Eguana Technologies Inc.
TSX VENTURE : EGT
OTC PINK : STGYF

Eguana Technologies Inc.

January 29, 2016 09:23 ET

Eguana Announces 2015 Annual Results and Provides Update

CALGARY, ALBERTA--(Marketwired - Jan. 29, 2016) - Eguana Technologies Inc. (TSX VENTURE:EGT)(OTC PINK:STGYF) today announced results for its fiscal year ended September 30, 2015 along with an update and guidance for 2016.

Highlights

  • Revenues for fiscal 2015 totaled $6,007,008, up from $2,284,764 in 2014
  • LG Chem contract and integration completed for tier one battery supply
  • Successful product launch of game changing AC Battery
  • Marketing agreement with Japanese trading company Itochu to expand global reach
  • $250k funding award from AI-EES toward commercial AC Battery development
  • Europe volume recovery on plan, demonstration units shipped to multiple customers

Outlook for 2016

  • Accelerated growth in the Hawaiian market driven by regulatory changes to net metering policies and high electricity costs
  • Continued channel development for US market
  • Volume recovery in Europe driven through multiple channels
  • Japan entry through Itochu relationship for small commercial market

Eguana remains well positioned to benefit from the growth in the distributed energy generation markets in the US, Europe, and Japan. Our expectation is to see continued year over year revenue growth. Bi-Direx, recognized across the industry as a leader in its power class, is one of the only power control systems standardized and certified for multiple growth markets. "During the year we made the decision to broaden our customer base, expand our reach, and introduce new product applications to the market. We have successfully achieved these targets," said Eguana CEO Justin Holland. "We have a leadership position in Hawaii with a utility approved product and supply agreement with leading storage company E-Gear LLC, we have integrated and UL certified a product with Primus Power, and we have shipped demonstration units back into the European market with the expectation of multiple product launches this year," Holland added.

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.

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.

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