Eguana Technologies Inc.

Eguana Technologies Inc.

October 06, 2014 09:30 ET

Eguana Doubles Bi-Direx Unit Shipments in Fourth Quarter

CALGARY, ALBERTA--(Marketwired - Oct. 6, 2014) - Eguana Technologies Inc (TSX VENTURE:EGT), ("Eguana" or the "Company") a leading supplier of high performance power controls for grid edge energy storage applications is pleased to announce that it has doubled unit shipments of its leading Bi-Direx power control system during the fourth quarter of this year continuing a steady upward trend in shipments. Following a Third Quarter total of 399 units, 800 Bi-Direx power electronics sub-assemblies, in power ratings of 1.8kW, 2.5kW, 3.5kW and 5 KW, were manufactured and shipped from the Company's facilities in Germany and Canada during its Fourth Quarter; related magnetic components are shipped directly from China.

"Demand for Bi-Direx in the European solar self consumption market continues to accelerate based on the successful launch of the Sonnenbatterie "ECO" product in June of this year," commented Justin Holland, COO of Eguana. "Since launching the Bi-Direx platform in June 2013, we have shipped more than 1,700 units for the German solar self consumption markets positioning Eguana as the market leader in this growing segment. We estimate that Sonnenbatterie took about 25% of the total market in Germany over the past 12 months, a market share which we expect they will improve with the new ECO."

EUPD a leading research agency has indicated that it expects demand in Germany alone to grow to 40,000 units annually in 2016; and to more than 100,000 units annually by 2018. Significantly, EUPD estimates that the retrofit market, where Eguana has key competitive advantages, will represent 70% of the total residential market.


Headquartered in Calgary, Alberta, Canada, Eguana Technologies Inc. designs and manufactures intelligent high performance low-voltage power electronics platforms for distributed smart grid and energy storage applications. Eguana's software configurable platform enables energy storage systems to optimize the lower cost, modularity and safety advantages of low voltage advanced battery technologies at a much lower cost, and with greater design flexibility than is possible with conventional power electronics solutions.

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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 concerning potential growth in the German residential storage market; and statements concerning the features of our Bi-Direx platform and its value for energy storage systems. 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 Management Discussion and Analysis related to its 2013 Annual Financial Statements. 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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