CALGARY, Alberta, Nov. 01, 2018 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) is pleased to announce it has entered into a national distribution agreement with Australia’s BayWa r.e. Solar Systems Pty Ltd for its Evolve and Elevate product lines. Evolve is immediately available, with the Elevate set for release in the Spring of 2019.
“Australia is a rapidly growing market for the Company and BayWa was a clear distribution partner for national coverage,” stated Justin Holland, Chief Executive Officer for Eguana Technologies. “First orders have been received, with the first container shipment scheduled in early December 2018, after product and installation training have been completed.”
Australia remains the world’s fastest growing market for residential energy storage and is supported by both utilities and state governments. Eguana’s Evolve product delivers advanced capabilities for customers under innovative demand response and Virtual Power Plant (VPP) programs being established to increase grid reliability, along with standard back up power and solar self-consumption. “Australia is currently the world’s most densely saturated residential solar roof top market, with a relatively low number of integrated batteries installations, opening both new and retrofit markets for Eguana,” Holland added.
“The Australian market needs a reliable supply of high capacity residential energy storage systems,” said Durmus Yildiz, Managing Director at BayWa r.e. Australia. “The Evolve system has impressive grid interactive capabilities and we look forward to developing remote power solutions for our customers on Eguana’s energy storage platform.”
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 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 certified to AS4777 and is available in the Australia.
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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.
About BayWa r.e. Solar Systems Pty Ltd.
More than 16% of Australian households have a solar system on their roof. This number is expected to continue to grow in the next few years. In addition to the solar household boom it is predicted that this country will also lead the way in the adoption of battery storage technology. BayWa r.e. Solar Systems with their head office in Perth is well equipped to support their customers with the right products and customized system packages for all types of on-grid as well off-grid applications.
|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.
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