Omega EMS San Jose Production Facility Fully Commissioned for Eguana Products

Calgary, Alberta, CANADA


CALGARY, Alberta, May 25, 2022 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) today announced that full turnkey production and supply chain management is now underway at the Omega EMS facility in San Jose, California. Every stage of energy storage system production is active including circuit board, inverter and system assembly, and final functional testing with multiple Omega personnel trained at each station. The Company, along with key Omega personnel, continue to collaborate on throughput optimization within the manufacturing process.

“With demand scaling very quickly we took the decision to expedite the full manufacturing and supply chain transition throughout the March quarter. Establishing full turnkey capability and increasing our manufacturing capacity was critical given the market feedback for steady supply” commented Eguana CEO Justin Holland. “Omega has also performed above and beyond expectation under very difficult circumstances to assist our development team in updating the product design in alignment with current supply chain constraints, all while reconfiguring their facility for energy storage production, assembly, and test.”

“We are very pleased to have all the pieces in place and to have continuous production here in the San Jose California facility. Market response has been excellent and we have already begun expanding our operations to accommodate expected demand increases,” said Chris Alessio, President of Omega EMS. “With our engineering development and supply chain teams integrated as tightly as they are, we will continue to solve supply chain and material constraints to achieve our production objectives.”

Shipments of Omega produced product have begun with current production capacity sitting at 400 units per month. Additional test equipment is on order and expected to be installed and commissioned within the next two quarters providing an 800 unit per month production capacity.

Interested parties may contact:

Eguana Technologies
Livio Filice
Director of Global Sales
Livio.Filice@EguanaTech.com
+1.905.929.7522

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, Australia 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.