Eguana Receives $1.8M in New Orders, Hawaiian Market Continues to Accelerate

CALGARY, Alberta, Oct. 29, 2019 (GLOBE NEWSWIRE) — Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) is pleased to announce the receipt of $1.8 million in new orders in addition to the $1.1 million announced in September as the Hawaiian market continues to grow. New orders are expected to ship over the next 8-10 weeks.

“We have our installation crews running at near maximum capacity right now and our installation planning dates have been extended into the February/March timeframe” commented Chris Debone, Hawaii Energy Connection Managing Partner.

“This is the earliest we have booked sales into the new calendar year” added Steve Godmere, Managing Partner of HEC, “we are not anticipating the typical level of seasonal slowdown in January and expect these strong installation rates to continue into 2020.”

“We continue to see positive growth from the Hawaii market where HEC remains securely planted as a market leader and innovator” commented Eguana CEO Justin Holland. “EGear’s proprietary control technology has been fully integrated with the Evolve platform for many years allowing Hawaii consumers to install these solar + storage solutions into any of Hawaii’s seven tariff markets.”

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 5KW AC output with a modular battery design based on a 6.5 kWh battery, which is scalable from 13 to 39kWh 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.

The Evolve supports grid-connected solar self-consumption, time of use, 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.

About 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 @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.