CALGARY, Alberta, Aug. 14, 2018 (GLOBE NEWSWIRE) — Eguana Technologies Inc. (TSX.V: EGT) (OTCQB: EGTYF) is pleased to provide an update on recent sales activities and global product rollout.
Throughout the spring of 2018, the Company launched a portfolio of fully integrated and factory assembled residential and small commercial energy storage systems, commercially certified for major markets including North America, Europe, and Australia. The product portfolio includes market and application specific solutions designed for mass adoption through energy storage and electrical distribution networks.
Recent sales and marketing activities have increased distribution and customer partnerships significantly, with multi-partner coverage in all target markets. As a result, the Company has achieved a +550% increase in product sales growth as compared to its first three fiscal quarters of 2017. The Company has confirmed July orders have exceeded $3 million, eclipsing its first two fiscal quarter results of $2.4 million and expects an additional $3 million for the balance of the fiscal year.
“Our factory integrated solutions have been designed for fast and simple installations with maximum flexibility, delivering a full suite of grid services capability and consumer value for self- consumption and seamless back up power,” commented Justin Holland, Eguana’s Chief Executive Officer. “Upon receiving the Mercedes Benz Energy endorsement for Evolve, we executed a global distribution strategy with exceptional results over a very short period of time. Recurring orders have started, 12 new distribution and installer partnerships around the world, with an expectation of additional partners in the coming weeks and months.”
About Eguana Technologies Inc.
Based in Calgary, Alberta Canada, Eguana Technologies Inc. (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
CEO, Eguana Technologies Inc.
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.