Eguana Technologies Inc.
TSX VENTURE : EGT

Eguana Technologies Inc.

October 24, 2014 08:30 ET

Eguana Strengthens Leadership Team-Appoints Industry CFO

CALGARY, ALBERTA--(Marketwired - Oct. 24, 2014) - Eguana Technologies Inc (TSX VENTURE:EGT), ("Eguana" or the "Company") a leading supplier of high performance power controls for distributed grid edge energy storage applications is pleased to announce that Michael G Dalton has been appointed as Vice President of Finance and Chief Financial Officer of Eguana Technologies Inc, effective immediately. Mr. Dalton is a seasoned financial executive with more than 20 years experience, most recently as Finance Director for Raytheon Canada Ltd, a large technology based defense contractor. At Raytheon, Mr. Dalton was responsible for financial reporting for Canadian operations within the global Raytheon Group and was a key contributor to strategic and risk management planning.

Mr. Dalton brings highly relevant financial and management experience and a strong leadership background in industry and the Canadian military. In particular, Mr. Dalton`s Raytheon experience, where he received the Raytheon Six Sigma Specialist qualification, brings the core financial and process disciplines needed for a technology based manufacturing company that Eguana has become.

"I am very happy to have Michael join the Company at this important juncture in Eguana's history," commented Michael Carten CEO of the Company.

"Eguana is rapidly moving into a revenue growth mode. We doubled production in each of the past three Quarters and this month we are shipping more than 100 units per week in Germany. Michael is a key addition to a very strong operations team led by COO, Justin Holland and one of the best power electronics engineering groups in Canada led by CTO Brent Harris."

Michael Dalton is a Chartered Accountant (Canada), Chartered Public Accountant (U.S.) and Chartered Global Management Accountant. In addition to these certifications, he has an Executive MBA, 2013 from Athabasca University and is a graduate of the Raytheon Leadership Development Program, the Army Operations Course at Canadian Land Command and Staff College, in Kingston, Ontario and the Army Tactical Operations Course, 2006 at the Combined Arms Training School at Gagetown, New Brunswick

The Company also noted that it has granted 300,000 employee stock options to Mr. Dalton under the Company`s Stock Option Plan exercisable at a price of $0.38 per share.

About EGUANA TECHNOLOGIES, INC:

Headquartered in Calgary, Alberta, Canada, Eguana Technologies Inc. designs and manufactures power conversion and control platforms ("Bi-Direx") and integrated energy storage modules ("AC Batteries") build around the Bi-Direx platform. The Bi-Direx platform incorporates patented and proprietary technologies which allow advanced battery technologies to be deployed in the lower power ratings required for distributed energy storage systems without compromising high power conversion efficiencies. A proprietary "open" control strategy allows the power control systems to be easily modified to optimize the operating parameters of virtually any battery technology to deliver the highest performance and lowest cost solution for multiple applications.

Eguana's AC Batteries come in power ratings ranging from 1.8kW to 15kW. The AC Battery's "parallel" design allows highly flexible storage capacity which can be easily scaled incrementally to meet changing customer needs.

To learn more, visit www.EguanaTech.com or follow us on Twitter, https://twitter.com/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 concerning potential growth in the energy 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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