CALGARY, ALBERTA--(Marketwired - Jan. 26, 2017) - Eguana Technologies Inc. (TSX VENTURE:EGT)(OTCQB:EGTYF), a technology leader in power conversion and control systems for distributed energy storage, and Bosch, a leading global supplier of technology and services, have announced their collaboration on the Home Battery System (HBS) project. The Home Battery system and a summary of results to date will be on display at DistribuTECH in San Diego, CA from January 31 - February 2, 2017 at ESCRYPT's booth #2351.
This project demonstrates reduction of peak loads in the home using a utility-controlled storage system to lower demand from the utility and reduce the burden on the grid. The project is being completed in co-operation with the Bonneville Power Authority (BPA) and the National Renewable Energy Laboratory (NREL). The system is currently being validated under the supervision of NREL at its Energy Systems Integration Facility in Golden, CO. Cybersecurity is a critical element of the Home Battery System. With the guidance and support of the cybersecurity experts at ESCRYPT, the Home Battery System employs Federal Energy Regulatory Commission (FERC) Critical Infrastructure Protection (CIP) standards to ensure a compliant stack.
"We chose the Eguana AC Battery for this project due to the ease of integration with the Home Battery System and the ability to scale the amount of energy storage," said Scott Averitt, technical expert - advanced R&D projects, Robert Bosch North America. "These factors allow us to validate various scenarios regarding available on-demand power and on-site storage capacity."
Added Brent Harris, CTO of Eguana Technologies, "It is a great honor to have our product provide the energy storage solution for such an important project. We look forward to demonstrating the Home Battery System to industry."
Eguana Technologies along with its partners are committed to serving the residential and commercial energy storage market. Distributed residential storage that can be aggregated through demand response by the utility has the potential to significantly increase the penetration of distributed renewable energy. This is not only beneficial for consumers but also improves reliability and efficiency of power generation and distribution. Peak load reduction provides a direct financial benefit for utilities by avoiding or deferring the cost of constructing new power plants.
Having established a regional presence in 1906 in North America, the Bosch Group employs some 31,000 associates in more than 100 locations, as of December 31, 2015. In 2015, Bosch generated consolidated sales of $14 billion in the U.S., Canada and Mexico. For more information, visit www.boschusa.com, www.bosch.com.mx and www.bosch.ca.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 375,000 associates worldwide (as of December 31, 2015). The company generated sales of $78.3 billion (70.6 billion euros) in 2015. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch's global manufacturing and sales network covers some 150 countries. The basis for the company's future growth is its innovative strength. Bosch employs 55,800 associates in research and development at roughly 118 locations across the globe. The Bosch Group's strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is "Invented for life."
Additional information is available online at www.bosch.com, www.bosch-press.com and www.twitter.com/BoschPresse.
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About Eguana Technologies Inc.
Eguana Technologies Inc. (TSX VENTURE:EGT) 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, https://twitter.com/EguanaTech.
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