Calgary, Alberta--(Newsfile Corp. - April 15, 2025) - Eguana Technologies Inc. (TSXV: EGT) ("Eguana" or the "Company", a leading provider of high-performance energy storage systems, is pleased to update that its targeted feeder program, to strengthen the local electricity grid in British Columbia, has surpassed half a megawatt of shipped Eguana Evolve systems in twelve weeks. Each installed system delivers monthly recurring revenue to the Company for system level and fleet management services provided by the Eguana Hardware (Evolve) and Cloud (Exchange/Edge) platforms.
The exclusive program, where advanced batteries are funded by the utility to strengthen two targeted feeders, is operated as part of the utility's Demand Response program, which reduces the cost of procuring peak power by managing behind-the-meter devices. Battery charge and discharge functions are fully managed through Eguana's Exchange Fleet Control software by the Distributed Energy Resource Management System (DERMS) software partner running the utility demand response program. This project shows how distributed storage delivers multiple value streams, enabling utilities to maximize current grid infrastructure while deferring large capital deployments, improving customer resiliency, and avoiding expensive purchases of peaking power.
"Our partners worked diligently to remove a few remaining administrative hurdles through December and January and the program has been continuously picking up pace since," commented Eguana CEO Justin Holland. "We have crossed the half megawatt line, or over 50% of the program, with installations being completed daily along with commissioning and DERMS engagement. We expect to see continued growth balance of program with the full megawatt to be shipped and installed by the spring of this year."
The Company also confirmed it has recently completed fleet aggregated demand response testing with a utility retailer in California, is in the final planning stages for a late summer roll out in its home province of Alberta to manage a targeted constrained feeder, and was invited to participate a request for proposal (RFP) process with a large Ontario utility, which is expected to be awarded later this year. These near-term objectives are in addition to ongoing utility demonstrations in Vermont, Oregon, and Nova Scotia.
"We can certainly feel a change in the air as more utilities move towards advanced batteries, integrated with DERMS and ADMS (Advanced Distribution Management System) platforms, to manage near term capacity and demand peak constraints on the grid" Holland added.
About Eguana Technologies Inc.
Eguana's vision is to build the grid of the future 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.
Since 1998, Eguana Technologies has connected utilities with consumers through its high-performance commercial and residential energy storage solutions. The Eguana 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.
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 various benefits associated with the VPP aggregated storage systems, fleet management and feeder load balancing, the effects of the Company's integrated cloud platform, successful integration with DERMS and benefits to consumers and utilities, the success of marketing efforts, the anticipated benefits of the contract with the utility partner and that the Company will be able to fulfil its obligations under the contract, that the Company's grid transition partners will recognize the benefit of Eguana's hardware and software development in North America, the success of product demonstrations, cash flow constraints, and product solutions, strategy and 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; effective implementation and deployment of Eguana's products and 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 six months ended June 30, 2024 and Company's management's discussion and analysis for the year ended December 31, 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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