ONEnergy Inc.
TSX VENTURE : OEG

ONEnergy Inc.

June 04, 2015 08:00 ET

Sunwave Energy Efficiency Selects Eguana's AC Storage Technology for Residential Energy Storage Product Line

TORONTO, ONTARIO--(Marketwired - June 4, 2015) - Eguana Technologies Inc. (TSX VENTURE:EGT), ("Eguana") a leading supplier of high performance power conversion and control systems, and Sunwave Energy Efficiency ("Sunwave"), a division of ONEnergy (TSX VENTURE:OEG) jointly announced today that Sunwave has selected Eguana's AC Battery with LG Chem lithium-ion batteries for use in its line of energy storage solutions. As previously announced, Sunwave has entered into a distribution and sales agreement with LG Chem and is introducing market-leading residential and commercial/industrial storage solutions in Canada and in six U.S. states during the third quarter of 2015.

Eguana's AC Battery incorporates its patented Bi-Direx Power Control System ("PCS") and balance of system ("BOS") components and lithium-ion battery modules from LG Chem in a pre-integrated and factory assembled UL certified product solution.

"At Sunwave Energy Efficiency our commitment to best-in-class energy storage products continues with our residential energy storage offering," said Sandro Costa, Vice President, Sunwave Energy Efficiency. "Eguana's residential storage product brings robust, reliable and affordable commercial-grade energy storage to the home. Working with Eguana technology allows Sunwave to bring to homeowners a more resilient home infrastructure and provide a cost effective way to harness renewables and off-peak energy pricing."

Sunwave's advanced residential energy storage system, which is based around LG Chem's lithium-ion batteries and Eguana's industry-leading PCS will enable Sunwave to provide residential customers with scalable, flexible solutions to address multiple applications including demand charge management, peak shaving, off-peak energy storage, renewables integration, and emergency backup systems. Sunwave will provide customers with comprehensive technical and service support including system design, installation and maintenance services.

"Eguana and LG Chem have been working in parallel to develop strategic channels within the residential grid service sector so we are pleased to have Sunwave join as a strategic partner," said Michael Carten, CEO, Eguana Technologies. "Sunwave has developed unique channels leveraging existing relationships with utilities, new home builders and solar PV installers which will expedite our market entrance strategy on both sides of the border."

Eguana's model is to deliver a fully integrated UL certified energy storage system with best-in-class lithium-ion batteries that is easily installed and which needs only the energy management and controls to provide a complete product solution for home energy storage solutions.

About ONEnergy Inc.

ONEnergy is a fast-growing, dynamic energy management firm serving commercial, industrial, multi-residential and residential clients via its Sunwave™-branded energy and energy-efficiency businesses. Sunwave specializes in helping customers use energy more wisely by minimizing their energy consumption and then cost-effectively managing the balance. We provide a variety of products and services including energy-efficient heating, cooling and air-conditioning equipment, solar PV-integrated energy storage systems, complete turnkey LED lighting retrofits (including financing), supply of conventional and "green" electricity for homes and businesses, commercial solar PV installations, home protection plans, building envelope upgrades, energy audits and more to help our customers conserve, simplify and effectively manage their energy costs.

Sunwave serves customers in both Canada and the United States, with offices in Toronto, Vancouver, Ottawa, and Norwalk, CT. ONEnergy common shares are listed on the TSX Venture Exchange under the symbol "OEG". ONEnergy's corporate website may be found at www.onenergyinc.com. Follow us on Twitter at @gosunwave or Facebook at www.facebook.com/gosunwave.

About Eguana Technologies 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 at https://twitter.com/EguanaTech.

The corporate information contained in this release includes forward-looking statements regarding future events and the future performance of ONEnergy and its subsidiaries that involve risks and uncertainties that could cause actual results to differ materially. Assumptions used in the preparation of such information, although considered reasonable by ONEnergy at the time of preparation, may prove to be incorrect. The actual results achieved may vary from the information provided herein and the variations may be material. Consequently, there is no representation by ONEnergy that actual results achieved will be the same, in whole or in part, as those forecast.

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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