August 7, 2018 - 9:00 AM EDT
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Nu-NRG Group and Eguana Technologies Partner To Expand Distribution In Eastern Canada

CALGARY, Alberta, Aug. 07, 2018 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V:EGT)(OTCQB:EGTYF) and Nu-NRG Group are pleased to announce that the two companies have entered an agreement to bring the Evolve – Home Energy Storage System to Eastern Canada.

Nu-NRG Group is focused on bringing new energy technologies to their network of home builders, product specifiers, government agencies, product installers and end-users. Their product portfolio includes: intelligent solar systems, electric vehicle charging infrastructure and, now, advanced residential energy storage systems.

The company will begin to offer the Evolve system to its network of partners with a focus on new and existing residential solar installations as well as new home construction opportunities. The primary applications for the Evolve system are solar self-consumption and backup power. Ontario’s ‘time of use’ rate structure illustrates the potential for energy storage in the behind-the-meter segment of the market.

“We are excited to be offering a Canadian developed product to our growing network across Canada. The Evolve product complements our existing product offering and initial feedback from channel partners has been positive,” said Patrick Carew, COO at Nu-NRG Group. “We are already seeing demand arise from home builders and utilities throughout Eastern Canada and look forward to completing several high-profile installations this Fall.” 

“We view Canada as a high-growth opportunity in the next years for both our Evolve and our Elevate product lines — we are now executing a sales strategy that ensures we are positioned as a leader in our home market,” said Livio Filice, Director of Residential Sales, North America. “We are working closely with Nu-NRG to bring the Evolve system to their growing roster of clients, all of whom are seeking the most innovative energy solutions.”

Nu-NRG will become an Eguana-certified installer and complete their initial Evolve installations in September. First projects have already been identified and product orders have been placed. Evolve systems will continue to be deployed throughout the balance of this year.

Evolve – Home Energy Storage Systems

Evolve is a fully-integrated residential energy storage system that includes the company’s proprietary power electronics system, LG Chem low-voltage battery modules, and a comprehensive user interface. The system is rated at 5KW AC output with a modular battery design based on a 6.5 kWh battery, which is scalable from 13 to 39kWh in storage capacity. The NEMA 3R wall-mounted package is suitable for indoor and outdoor installations. The package is backed by a 10-year standard warranty.

The Evolve supports grid-connected solar self-consumption, time of use, and backup power. It is now available in the United States and in Caribbean markets, with certification standards matching UL1741, California’s Rule 21, and Hawaii’s Rule 14H.

Interested parties may contact:

Eguana Technologies
Livio Filice
Director of Residential Sales, North America
[email protected]
+1.905.929.7522

Nu-NRG Group Inc.
Patrick Carew
C.O.O
[email protected]
+1.416.543.0011

About Nu-NRG Group

Nu-NRG Group Inc., Headquartered in Toronto, ON. is a complete Sustainability Solution Provider to the Canadian marketplace.  We source Green Technology Solutions globally to enable our Commercial and Consumer clients reduce their Carbon footprint and empower Clean Energy production through advanced turnkey alternative energy solutions.  We provide Canadian representation for Innovative Global Solutions such as Smartflower Solar, Eguana Technologies, Sunflower by Shadecraft, EVoCharge and Elby e-Bike.  For more information, visit www.nu-nrg.ca or follow us @NuNRGGroup on Twitter.

About Eguana Technologies Inc.

Based in Calgary, Alberta Canada, Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF) designs and manufactures high performance residential and commercial energy storage systems. Eguana has two decades of 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 one of the leading suppliers 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

Company Inquiries
Justin Holland
CEO, Eguana Technologies Inc.
+1.416.728.7635
[email protected]

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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Source: GlobeNewswire (August 7, 2018 - 9:00 AM EDT)

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