2016-04-29 09:55 ET - News Release
Mr. Justin Holland reports
EGUANA REPORTS SIGNIFICANT ORDER INCREASE AS E-GEAR EXPANDS CHANNELS IN HAWAII AND CALIFORNIA
Eguana Technologies Inc. has received its third consecutive increasing order for its AC battery from partner E-Gear LLC as the Hawaiian market continues to expand. E-Gear/AC Battery applications now include utility owned, customer owned, and third party owned storage systems. Planned expansion into mainland markets has also begun with first sales into California although near term primary focus will remain in the expanding Hawaiian market. Along with the utility grid service demand the Companies are seeing increased adoption in homes for new solar installations and retrofits to accommodate electric vehicle off-grid charging.
"Adoption of E-Gear's solution is a great validation of the work they have put into developing this product over the past couple of years," said Brent Harris, CTO of Eguana Technologies. "It is the right product at the right time for Hawaii and with the new NEM standards in place and clarity over the new grid supply and self supply programs, attachment rates of storage plus solar are increasing steadily."
"We have worked hard to ensure that our solution has the flexibility to cover a wide range of needs in the Hawaiian market, and we are delivering application specific variants of our product to meet those specific needs," said Jay N. Zarghami, Product Development Engineer at E-Gear LLC. "This investment has proven valuable as we adapt our offering to meet the requirements of California customers and in other jurisdictions across North America."
We seek Safe Harbor.