Calgary, Alberta--(Newsfile Corp. - April 29, 2024) - Eguana Technologies Inc. (TSXV: EGT) (OTCQB: EGTYF) ("Eguana" or the "Company"), a leading provider of high-performance energy storage systems, introduced the Eguana Edge™, at the Smart Energy Conference in Halifax, Nova Scotia.
The Eguana Edge™, a key element of the Eguana Cloud platform, is a utility feeder load balancer that provides Distribution System Operators (DSO’s) with a fleet of energy storage assets, which are managed in real time, to stabilize feeder loading and voltage quality. The Eguana Edge™ presents this fleet as a single asset for DERMS integration, to deliver system level ancillary services, including demand response, frequency regulation, and spinning reserve. Eguana is currently demonstrating Eguana Edge™, with utilities in Canada and the USA, on distressed feeder lines that require end-of-line voltage support or have a high penetration of solar.
"North American utility interest in the Eguana Edge™ is moving rapidly and we are excited to demonstrate its capabilities and savings to DSO's and utilities, as our rollouts expand," commented Brent Harris, Chief Operating Officer at Eguana. "We designed Eguana Edge™ in collaboration with several key utility partners, to deliver feeder balancing services on distribution grids, especially in rural areas where feeders experience the most stress and are also the most expensive to upgrade, with traditional infrastructure solutions. We look forward to promoting this product more broadly with utility leaders throughout the year, as we add more partners to our early deployment program."
Eguana Edge™ consists of a fleet of Eguana's industry leading energy storage solution products, combined with Eguana's fleet management software and operations and maintenance services. Eguana Edge™ can be deployed as a customer owned fleet, however, it delivers the highest value when deployed as a utility owned asset, offering resiliency to their customers, in exchange for hosting and accessing the systems.
About Eguana Technologies Inc.
Eguana's vision is to accelerate grid modernization and resilience, by delivering flexible, modular, and cost-effective alternatives to traditional grid upgrades. Our technology provides value to all key stakeholders - from the consumer, to the electricity retailer, the distribution utility, and the system operator.
Eguana Technologies connects utilities with consumers, through its high-performance commercial and residential energy storage solutions. Eguana's vertically integrated product suite has been designed from the ground up, with both the end user and the utility in mind, to transition the power grid seamlessly.
Manufactured in local facilities across the globe to ensure compliance and quality, Eguana's standardized platform allows the flexibility to ensure each product solution is optimized for use in major grid modernization markets.
Forward-Looking Statements The reader is advised that all information herein, other than statements of historical fact, may constitute forward-looking statements and forward-looking information (together, "forward- looking statements") within the meaning assigned by National Instrument 51-102 - Continuous Disclosure Obligations and other relevant securities legislation. In particular, forward-looking statements include, among other things, statements regarding the date or speed for the deployment of solutions with utilities, and its anticipated effects, the benefits associated with the aggregated storage systems and feeder load balancing, the effects of the Company's integrated cloud platform, and benefits to consumers and utilities, the success of marketing efforts, the success of product demonstrations, cash flow constraints, product solutions, strategy, and product development. Forward-Looking statements are 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. Such factors include, but are not limited to, risks associated with: failure by the Company to improve cash flow which would have a material adverse impact on the viability of the business to continue operating; timely collection of accounts receivable; ability to raise capital in debt or equity, as needed, on appropriate terms; unanticipated effects of the reduction to headcount; effective implementation and deployment of Eguana solutions and building additional partnerships and developing existing partnerships; general economic, market and business conditions; competitive factors; achieving strategic objectives; inability to or delays in sourcing materials; production delays or certification delays: the Company's ability to roll out additional utility pilot programs and demonstrations or deployment; the operational effectiveness and efficiency of the products when in use by utilities; a slower adoption of energy storage technologies and other factors set out in the "Risk Factors" section of the Company's management's discussion and analysis for the three and nine months ended September 30, 2023 and annual information form dated May 1, 2023, which may be found on its website or at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements 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.
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