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Maximo Solar and Eguana Technologies (TSX.V:EGT) (OTCQB:EGTYF) Complete Master Distributor Agreement for Eguana's Evolve Smart Energy Storage System in Puerto Rico

 

CALGARY, Alberta - July 26, 2018 (Investorideas.com Newswire) Eguana Technologies (TSX.V:EGT) (OTCQB:EGTYF) is pleased to appoint Maximo Solar (Maximo) as a Master Distributor in Puerto Rico for the Evolve - Home Energy Storage System. Evolve systems are immediately available through Maximo with first installations scheduled in September.

Maximo Solar is actively marketing the Evolve - Home Energy Storage System to both new and existing solar customers and converting customers from other energy storage systems with significantly longer lead times.

In 2017, Puerto Ricans experienced power outages caused by hurricanes that left entire urban regions without electricity for weeks and rural dwellers with no power for months. Traditional standby generators, which assume the availability of a fuel source, are not a reliable power source beyond short duration power outages. These factors are driving the demand for solar plus storage systems, which act as a low-cost, perpetual backup power source while offering various advanced energy management controls, an appealing user interface, and an extended warranty.

"Our customers demand top product solutions that are available today to serve their energy needs in the wake of the 2017 storms that took out the power grid in Puerto Rico," stated Maximo Torres, President of Maximo Solar. "Eguana's Evolve has been tested and endorsed by top companies. We are looking forward to delivering the Eguana's to our customers."

"We've set out to establish strong partners throughout the Caribbean to open essential markets for Eguana energy storage systems," said Livio Filice, Director of Residential Sales, North America. "This is a significant step forward in the company's sales strategy and we are thrilled to be working with Maximo, a highly established and competent organization with deep roots in local markets."

"It was important not to simply rush into the Puerto Rican market for promotional purposes and to understand how the market place would change as grid 2.0 was being developed in Puerto Rico, and how the people's energy needs would be served," added Justin Holland, Eguana CEO. "Maximo has demonstrated a long-standing commitment in the region to deliver solutions and we are looking forward to being part of the growing change with them."

Maximo Solar is scheduled to become an Eguana-certified installer in September 2018, with initial installations commencing in the same time frame. A container shipment of Evolve systems will be delivered to Maximo Solar over the next 60 days. Evolve energy storage systems will continue to be deployed throughout the balance of this year.

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 Residential Sales, North America
Livio.Filice@EguanaTech.com
+1.905.929.7522

About Maximo Solar

Maximo Solar Industries is an innovative company that is passionate about helping customers achieve renewable energy and contribute to the present and future generations. We are vertically integrated from sales to service which work variations of grid tie, grid tie with backup and off grid configurations. We designed and manufactured our own battery cabinets and PV racking systems.

About Eguana Technologies Inc.

Based in Calgary, Alberta Canada, Eguana Technologies (TSX.V:EGT) (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.


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