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.
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Director of Global Sales
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.
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.
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