CALGARY, ALBERTA--(Marketwired - March 27, 2017) - Eguana Technologies Inc. (TSX VENTURE:EGT)(OTCQB:EGTYF) confirms initial orders and growing interest in its Commercial AC Battery product. As the Company completes final integration testing and preparation for submission to regulatory certification, lead customers are securing product supply along with Eguana's integration support for their applications with early orders. First deployments will be in Alberta, Texas, and Colorado followed by California.
"With final product specifications and pricing completed, it is very encouraging to see the widespread interest in our new commercial product and how quickly it has translated into early orders," said Justin Holland, CEO at Eguana Technologies. "Inquiries are coming from multiple market channels with greatest interest from customers looking to increase their current commercial energy efficiency and EV charging services, along with established developers who have been waiting for a 15kw/30kwh 3-phase product option that fills a long-standing gap in the marketplace."
Confirmed interest and orders support Eguana's market analysis that a smaller, factory integrated and assembled PCS+Battery product will fill the unmet need in the market for small commercial and EV charging applications. While larger projects, which have dominated the early market, can accommodate higher overheads and complex financing arrangements, the vast majority of the behind the meter market applications cannot support such large footprints, which result in rapidly diminishing returns for demand charge reduction as the system power size and capacity increases.
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 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.
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