CALGARY, Alberta and AGUADILLA, Puerto Rico, Nov. 27, 2018 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) and Maximo Solar Industries (Maximo) are pleased to report that initial shipments of the Evolve system have landed in Puerto Rico. The Companies have also confirmed an additional container of Evolve systems are in transit with further shipments expected to take place in December. Further, the companies have agreed to allocate up to two containers per month throughout 2019 ensuring a consistent supply of Eguana Evolve’s required to meet the demand being generated by Maximo Solar and their extensive network of partners.

Maximo has begun to market the Evolve energy storage system across Puerto Rico through its network of sales agents, six retail locations, social media, print advertisement and other marketing channels. Maximo is offering the 13KWh Evolve system, coupled with 15 solar PV panels, balance of system components and installation for a low monthly cost of $255 / month or $22,995 cash purchase.

The Evolve systems and accompanying marketing material will be on display at all 5 of Maximo’s retail locations across Puerto Rico as well as the company’s kiosk located at Plaza America, the largest shopping mall in the Caribbean. Additionally, the companies have agreed that effective January 2019, Evolve will be available to Maximo Solar’s network of resellers and contractors located in Puerto Rico, Florida, USVI, BVI and other select markets.

“We entered Puerto Rico through the largest solar + battery systems provider, who has a tremendous amount of experience selling, installing and servicing energy storage systems. Maximo has built a strong reputation and customer base that is seeking a cost-competitive storage solution to add to their existing solar systems,” commented Livio Filice, Director of Residential Sales. “We are thrilled to be positioned as a market leader in a region that clearly illustrates the advantages of solar + storage systems. Maximo is a key partner and will play a critical role in bringing our leading-edge technology to families and communities who need it the most.”

The AC-coupled design of the Evolve system makes it an ideal solution for outfitting existing solar PV systems where homeowners are looking to install energy storage systems. Maximo Solar maintains over 6,000 Puerto Rican -based residential customers that currently do not have energy storage systems. In addition, it is reported that nearly all new solar systems being installed in Puerto Rico are being integrated with storage solutions.

“Our customers are demanding cost-competitive and proven energy storage systems that are available today. Energy storage systems will continue to play a critical role in the redevelopment of Puerto Rico so we view our battery offering as a critical component of the product portfolio,” said Derlin Muñoz, Director of Sales and Marketing at Maximo Solar. “We have already secured orders for Evolve systems and as the Master Distributor for Eguana in Puerto Rico we are pleased with the relationship and look forward to expanding on it as we enter 2019.”

CEO of Eguana Technologies Justin Holland added “Puerto Rico is aggressively moving to achieve 50% electricity generation from renewables by 2035 and 100% by 2050. We are proud to partner with Maximo Solar to bring the Evolve and energy stability to families in Puerto Rico. As an Eguana Master Distributor Maximo will open distribution channels to additional installers and resellers with the goal of accelerating the solar + storage movement on the island.”  

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
Livio.Filice@EguanaTech.com
+1.905.929.7522

Maximo Solar Industries
Derlin Muñoz
DMunoz@maximosolar.com
Director of Sales and Marketing
+1.787.891.8080

About Maximo Solar

Maximo Solar Industries is an innovative company that is passionate about helping customers achieve renewable energy and contribute to the present and future generations. Maximo Solar is  vertically integrated from sales to service offering various energy system designs including: grid tie, grid tie with backup and off grid configurations. In addition, the company designs and manufactures a line of battery cabinets and PV racking systems.

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 
Justin.Holland@EguanaTech.com 
  

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.