CALGARY, ALBERTA--(Marketwired - Dec. 5, 2013) - Eguana Technologies Inc (TSX VENTURE:EGT), ("Eguana" or the Company") a leading supplier of power conversion solutions for battery based energy storage systems announced today that is raising $1.6 million by way of a private placement of 1,200 $1,000 exchangeable limited partnership units ("LP Units") of EGT Markets Limited Partnership ("Partnership") exchangeable for common shares of Eguana after December 31, 2013, at an exchange ratio of $0.45 per share; and 1 million common shares at a price of $0.40 per share.

The common shares issued under the private placement, as well as any common shares issued on the exchange of LP Units will be subject to a 4 month hold that expires April 4, 2014.

The net proceeds of the issue will be used to increase Eguana's engineering support capacity; to secure additional production test equipment for the SRI manufacturing facility in Durach Bavaria (See News Release dated October 24, 2013: Eguana Technologies' BiDirex Inverters to be "Made in Germany"); and to increase working capital reserves.

Eguana's patented software driven approach to power conversion is quickly gaining recognition as the industry's best power conversion solution for all the emerging low voltage battery technologies that will drive the energy storage market. "Expanding our engineering capacity allows us to move much more quickly to build the industry partnerships that will position Bi-Direx as the global market leader," said Michael Carten, CEO of Eguana.

Shifting European production to SRI significantly improves Eguana's ability to respond to increased demand and changes in product mix, at the same time simplifying the supply chain and reducing operating costs. "Our goal is to have SRI fully operational by the end of January," Carten added.

The selling concession on the issue is 7% of gross proceeds, plus broker warrants equal to 7% of the common shares issuable under the private placement, exercisable for a period of one year from closing at $0.45/share. The Company and Partnership have completed the sale of 1,085 LP Units and 1,000,000 common shares for total gross proceeds of $1,485,500; and expect to complete the sale of the balance of LP Units shortly.

Eguana also announced that it has reached an agreement with Doughty Hanson Technology Ventures, the holder of most of the Company's First Preferred Shares, and certain Eguana directors holding First Preferred Shares to remove the fixed redemption term on its First Preferred Shares, subject to approval of the TSX Venture Exchange, and subject to the approval of 2/3 of the holders of each Series of First Preferred Shares to be obtained at a special meeting of each Series duly called for this purpose.


Headquartered in Calgary, Alberta, Canada, Eguana Technologies Inc. designs and manufactures intelligent high performance low-voltage power conversion solutions for smart grid and micro-grid energy storage systems. Eguana's software configurable power electronics platform works with all the known battery technologies and is easily adapted to accommodate a wide range of battery operating parameters. Eguana's "universal" platform has been designed from the bottom up to be integrated directly into fuel cell and battery based energy storage and energy management systems to reduce cost and adapt to different form factors.

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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 concerning the value of the Company's energy storage inverter;and statements concerning the benefits of shifting European manufacturing to Germany.

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 current Annual Information Form which may be found on its website or at 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.

Contact Information:

Eguana Technologies Inc.
Michael Carten
+1.403.508.7177 ext 111