Mr. Justin Holland reports

EGUANA CONFIRMS ADDITIONAL ORDERS AS GLOBAL PARTNERSHIPS CONTINUE TO EXPAND

Eguana Technologies Inc. has provided an update on sales and partner training activities as new and recurring orders continue to increase.

The company has confirmed it has added an additional $2.5-million in sales orders commencing August, with approximately 80 per cent represented by reorders from existing customers. In addition, Eguana, through its standardized onboarding and Web-based training platform, has trained and certified over 150 technicians, installers and distribution partners in the United States and Australia.

"By standardizing our onboarding process and providing Web-based training we are seeing a rapid expansion of Eguana certified partners and installers. Simplifying this process was critical to achieve 2019 growth objectives in our target markets," commented Justin Holland, Eguana Technologies chief executive officer. "With the order book approaching $6-million over the last 120 days, and over 25 new partner companies certified under the Eguana training program, we believe this growth trajectory will not only continue but will accelerate in the coming quarters."

The company has also confirmed product shipments relative to July orders began in September, with volume shipments expected to commence to Puerto Rico, Hawaii and Australia in November and December.

In anticipation of the increased demand, the company has received its final $750,000 (U.S.) tranche from lending partner WTI to support working capital requirements.

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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