Home Energy Storage Maker Appoints Puerto Rico Distributor

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Source: Streetwise Reports   07/26/2018

Company moves into market with energy grid destroyed by hurricanes.

Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) announced in a July 26 press release the appointment of Maximo Solar as a Master Distributor in Puerto Rico for the Evolve – Home Energy Storage System.

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, said a company noted in the release.

In 2017, Puerto Ricans experienced power outages caused by Hurricanes Irma and Maria that left entire urban regions without electricity for weeks and rural dwellers with no power for months.

Traditional standby generators that assume the availability of a fuel source are not a reliable power source except for short duration power outages, factors that drive demand for solar plus storage systems. The systems act as a low-cost, perpetual backup power source while providing for various advanced energy management control systems, an appealing user interface, and an extended warranty, said the press release.

"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," said 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 [Evolve] to our customers."

According to the company,Maximo Solar Industries is an innovative company that is passionate about helping customers achieve renewable energy and contribute to present and future generations.

"We've set out to establish strong partners throughout the Caribbean to open essential markets for Eguana energy storage systems," said Livio Filice, Eguana's director of residential sales for 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."

Based in Calgary, Canada, Eguana Technologies designs and builds 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, according to the company.

"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."

According to Eguana, 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.

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.

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Disclosure:
1) John McPhaul compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
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( Companies Mentioned: EGT:TSX.V; EGTYF:OTCQB, )

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