CALGARY, ALBERTA--(Marketwired - Oct. 5, 2015) - Eguana Technologies Inc. (TSX VENTURE:EGT) a leading supplier of power control and conversion solutions announced today that it has received an initial purchase order from Hawaii based E-Gear LLC. The Parties had previously announced a multi-year contract in December 2014 to supply Eguana's power control systems for E-Gear's Battery Energy Storage System (BESS), which is bundled with E-Gear's advanced Energy Management Controller (EMC) for a turn-key edge of grid energy management and grid services solution.
E-Gear launched the integrated advanced technologies earlier this month at Solar Power International in Anaheim, the largest solar power show in North America, and received tremendous interest from solar installers, distributed energy resource (DER) aggregators, and utilities. "Specifically designed to provide edge-of-grid visibility and support to Utilities dealing with high penetrations of rooftop solar PV, our technology delivers significant value to every stakeholder in the energy generation and distribution chain" said Steve Godmere, Co-Founder and managing partner of E-Gear, LLC. "Fleets of residential storage are the best way to address the issues of high penetration PV, and Eguana's power controls provided the most flexible and efficient platform for residential energy storage on the market."
"Utilities are rapidly moving away from simple electrical generation and distribution models to more intelligent and dynamic energy management systems," said Brent Harris, CTO of Eguana Technologies. "E-Gear's EMC Energy Management Controller has been developed through consultation and demonstration with utilities to provide a full suite of advanced tools to aggregate, dispatch and monitor fleets of storage systems and we are proud that our power electronics are a critical component in E-Gear's "BESS" offering."
More information on the benefits of E-Gear's BESS can be found at: Benefits of E-Gear's BESS
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 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.
(October 5, 2015 - 9:01 AM EDT)
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