Eguana Joins Australian utility Virtual Power Plant Program

ADELAIDE, Australia, April 25, 2019 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) is pleased to announce that the Evolve has been approved to participate in the Simply Energy Simply Extra VPP program in South Australia, the first VPP to be announced since the Home Battery Scheme was launched in SA. Participation in the program provides the storage system owner with on-bill credits of up to $5,100 in exchange for providing Simply Energy with the right to operate the battery from time to time to deliver ancillary services to the AEMO, including frequency regulation and contingency reserve. Simply Energy is one of the largest electricity retailers in Australia with +600,000 rate payers, and further details on the program are available on the Simply Energy website.

Additional Australian Update
Initial volume deliveries of Evolve have also been completed to both of our national distribution partners BayWa and AC Solar Warehouse in late March making the Evolve available throughout the nation. Adoption by our growing dealer network is matching expectations with the first installations completed and repeat orders beginning to flow through distribution. AC Solar Warehouse immediately released an additional $250,000 order to backfill depleted inventory and provided guidance of increasing monthly release quantities in coming quarters. Future deliveries will be shipped from our newly established production facility in Wingfield, SA, to meet the rapidly growing Australian demand with a stable supply of product.

Eguana also made its second national tradeshow appearance at The Smart Energy Expo held in Sydney April 2-3^rd with the support of BayWa and AC Solar Warehouse, who were also exhibiting. The Company had the full Eguana suite of products on display with our new Australian team on board.  Founder and EVP Brent Harris presented Eguana’s Virtual Power Plant (VPP) experience in Hawaii and California highlighting the current VPP market opportunities in South Australia. The Elevate and Enduro products garnered increased attention as differentiated products in the residential and small commercial market segments ahead of planned launches later this year.

The Company will provide further updates as installations grow under the Home Battery Scheme, the Simply Energy VPP, and in other markets across Australia.

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 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 certified to AS4777 and is delivered from Eguana’s newest manufacturing facility in Wingfield, SA.

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 Australia, 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.

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.

Photos accompanying this announcement are available at

http://www.globenewswire.com/NewsRoom/AttachmentNg/2a38f0bb-4a26-4d92-9d0e-cab884bfffef

http://www.globenewswire.com/NewsRoom/AttachmentNg/968e8ae9-8cd1-4906-9dd6-1b44755348d8