Monday, January 20, 2020 9:21:37 PM
NEWS!
Eguana Enters into Development Contract for Residential Energy Storage Systems
CALGARY, Alberta, Jan. 20, 2020 (GLOBE NEWSWIRE) -- Eguana Technologies Inc. (TSX-V: EGT)(OTCQB: EGTYF) is pleased to announce that it has entered into a development contract with a leading renewable energy company, with significant investments throughout the energy storage supply chain, to develop and certify proprietary residential storage systems for distribution through its sales channels across global markets.
“The team is excited to integrate a leading energy storage software solution with our Evolve platform for major markets including the United States and Australia,” commented Justin Holland, CEO at Eguana Technologies. “The Company has maintained fleet aggregation and virtual power plants will drive substantial growth in all residential markets, this new initiative will deliver certified products perfectly positioning Eguana into both of those segments. Work has commenced, and we expect to begin prototype testing by the end of March 2020.”
"We were awarded this development contract in recognition of the advanced control and integration capabilities that have been built into our energy storage platform," said Brent Harris, Founder and Executive VP at Eguana. "There is no other product on the market that can be integrated so quickly and comprehensively into third party energy management systems and our experienced team supports our partners to ensure top performance for the partner's application."
The Company has confirmed the contract value of +$1 million and has received upfront payments of over $750,000 with the balance due upon successful product certification. The partner will distribute and sell the new product solution through their channels.
The identity of the partner and subsidiary company cannot be released at this time in order to maintain confidentiality and for competitive reasons.
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM