Eguana Reports $2.4 million in New US Orders

CALGARY, Alberta, May 05, 2020 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) is pleased to announce $2.4 million in new orders, predominantly for Hawaii and California, which are expected to ship over the next 2-3 months.

The Company has confirmed Evolve manufacturing and shipments continued throughout the COVID-19 pandemic, albeit at a slower pace, as a result of minor disruptions in its supply chain throughout February. In Hawaii, Evolve installations continued on schedule throughout February and March and are expected to increase through June as a result of the new orders.

"The team has done a tremendous job managing our supply chain and servicing our customers through a very difficult and challenging time," commented Eguana CEO Justin Holland. "Their efforts have resulted in a 26% increase in the number of systems shipped in the first half of the fiscal year compared to the entire fiscal 2019."

The Company has also expanded its relationship with CED Greentech branches throughout Southern California which now include: San Diego, Riverside, Ventura, Los Angeles, Orange County, and Coachella Valley. Over the next 90 days, Eguana will launch its Evolve into Northern California with a focus on regions that were heavily impacted by the forest fires.

"Installers are attracted to Evolve's fully-integrated energy storage system because it's easy and safe to install and can easily be connected to both new and existing solar PV installations at an industry leading price-point," added Livio Filice, Director of Global Sales at Eguana. "2020 is already shaping up to be a record year for Eguana in North America as we continue to grow our solar dealer and solar wholesale distributor network. Eguana's fully integrated design approach allows solar PV installers to efficiently enter the energy storage market."

Evolve ? Home Energy Storage Systems

Evolve is a fully-integrated residential energy storage system that includes the company's proprietary power electronics system, LG Chem low-voltage battery modules, and a comprehensive user interface. The system is rated at 5KW AC output with a modular battery design based on a 6.5 kWh battery, which is scalable from 13 to 39kWh 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 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 standards matching UL1741, California's Rule 21, and Hawaii's Rule 14H.

Interested parties may contact:

Eguana Technologies
Livio Filice
Director of Global Sales
[email protected]
+1.905.929.7522

About 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 @EguanaTech.

Forward Looking Information

The 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.

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