CALGARY, ALBERTA--(Marketwired - Jan. 22, 2016) - Eguana Technologies Inc. (TSX VENTURE:EGT)(OTC PINK:STGYF), is pleased to announce that its AC Battery is the first energy storage device to be approved by the Hawaiian Electric Company under their new advanced interconnection requirements. When paired with the E-Gear Energy Management Controller as part of the E-Gear BESS, the integrated system now supports residential PV interconnection under Hawaii's new Customer Self-Supply tariff.
"The Customer Self-Supply program is the first step in reestablishing Hawaii's residential PV market in a sustainable way and we are proud to be suppliers of the first storage system to support this market evolution," said Brent Harris, Chief Technology Officer at Eguana Technologies. "In the coming weeks the 25 megawatts allocated under the transitional Grid Supply program will be fully subscribed and beyond that, solar installers will need to package their PV systems with an approved storage system for interconnection to the grid" added Harris. With the Hawaiian certification Eguana's power control system continues to lead the industry in global certifications and market readiness.
"We have spent 2015 developing and testing our BESS energy storage solution and are very pleased to start 2016 by having our solution included on the Hawaiian Electric list of qualified Customer Self-Supply equipment," said Chris DeBone, Managing Partner at E-Gear LLC. "There has been a lot of talk about storage systems and what they can do to support higher utilization of rooftop solar, and we are now ready to be the first to start demonstrating those solutions," said Steve Godmere, Managing Partner at E-Gear, LLC.
E-Gear has started building BESS inventory in Honolulu with deliveries scheduled to ramp through the first quarter.
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.
(January 22, 2016 - 9:00 AM EST)
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