presents a significant opportunity for both the Eguana Evolve NMC and Evolve LFP products as AC Coupled energy storage solutions are designed to easily integrate with new and existing solar installations.“Highlight Solar is one of the most trusted solar brands in Northern California and we are delighted to be selected as their primary energy storage partner,” added Livio Filice, Director of Global Sales at Eguana. “Over the past year, Eguana has gained significant traction in the Southern California market where we have built an impressive solar dealer and wholesale partner network. With our additional California team members in place we are now addressing the Northern California market where homeowners will benefit from increased energy security and independence as well as reduced energy costs with either the Evolve NMC or LFP Storage systems.”Evolve – Home Energy Storage Systems
Evolve is a fully integrated residential energy storage system that includes the company’s proprietary power electronics system, LG Chem low-voltage battery modules, and a comprehensive user interface. The system is rated at 5 kW AC output with a modular battery design based on a 6.5 kWh battery, which is scalable from 13 to 39 kWh in storage capacity. The NEMA 3R wall-mounted package is suitable for indoor and outdoor installations. The package is backed by a 10-year standard warranty.Evolve supports grid-connected solar self-consumption, time of use (TOU) rate shifting, and backup power. It is now available in the United States and in Caribbean markets, with certification standards matching UL1741, California’s Rule 21, and Hawaii’s Rule 14H.Interested parties may contact:About Highlight Solar
Highlight Solar strives to educate the marketplace and supply the highest quality solar electric products available. We strive to stay on top of these technologies and their benefits in order to provide the most up-to-date information to potential consumers. Operating on integrity, we provide value added customer support enabling customers to feel confident with their purchasing decision.To learn more, visit www.HighLightSolar.com or follow on Facebook: www.facebook.com/HighlightSolarIncAbout Eguana Technologies Inc.
Based in Calgary, Alberta Canada, Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF) designs and manufactures high performance residential and commercial energy storage systems. Eguana has two decades of experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications, and delivers proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America.With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services and demand charge applications at the grid edge.To learn more, visit www.EguanaTech.com or follow us on Twitter @EguanaTechForward Looking InformationThe reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, we include: statements pertaining to the value of our power controls to the energy storage market and statements concerning the use of proceeds and the Company’s ability to obtain necessary approvals from the TSX Venture Exchange.Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Many factors could cause the Company’s actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. Readers are also directed to the Risk Factors section of the Company’s most recent audited Financial Statements which may be found on its website or at sedar.com. The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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