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CALGARY, ALBERTA--(Marketwired - Mar 21, 2016) - Eguana Technologies Inc. (TSX VENTURE:EGT) (OTCQB:EGTYF) previously reported Molokai grid services deployment project in conjunction with E-Gear and Hawaiian electric has received tremendous industry response at the Maui Energy Conference. Maui Electric representatives described in broader detail the recently announced plan to deploy utility owned residential storage assets with E-Gear LLC's EMC and Eguana/LG Chem AC Battery to evaluate its ability unlock further grid capacity on the island of Molokai. The success of this pilot will validate the ability of distributed energy storage to stabilize the island grids and increase grid carrying capacity for solar PV. Contrary to much of the press coverage on recent changes to the regulations around rooftop PV in Hawaii there was a clear will to collaborate between the PV industry, the utilities, and the regulator.
"The feedback from the industry on this project was phenomenal," noted Brent Harris, Chief Technology Officer at Eguana Technologies, who was on hand for the event last week. "While the advantages of deploying residential energy storage to support further solar PV installations are clear to all, it is taking time for installers to define new selling propositions under the recently introduced Customer Self Supply and Customer Grid Supply tariffs. The great news is that in addition to customer owned energy storage, utilities and aggregators are now deploying product under higher value business models and the PV industry is welcoming any and all of these three ownership scenarios as long as the result is continuing rooftop PV installations and continued progress toward 100% renewable energy for Hawaii."
About E-Gear, LLC
E-Gear, LLC is a renewable energy innovation company offering proprietary patented and patent pending edge-of-grid energy management and storage solutions. These systems provide intelligent real-time adaptive control, flexibility, visibility, predictability and support to energy generating customers, renewable energy solution providers, energy service companies (ESCO's) and Utilities.
About The AC Battery:
The Eguana AC Battery™ is a certified, grid ready power control solution pre-integrated with industry leading Li-Ion batteries. Our solution can be seamlessly integrated with a local energy management system or a distributed fleet control network using open communication protocols to provide a fully functional energy storage installation. The AC Battery provides maximum flexibility for system aggregators which want to deploy it as a standalone product, as part of new solar storage installations, or as a retrofit to solar PV installations already in place.
About Eguana Technologies Inc.
Eguana Technologies Inc. (TSX VENTURE:EGT) designs and manufactures high performance power controls for residential and commercial energy storage systems. Eguana has more than 15 years' 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 the leading supplier of power controls for solar self-consumption, grid services and demand charge applications at the grid edge.
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.
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