CALGARY, ALBERTA--(Marketwired - Jan. 18, 2017) - Eguana Technologies Inc. (TSX VENTURE:EGT)(OTCQB:EGTYF) announced today that it has expanded its energy storage partnership with LG Chem. Development has begun to optimize integration and delivery of LG Chem's new industry-leading JH3 battery cell technology for stationary storage systems as part of Eguana's AC Battery portfolio.
Since the product was first announced, the US Residential AC Battery, based on LG Chem's JH2 cell technology, has been certified to meet US national standards and passed rigorous internal testing at both Eguana and LG Chem. Deployments in the Hawaii and California markets have taken place in both homeowner and utility applications.
"This is a natural, yet very exciting next step for our partnership," said Brent Harris, CTO at Eguana Technologies. "The new JH3 battery technology that won the ees award in June 2016, against a field of global competitors, provides the path for best in class fully integrated energy storage solutions. High capacity cells are the key to lower costs and increased performance and growth in the EV and stationary storage markets."
"Our engineering team has evaluated Eguana's integration of our lithium batteries into their AC Battery product and we have been very impressed by the reliability and the performance of their solution," said Peter Gibson, US Sales Director of LG Chem. "We look forward to seeing the results of the next generation systems in 2017."
Eguana will also expand its AC Battery product line to introduce a 15kVA/37kWh commercial energy storage product based on the JH3 cell in the same standalone module format in the second quarter 2017.
About The AC Battery:
The Eguana AC Battery™ is a certified, grid ready power control solution pre-integrated with LG Chem 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 LG Chem
LG Chem Ltd. is one of the world's largest lithium-ion battery manufacturers with significant market share in consumer, automotive and stationary applications. The LG Chem Energy Solution division engineers and delivers energy storage systems for utility, C&I and residential applications. LG Chem Ltd. is a globally diversified chemical company that operates three main business units: Petrochemicals, IT & Electronic Materials, and Energy Solution. The company manufactures a wide range of products, from petrochemical goods to high-value added plastics, and extends its chemical expertise into high-tech areas such as electronic materials and rechargeable batteries. For more information, please visit www.lgchem.com www.lgesspartner.com
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 @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.
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