Welcome!

News Feed Item

Eguana Files Interim 6 Month Financial Statements & Provides Update

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.

Highlights


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.

To learn more, visit www.EguanaTech.com or follow us on Twitter, https://twitter.com/EguanaTech.

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 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
There is little doubt that Big Data solutions will have an increasing role in the Enterprise IT mainstream over time. Big Data at Cloud Expo - to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA - has announced its Call for Papers is open. Cloud computing is being adopted in one form or another by 94% of enterprises today. Tens of billions of new devices are being connected to The Internet of Things. And Big Data is driving this bus. An exponential increase is...
DevOps at Cloud Expo, taking place Nov 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 19th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long dev...
Digital innovation is the next big wave of business transformation based on digital technologies of which IoT and Big Data are key components, For example: Business boundary innovation is a challenge to excavate third-party business value using IoT and BigData, like Nest Business structure innovation may propose re-building business structure from scratch, as Uber does in the taxicab industry The social model innovation is also a big challenge to the new social architecture with the design fr...
Data is an unusual currency; it is not restricted by the same transactional limitations as money or people. In fact, the more that you leverage your data across multiple business use cases, the more valuable it becomes to the organization. And the same can be said about the organization’s analytics. In his session at 19th Cloud Expo, Bill Schmarzo, CTO for the Big Data Practice at EMC, will introduce a methodology for capturing, enriching and sharing data (and analytics) across the organizati...
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the protocols that communicate data and the emerging data analy...
The vision of a connected smart home is becoming reality with the application of integrated wireless technologies in devices and appliances. The use of standardized and TCP/IP networked wireless technologies in line-powered and battery operated sensors and controls has led to the adoption of radios in the 2.4GHz band, including Wi-Fi, BT/BLE and 802.15.4 applied ZigBee and Thread. This is driving the need for robust wireless coexistence for multiple radios to ensure throughput performance and th...
I’m going to cry tonight, long and hard. I’ll do so as I remember and mourn Jeremy Geelan. I knew Jeremy for almost 20 years, from the time he showed up one day at Cloud Expo’s headquarters in Bergen County, New Jersey, and went to work. The show wasn’t called Cloud Expo then, of course – it was still known as Java Edge, a pioneering event that grabbed developers, architects, and enterprise IT users alike for twice-yearly confabs. Jeremy didn’t have a job there, or even a job offer. He was s...
SYS-CON Events announced today that China Unicom will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. China United Network Communications Group Co. Ltd ("China Unicom") was officially established in 2009 on the basis of the merger of former China Netcom and former China Unicom. China Unicom mainly operates a full range of telecommunications services including mobile broadband (GSM, WCDMA, LTE F...
The Transparent Cloud-computing Consortium (abbreviation: T-Cloud Consortium) will conduct research activities into changes in the computing model as a result of collaboration between "device" and "cloud" and the creation of new value and markets through organic data processing High speed and high quality networks, and dramatic improvements in computer processing capabilities, have greatly changed the nature of applications and made the storing and processing of data on the network commonplace.
Video experiences should be unique and exciting! But that doesn’t mean you need to patch all the pieces yourself. Users demand rich and engaging experiences and new ways to connect with you. But creating robust video applications at scale can be complicated, time-consuming and expensive. In his session at @ThingsExpo, Zohar Babin, Vice President of Platform, Ecosystem and Community at Kaltura, will discuss how VPaaS enables you to move fast, creating scalable video experiences that reach your...
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 captu...
All clouds are not equal. To succeed in a DevOps context, organizations should plan to develop/deploy apps across a choice of on-premise and public clouds simultaneously depending on the business needs. This is where the concept of the Lean Cloud comes in - resting on the idea that you often need to relocate your app modules over their life cycles for both innovation and operational efficiency in the cloud. In his session at @DevOpsSummit at19th Cloud Expo, Valentin (Val) Bercovici, CTO of So...