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Eguana Technologies Inc
Symbol EGT
Shares Issued 222,711,235
Close 2018-10-31 C$ 0.18
Market Cap C$ 40,088,022
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Eguana signs distribution deal with Australia's BayWa

2018-11-01 13:26 ET - News Release

Mr. Justin Holland reports

BAYWA R.E. SOLAR SYSTEMS AUSTRALIA BEGINS NATIONAL DISTRIBUTION OF THE EGUANA EVOLVE

Eguana Technologies Inc. has entered into a national distribution agreement with Australia's BayWa r.e. Solar Systems Pty. Ltd. for its Evolve and Elevate product lines. Evolve is immediately available, with Elevate set for release in the spring of 2019.

"Australia is a rapidly growing market for the company and BayWa was a clear distribution partner for national coverage," stated Justin Holland, chief executive officer for Eguana Technologies. "First orders have been received, with the first container shipment scheduled in early December, 2018, after product and installation training have been completed."

Australia remains the world's fastest-growing market for residential energy storage and is supported by both utilities and state governments. Eguana's Evolve product delivers advanced capabilities for customers under innovative demand response and virtual power plant (VPP) programs being established to increase grid reliability, along with standard backup power and solar self-consumption. "Australia is currently the world's most densely saturated residential solar rooftop market, with a relatively low number of integrated batteries installations, opening both new and retrofit markets for Eguana," Mr. Holland added.

"The Australian market needs a reliable supply of high-capacity residential energy storage systems," said Durmus Yildiz, managing director at BayWa r.e. Australia. "The Evolve system has impressive grid interactive capabilities, and we look forward to developing remote power solutions for our customers on Eguana's energy storage platform."

Evolve -- home energy storage systems

Evolve is a fully integrated residential energy storage system that includes the company's proprietary power electronics system, LG Chem low-voltage battery modules and a comprehensive user interface. The system is rated at five-kilowatt AC output with a modular battery design based on a 6.5-kilowatt-hour battery, which is scalable from 13 to 39 kilowatt-hours in storage capacity. The wall-mounted package is suitable for indoor and outdoor installations. The package is backed by a 10-year standard warranty.

The Evolve supports grid-connected solar self-consumption, time of use and backup power. It is certified to AS4777 and is available in Australia.

About Eguana Technologies Inc.

Based in Calgary, Alta., Canada, Eguana Technologies 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 and North America.

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