Swell Energy and Eguana Technologies Renew Partnership to Include the Evolve Smart Energy Storage System
CALGARY, Alberta, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) and Los Angeles-based Swell Energy are pleased to announce the Evolve residential energy storage system is now available through Swell Energy.
Swell Energy installs the Eguana Evolve in Southern California
The introduction of the Evolve system will expand the product offering on Swell’s distributed energy resource (DER) platform. To date, Swell Energy has built a pipeline of over 35 MWh of residential energy storage projects in California, which it is assembling into a virtual power plant to deliver grid services. Swell’s virtual power plant will include more than 2,500 homes across California, making this the largest fleet of home batteries in North America providing grid services.
“A diversified product portfolio is critical in the residential energy storage business. The addition of the Eguana Evolve will provide Swell’s customers, installers, and utilities an advanced, new product option,” said Andrew Meyer, head of grid services at Swell. “Our team is already experienced with the Eguana system so it is a natural fit to include it in our product portfolio and extend the offering to our network of partners.”
“Swell Energy is the Californian leader in the aggregated residential energy storage market creating an ideal opportunity for Eguana to expand into another critical market segment,” said Livio Filice, Eguana’s Director of Residential Sales, North America. “Having the Evolve product available with Swell significantly expands our sales reach on the west coast ensuring our products are available to homeowners and quality contractors in the Swell stable. And by working with Swell, our systems will be used to provide grid services to utilities, realizing the full potential of the Evolve system.
Swell Energy and several of their partners have already completed installations of Eguana’s AC battery system in California. Evolve product certification training is scheduled to take place over the next two months with new installations expected to occur later this year.
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
Swell Energy Shawn Jacobson Sr. Director of Operations [email protected] +1.805.804.7965
About Swell Energy: Swell Energy is a clean energy platform that makes it easy for consumers and utilities to adopt modern alternatives to traditional energy technology. For consumers, Swell is a one-stop shop for home batteries and solar PV, which it offers as-a-service with zero upfront cost, providing homeowners with cleaner, more secure and more affordable power. For utilities, Swell deploys DERs in accordance with utility needs, and aggregates its customers and assets into virtual power plants that provide targeted grid services, offsetting the need for new power plants and costly distribution system upgrades.
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.
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.
Source: GlobeNewswire
(September 25, 2018 - 9:00 AM EDT)
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