Mr. Justin Holland reports

EGUANA STRENGTHENS SALES AND PRODUCT DEVELOPMENT TEAMS TO SUPPORT EXPANDING PIPELINES IN U.S. AND EUROPE

Eguana Technologies Inc. is appointing Vishwas Ganesan as director of business development, United States, based in the Bay Area of California, and Keith Johnston as manager of product design, based in Calgary, Alta.

"With our expanding customer base in the United States, and increased visibility on new demand coming from Europe and Japan, we have moved to strengthen our team to improve account coverage, and to accelerate product development and system integration for our customers. Mr. Ganesan and Mr. Johnston significantly improve our bench strength in these two critical areas," commented Justin Holland, chief executive officer of Eguana.

Mr. Ganeson's extensive knowledge and expertise in battery integration, power controls and software, paired with his experience and network within the U.S. industry, will drive results across Eguana's targeted channels. These include grid edge power quality services, residential solar storage and commercial demand charge management services.

Eguana's director of business development Martin Duerr will refocus on the European market where the company is experiencing much-stronger-than-anticipated demand for the Bi-Direx platform. "Mr. Duerr has already established significant volume opportunities in Europe over the past several weeks, and our expectation is sales will commence in 2016," Mr. Holland added. "We have multiple customer inquiries across multiple channels for our entire product offering since the termination of our exclusive relationship in Europe. We are targeting product releases for the residential solar storage market in Europe within the first half of 2016.

"A key element of our sales cycle and our value add is seamlessly integrating our Bi-Direx platform into AC batteries for our customers," commented Mr. Holland. "Mr. Johnston's experience and expertise in power electronics and controls enables us to continue to shorten this process while driving product cost reduction within the development team." Prior to joining Eguana, Mr. Johnston led a team of engineers in the design and development of tracker controllers, electrical systems and module power electronics for SunPower Corp., which is one of the largest residential solar companies in the U.S.

Eguana is also pleased to announce that Curtis Smith has accepted the role of director of finance. Previously the director of corporate reporting with Big Country Energy Services and a chartered accountant through the John Molson School of Business at McGill University, Mr. Smith brings an extensive background in financial and regulatory controls. He has been granted 225,000 stock options upon joining Eguana. Patricia Dahm has left Eguana as part of the management changes; the company would like to thank Ms. Dahm for her services and guidance with a smooth transition.

We seek Safe Harbor.