Eguana Technologies Inc.
TSX VENTURE : EGT

Eguana Technologies Inc.

May 29, 2015 08:30 ET

Eguana Technologies to Partner with Global Contract Manufacturing Firm for Bi-Direx Production in Germany and California

CALGARY, ALBERTA--(Marketwired - May 29, 2015) - Eguana Technologies Inc. (TSX VENTURE:EGT) ("Eguana" or the Company"), a leading supplier of power control and conversion solutions for edge of grid energy storage systems, announced today that has signed a letter of intent to partner with Asteelflash (www.asteelflash.com), a global supplier of electronics manufacturing services ("EMS"), to manufacture Eguana's patented Bi-Direx power control and conversion system and its innovative AC Batteries in Germany and in California.

"The partnership with Asteelflash will deliver lower manufactured costs of Bi-Direx systems in Germany, and will position us in California to begin shipping 'made in California' AC Batteries that will enable energy storage system aggregators to access higher incentives for domestically manufactured products," commented Justin Holland, COO of Eguana. "With 19 facilities on 4 continents - Europe, America, Asia and Africa - along with engineering and support services, Asteelflash is the perfect sized partner as we execute our global plan. Their quality programs are excellent and they will provide manufacturing warranties that will become central to our bankability strategy in the U.S."

Eguana has already shipped Bi-Direx power control systems for more than 4,000 energy storage systems, a number that is growing at a rate of more than 400 per month. The Company expects to transition manufacturing later this summer in Germany to serve the residential solar self-consumption applications in Europe; and in California as it begins to ramp production of AC Batteries for networked residential applications and for the commercial demand charge response market in California and other states.

About ASTEELFLASH

Asteelflash Group operates 19 manufacturing sites on 4 continents with a headcount of around 5,200 employees. The company Asteel was founded in 1999. In 2008, Asteel acquired Flash Electronics, located in the United States and China. Asteelflash Group is created with one key location in Fremont, California. Asteelflash California, Inc. provides electronics manufacturing and integrated supply chain services. It offers manufacturing, testing, and fulfillment solutions. The company also provides customized solutions ranging from prototype to fulfillment. It serves telecom, Internet, computers, automation and instrumentation, communications, industrial control, audio/video, and storage markets.

For more information on Asteelflash, visit www.asteelflash.com.

About EGUANA TECHNOLOGIES INC:

Headquartered in Calgary, Alberta, Canada, Eguana Technologies Inc. designs and manufactures intelligent, high performance, low-voltage power control and conversion solutions for smart grid and micro-grid energy storage systems. Eguana's patented 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.

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 the potential for reduction of manufactured costs of our products under the partnership with Asteelflash; statements concerning the potential eligibility for government incentives for products manufactured in California; and statements concerning the performance of our Bi-Direx and AC Battery products.

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 current Annual Information Form 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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