|By Marketwired .||
|June 2, 2014 08:45 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 06/02/14 -- Eguana Technologies Inc (TSX VENTURE: EGT), ("Eguana" or the Company") a leading supplier of high performance power management for "edge of grid energy storage applications has filed its Interim Consolidated Financial Statements for the six month period ending May 31, 2014, along with Management's Discussion and Analysis thereof. The Consolidated Financial Statements and the Management Discussion and Analysis thereof are available on SEDAR at www.sedar.com and on the Company's website at www.eguanatech.com.
1. Unit demand forecasts in Europe are up sharply beginning in July of this year. Firm orders under the Company's Supply Contract with Sonnenbatterie GmbH ("Sonnenbatterie") will increase Eguana revenues to approximately $1 million per month by mid-summer. 2. Revenues for Q2 (March 31, 2014) were $396,357, down slightly from Q1, due to variability in demand mix which is to be expected in an emerging market. Unit volumes are up for the current Quarter, and revenues for Q3 (June 30, 2014) will be more than double Q2 revenues at an estimated $1 million. 3. Eguana's high volume manufacturing line with TQS in Durach, Germany is now in production with a capacity to produce 1,000 units per month. This capacity is incremental to the 1,000 unit per month production capacity at the Calgary plant and is adequate to meet forecast demand for the balance of the year. Working capital needed to ramp production to higher production levels is minimal. 4. Eguana continues to record design wins with multiple battery companies demonstrating Bi-Direx' value as a "universal" platform to allow next generation technologies to access the higher growth "edge of grid" storage markets. The design wins are expected to convert to commercial revenues from sources in Japan and the US during the second half of this year and into 2015. 5. Under an announced letter of intent with Sonnenbatterie, Eguana will move from supplying a power electronics sub-assembly to supplying a higher value integrated power management module that will accommodate a wide range of battery options. This change will increase revenues and margins per unit to Eguana and is targeted to become effective in Q1 2015 (CY - Q4). 6. Under the same letter of intent, Sonnenbatterie Eguana will supply power management modules to Sonnenbatterie exclusively for the US residential market. Sonnenbatterie has already secured first US purchase orders for Eguana powered energy storage systems and the Company has visibility on revenues from other sources in the US later in this year and into 2015.
Michael Carten, CEO of Eguana commented: "The potential for solar + storage, especially in the distributed or 'edge of grid' market is exceptional. Driven by fundamental change in the cost structure of solar electricity, solar + storage is beginning to offer a competitive cost alternative conventional grid supplied electricity. So significant is this change that Barclay's recently (May 20, 2014) downgraded the entire electric sector of the U.S. high-grade corporate bond market based on what it sees as long-term challenges from solar + storage over the coming decade. See: http://blogs.barrons.com/incomeinvesting/2014/05/23/barclays-downgrades-electric-utility-bonds-sees-viable-solar-competition/
"Eguana's value proposition in this segment of the market is to enable system integrators and suppliers of integrated product solutions to optimize next generation battery technologies in the lower power ratings which are needed to achieve the scalability and redundancy needed by this market at a much lower cost and with much higher efficiencies than conventional inverters.
"Eguana has designed its platform for "universality" so that customers can achieve and maintain cost leadership by easily moving to the optimum battery for the application without changing their basic power management control strategies. Multiple design wins in the past six months are demonstrating that Eguana's technology is raising the power electronics bar for next generation batteries in this market."
About EGUANA TECHNOLGIES, INC:
Headquartered in Calgary, Alberta, Canada, Eguana Technologies Inc. designs and manufactures intelligent high performance low-voltage power electronics platforms for distributed smart grid and energy storage applications. Eguana's software configurable platform enables energy storage systems to optimize the lower cost, modularity and safety advantages of low voltage advanced battery technologies at a much lower cost, and with greater design flexibility than is possible with conventional power electronics solutions.
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 concerning revenues for Q3 and revenues expected to be earned this summer; statements concerning the features of our energy storage inverter and its value for energy storage system, statements concerning the potential for securing commercial relationships with battery manufacturer; statements concerning the potential for energy storage in global markets; and statements concerning the potential for new business in the US and Japan.
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 Management Discussion and Analysis related to its 2013 Annual Financial Statements. 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.
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 20, 2017 05:00 AM EST Reads: 2,470
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
Jan. 20, 2017 04:00 AM EST Reads: 3,932
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Jan. 20, 2017 03:00 AM EST Reads: 842
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Jan. 20, 2017 02:30 AM EST Reads: 5,018
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
Jan. 20, 2017 02:15 AM EST Reads: 6,046
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
Jan. 20, 2017 02:00 AM EST Reads: 3,639
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
Jan. 20, 2017 02:00 AM EST Reads: 6,572
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jan. 20, 2017 02:00 AM EST Reads: 5,327
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
Jan. 20, 2017 01:45 AM EST Reads: 4,265
"Splunk basically takes machine data and we make it usable, valuable and accessible for everyone. The way that plays in DevOps is - we need to make data-driven decisions to delivering applications," explained Andi Mann, Chief Technology Advocate at Splunk and @DevOpsSummit Conference Chair, in this SYS-CON.tv interview at @DevOpsSummit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 20, 2017 01:15 AM EST Reads: 2,144
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
Jan. 20, 2017 01:15 AM EST Reads: 1,353
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captur...
Jan. 20, 2017 12:45 AM EST Reads: 2,876
Who are you? How do you introduce yourself? Do you use a name, or do you greet a friend by the last four digits of his social security number? Assuming you don’t, why are we content to associate our identity with 10 random digits assigned by our phone company? Identity is an issue that affects everyone, but as individuals we don’t spend a lot of time thinking about it. In his session at @ThingsExpo, Ben Klang, Founder & President of Mojo Lingo, discussed the impact of technology on identity. Sho...
Jan. 20, 2017 12:45 AM EST Reads: 4,114
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Jan. 20, 2017 12:45 AM EST Reads: 2,845
A critical component of any IoT project is what to do with all the data being generated. This data needs to be captured, processed, structured, and stored in a way to facilitate different kinds of queries. Traditional data warehouse and analytical systems are mature technologies that can be used to handle certain kinds of queries, but they are not always well suited to many problems, particularly when there is a need for real-time insights.
Jan. 20, 2017 12:00 AM EST Reads: 6,340