CALGARY, ALBERTA–(Marketwired – June 13, 2016) – Eguana Technologies Inc. (TSX VENTURE:EGT)(OTCQB:EGTYF) is pleased to announce that it has delivered first units of the power control solution (PCS) developed for its German automotive customer. The units have passed all functional testing detailed in the specification of the previously announced development contract entered in to in March 2016:
Eguana Executes Development Contract With German Automotive Subsidiary
The completed PCS is on schedule for certification and on target for general availability through our partner in late 2016. Volume order negotiations have begun and the Company expects orders to begin shipping in the fall.
“With a general product availability target within 2016 the development teams were under significant pressure to deliver a custom product in less than 90 days,” commented Justin Holland, CEO of Eguana. “Through a very tight collaboration this goal was achieved, functional testing was a success and the product will now be certified through the regulatory process and available this calendar year.”
The identity of the battery manufacturer cannot be released at this time in order to maintain customer confidentiality and for strategic reasons.
About Eguana Technologies Inc.
Eguana Technologies Inc. (TSX VENTURE:EGT)(OTCQB:EGTYF) designs and manufactures high performance power controls for residential and commercial energy storage systems. Eguana has more than 15 years’ 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 the leading supplier 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 @EguanaTech
Forward Looking Information
The 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.
Eguana Technologies Inc.
Justin Holland
CEO
+1.416.728.7635
[email protected]
Business Development Inquiries
Eguana Technologies Inc.
Martin Duerr
Director, Business Development
+1.416.318.6675
[email protected]
