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Eguana Receives +$7 Million Micro Inverter Order

·2 min read
Eguana Technologies Inc.
Eguana Technologies Inc.

CALGARY, Alberta, June 14, 2022 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) today announced it has received its first micro inverter order from the Omega Group. The order, consisting of single, dual, and quad style micro inverters, totals nearly 26,000 units with a combined value of just over $7M . Initial bulk container shipments are currently in transit with installer and branch level fulfillment orders expected to commence shipping in the next 4 weeks.

“We have an incredible opportunity in the US micro inverter market and feedback from our distribution partners has been very clear. There is significant demand for a fully integrated solar + storage solution with a recognizable brand to diversify the market and provide consumers with renewable energy choice” commented Eguana CEO Justin Holland. “Energy storage and residential rooftop solar will both play critical roles in transforming the power grid and providing desperately needed EV infrastructure, with our partner Omega we now have both readily available.”

Chris Alessio, President and CEO of the Omega group, added “completing the energy storage manufacturing and supply chain transition to Omega was a critical step in achieving our combined goals. With micro inverter shipments already on the water, we are in good shape to meet customer demand for storage and solar. Distribution growth has been phenomenal and we intend to keep the pedal down and execute this massive opportunity.”

The micro inverter line has been developed to accept higher power than competitive products delivering up to 15% more energy annually. Single, dual, and quad PV panel configurations are immediately available for distribution.

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.