Eguana Tech: ONEnergy and LG Chem Announce Canadian and U.S. Distribution and Sales Agreement for Energy Storage Solutions

Eguana Technologies Inc. - $EGT:CA |


TORONTO, ONTARIO--(Marketwired - May 11, 2015) - ONEnergy Inc. ("ONEnergy" or the "Corporation") (TSX VENTURE:OEG)(TSX VENTURE:OEG.A) today announced an important sales and distribution agreement with LG Chem Inc. ("LG Chem") (KRX: 051910) whereby ONEnergy's Sunwave Energy Efficiency division ("Sunwave") will distribute and market LG Chem's state of the art lithium ion-based Energy Storage Systems ("ESS"). Sunwave will offer LG Chem's ESS products throughout Canada, and in the states of New York, Connecticut, New Jersey, Massachusetts, Pennsylvania and Ohio.

The advanced lithium-ion based energy storage systems developed by LG Chem will enable Sunwave to provide commercial & industrial and residential customers with scalable, flexible solutions to address multiple applications including demand charge management, peak shaving, off-peak energy storage, renewables integration, and emergency backup systems. Sunwave will provide customers with comprehensive technical and service support of the LG Chem ESS products including system design, installation and maintenance services. LG Chem Energy Storage Systems will be available from Sunwave for lease, rental and direct ownership in the third quarter of 2015.

"We are very pleased to be offering to our customers the advanced LG Chem Energy Storage System," stated Mark Lewis, CEO of ONEnergy. "LG Chem is a global leader in the rapidly expanding energy storage market, and this agreement allows Sunwave to bring LG Chem's advanced energy storage technology to our growing customer base in Canada and the United States."

"Sunwave's existing energy efficiency business coupled with its experience in installing and servicing related equipment provides an excellent platform to grow LG Chem's presence in the fast-emerging North American market for customer-sited energy storage," said Mr. Sunghoon Jang, Senior Vice President of LG Chem.

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