CALGARY, ALBERTA--(Marketwired - May 22, 2014) - Eguana Technologies (TSX VENTURE:EGT), ("Eguana" or the "Company") a leading manufacturer of high performance power conversion and control systems for "smart-grid" and "micro-grid" energy storage systems, today announced that one of the leading developers of next generation batteries in the United States has selected Eguana's Bi-Direx for ongoing battery system testing, product development and performance evaluation for distributed "edge of grid" applications.
The advanced battery technology, which is currently under development, is unlike any other battery technology and is distinct from other storage options available on the market today. The award winning developer combines unique chemistry and an innovative design, to deliver a low cost structure, flexible system response, and a long life cycle.
Michael Carten CEO of Eguana commented: "The significance of this purchase order is in the recognition by one of the US' leading venture capital funded battery developers of the value of Eguana's Bi-Direx platform in making new lower cost technologies available in scalable, highly reliable, lower power modules that are needed for the distributed storage markets.
In less than a year, Bi-Direx has gained recognition in Europe, the US, and Asia, as one of the best alternatives available to battery manufacturers and to energy storage project developers to take the new lower cost technologies to distributed "edge of grid" markets.
Eguana's mission is to lever Bi-Direx' easy adaptability into a software configurable "universal" electronics module that can be used by battery manufactures to optimize and showcase their own proprietary technologies, and by project developers everywhere to select the best battery for the particular application, without needing to change their basic control strategies.
Next generation battery technologies are typically characterized by high current to voltage ratios which are challenging for conventional high voltage inverters when used in the lower power ratings needed for distributed systems. Bi-Direx' patented technology enables the lower power ratings with best in class energy conversion efficiencies. Unlike competitive inverters in its class, Bi-Direx' proprietary design is easily adapted to the different operating specifications of the different technologies allowing its customers to easily optimize battery performance for variable operating conditions of distributed energy storage systems.
No details on volumes or the identity of the customer are being released at this time to maintain customer confidentiality and for competitive reasons.
About EGUANA TECHNOL0GIES, INC:
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.
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 better performance of the Bi-Direx energy storage inverter with next generation battery technologies statements concerning the design flexibility of the Bi-Direx energy storage with a wide range of new battery technologies and statements concerning our business model
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.