CALGARY, ALBERTA–(Marketwired – May 9, 2016) – Eguana Technologies Inc. (TSX VENTURE:EGT)(OTCQB:EGTYF) continues to deploy its AC Battery energy storage appliance and demonstrate its global capabilities and application diversity as the AC Battery is integrated into an expanding range of control technologies. Eguana announced today that it has begun shipments into solar applications in Australia, and for intermediate storage installed alongside both public and home EV charging stations.
“The adoption of the AC Battery into EV charging applications was just a matter of time” commented Justin Holland, Chief Executive Officer of Eguana. “EV charging is one of the fastest growing uses of electricity and aside from reducing the impact of charging on the power grid storage enables a much higher value to be extracted from the network infrastructure by enabling the delivery of grid services from these distributed energy assets.”
Itochu Corporation is leading Eguana’s Australian market entry through the sales and marketing agreement announced in November 2015. “Australia is currently the fastest growing energy storage market in the world and feedback on our product capability, form factor, and the LG Chem Lithium Battery has been excellent, addressing global markets was one of the key values in partnering with Itochu last fall” added Holland.
Eguana continues to focus internal efforts on broadening the product portfolio and growth in the US and European solar+storage segment while these recent moves into new markets and applications further diversify the company’s customer base and addressable market.
While the details of these partnerships remain confidential due to competitive concerns, further details will be announced as Eguana’s customers finalize their market launch plans.
About The AC Battery:
The Eguana AC Battery™ is a certified, grid ready power control solution pre-integrated with industry leading Li-Ion batteries. Our solution can be seamlessly integrated with a local energy management system or a distributed fleet control network using open communication protocols to provide a fully functional energy storage installation. The AC Battery provides maximum flexibility for system aggregators which want to deploy it as a standalone product, as part of new solar storage installations, or as a retrofit to solar PV installations already in place.
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.
Justin Holland
CEO, Eguana Technologies Inc.
+1.416.728.7635
Justin.Holland@EguanaTech.com
Product Inquiries
Vishwas Ganesan
Director of Business Development, USA
+1.408.685.2670
Vishwas.Ganesan@EguanaTech.com
www.EguanaTech.com