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

Eguana Technologies Inc.

March 08, 2016 09:00 ET

Hawaiian Electric to Deploy E-Gear/Eguana AC Battery to Increase Rooftop PV on Molokai

CALGARY, ALBERTA--(Marketwired - March 8, 2016) - Eguana Technologies Inc. (TSX VENTURE:EGT)(OTC PINK:EGTYF) announced that its AC Battery will be deployed by the Hawaiian Electric Companies as part of the E-Gear BESS residential energy management control (EMC) and storage system to help clear the backlog of rooftop PV applications and improve grid power quality and reliability on the island of Molokai. This will be the first utility deployment of residential energy storage systems in the USA for the purpose of increasing rooftop PV on saturated feeders.

"Many approaches are being explored to increase rooftop PV penetration Hawaii and elsewhere, but residential energy storage is demonstrating its advantages," said Brent Harris, Chief Technology Officer at Eguana Technologies. "No matter who is deploying the solution - new PV customers, the utility, or others - energy storage offers a level of versatility and capability that is unmatched by any other grid edge solution, and no other storage solution matches the performance of our AC Battery."

"We have focused on ensuring we are able to deliver value to both utility customers and the utility while developing our BESS over the past several years," said Chris DeBone, Co-Founder of E-Gear LLC. "To have the opportunity to enable utility efforts to overcome such a fundamental barrier to continued rooftop PV growth in Hawaii is truly an honor," continued DeBone. "We are ready to support a range of deployment strategies and expect to see a broadening range of use cases for residential energy storage and renewed growth in rooftop PV installations in Hawaii through 2016," added Steve Godmere, Co-Founder of E-Gear LLC.

E-Gear and Eguana have had their solution under laboratory evaluation with Hawaiian Electric since early 2015.

About E-Gear, LLC

E-Gear, LLC is a renewable energy innovation company offering proprietary patented and patent pending edge-of-grid energy management and storage solutions. These systems provide intelligent real-time adaptive control, flexibility, visibility, predictability and support to energy generating customers, renewable energy solution providers, energy service companies (ESCO's) and Utilities.

About The AC Battery:

The Eguana AC Battery™ is a certified, grid ready power control solution pre-integrated with industry leading 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.

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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