CALGARY, Alberta, Nov. 06, 2018 (GLOBE NEWSWIRE) -- Eguana Technologies Inc. (TSX.V: EGT) (OTCQB: EGTYF) is pleased to provide an update on sales and partner training activities as new and recurring orders continue to increase.
The Company has confirmed it has added an additional $2.5 million in sales orders commencing August, with approximately 80% represented by re-orders from existing customers. In addition, Eguana, through its standardized onboarding and web-based training platform, has trained and certified over 150 technicians, installers and distribution partners in the US and Australia.
“By standardizing our onboarding process and providing web-based training we are seeing a rapid expansion of Eguana certified partners and installers. Simplifying this process was critical to achieve 2019 growth objectives in our target markets,” commented Justin Holland, Eguana Technologies Chief Executive Officer. “With the order book approaching $6 million over the last 120 days, and over 25 new partner companies certified under the Eguana training program, we believe this growth trajectory will not only continue but will accelerate in the coming quarters.”
The Company has also confirmed product shipments relative to July orders began in September, with volume shipments expected to commence to Puerto Rico, Hawaii, and Australia in November and December.
In anticipation of the increased demand, the Company has received its final US$750,000 tranche from lending partner WTI to support working capital requirements.
About Eguana Technologies Inc.
Based in Calgary, Alberta Canada, Eguana Technologies Inc. (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
Company Inquiries
Justin Holland
CEO, Eguana Technologies Inc.
+1.416.728.7635
Justin.Holland@EguanaTech.com
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.