Eguana Launches Cobalt-Free Residential Energy Storage System
CALGARY, Alberta, July 21, 2020 (GLOBE NEWSWIRE) — Eguana (TSX.V: EGT) (OTCQB: EGTYF) is pleased to announce it has expanded its Evolve residential product line with the introduction of the Evolve LFP energy storage system. The cobalt free lithium iron phosphate (“LFP”) based solution is immediately available to solar dealers and wholesale distributors in the United States and Caribbean markets as Eguana becomes the first home battery storage company to offer consumers in the market a choice in battery chemistry.
Eguana has responded to increasing market requests for a Cobalt free LFP based solution, adding greater sustainability in its product offerings. “Consumers are discerning and we continue to offer market leading choices” commented Eguana CEO Justin Holland. “Our advanced technology platform lends itself to easy integration with different battery chemistries and energy management software which, provides for a standardized price point for both the NMC (Nickel Manganese Cobalt) and LFP products. The development team also maintained all key product advantages including: expandable and modular battery capacity, remote diagnostics and analytics, and quick and simple installation.”Evolve LFP Key Features:Custom sizing – scalable from 14 to 42 kWh storage capacityDurability – 15-year, 6000+ cycle warrantyHigh performance – deep discharge use in daily cycle applicationsSafe and reliable chemistryNon-toxic & non-hazardous cobalt-free LFP chemistrySuperior thermal and chemical stability Incombustible and thermal runaway resistantVPP enabled“Eguana has positioned itself as the only global system integrator to offer its customers both LFP and NMC energy storage solutions. With over 200 Certified Eguana Partners in North America and Australia, the expanded product portfolio will open additional sales opportunities in key markets as we continue to expand the dealer network.” added Livio Filice, Director of Global Sales at Eguana. The Evolve LFP is currently certified in North America and will complete Australian certification this coming October. Based on early market feedback, the introduction of the LFP system will make Eguana’s Evolve the ideal solution for residential solar and electrical contractors.Evolve – Home Energy Storage SystemsEvolve LFP is a fully integrated residential energy storage system that includes the company’s proprietary power electronics system, industry leading low-voltage battery modules, comprehensive user interface, and industry-leading energy management capabilities.The system is rated at 5 kW AC output with a modular battery design based on a 3.5 kWh battery, which is scalable from 14 to 28 kWh in storage capacity. The NEMA 3R wall-mounted package is suitable for indoor and outdoor installations. The package is backed by a 10-year standard warranty.The Evolve LFP supports grid-connected solar self-consumption, time of use, and backup power. It is now available in the United States and in Caribbean markets, with certification to UL1741, California’s Rule 21, and Hawaii’s Rule 14H.Interested parties may contact:Eguana Technologies
Director of Global Sales
+1.905.929.7522About Eguana Technologies Inc.Based in Calgary, Alberta Canada, Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF) 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.With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services and demand charge applications at the grid edge.To learn more, visit www.EguanaTech.com or follow us on Twitter @EguanaTechForward Looking InformationThe 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.