|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.
"delaPlex is a software development company. We do team-based outsourcing development," explained Mark Rivers, COO and Co-founder of delaPlex Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 08:00 PM EDT Reads: 2,021
We all know the latest numbers: Gartner, Inc. forecasts that 6.4 billion connected things will be in use worldwide in 2016, up 30 percent from last year, and will reach 20.8 billion by 2020. We're rapidly approaching a data production of 40 zettabytes a day – more than we can every physically store, and exabytes and yottabytes are just around the corner. For many that’s a good sign, as data has been proven to equal money – IF it’s ingested, integrated, and analyzed fast enough. Without real-ti...
Jul. 27, 2016 07:30 PM EDT Reads: 1,077
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jul. 27, 2016 06:45 PM EDT Reads: 2,053
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…
Jul. 27, 2016 06:45 PM EDT Reads: 1,155
As companies gain momentum, the need to maintain high quality products can outstrip their development team’s bandwidth for QA. Building out a large QA team (whether in-house or outsourced) can slow down development and significantly increases costs. This eBook takes QA profiles from 5 companies who successfully scaled up production without building a large QA team and includes: What to consider when choosing CI/CD tools How culture and communication can make or break implementation
Jul. 27, 2016 06:00 PM EDT Reads: 1,677
Actian Corporation has announced the latest version of the Actian Vector in Hadoop (VectorH) database, generally available at the end of July. VectorH is based on the same query engine that powers Actian Vector, which recently doubled the TPC-H benchmark record for non-clustered systems at the 3000GB scale factor (see tpc.org/3323). The ability to easily ingest information from different data sources and rapidly develop queries to make better business decisions is becoming increasingly importan...
Jul. 27, 2016 05:45 PM EDT Reads: 868
Big Data, cloud, analytics, contextual information, wearable tech, sensors, mobility, and WebRTC: together, these advances have created a perfect storm of technologies that are disrupting and transforming classic communications models and ecosystems. In his session at @ThingsExpo, Erik Perotti, Senior Manager of New Ventures on Plantronics’ Innovation team, provided an overview of this technological shift, including associated business and consumer communications impacts, and opportunities it ...
Jul. 27, 2016 04:30 PM EDT Reads: 194
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Jul. 27, 2016 04:30 PM EDT Reads: 1,619
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.
Jul. 27, 2016 04:30 PM EDT Reads: 1,859
To leverage Continuous Delivery, enterprises must consider impacts that span functional silos, as well as applications that touch older, slower moving components. Managing the many dependencies can cause slowdowns. See how to achieve continuous delivery in the enterprise.
Jul. 27, 2016 04:18 PM EDT Reads: 218
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Jul. 27, 2016 04:15 PM EDT Reads: 1,127
"Software-defined storage is a big problem in this industry because so many people have different definitions as they see fit to use it," stated Peter McCallum, VP of Datacenter Solutions at FalconStor Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 27, 2016 04:00 PM EDT Reads: 1,523
Extracting business value from Internet of Things (IoT) data doesn’t happen overnight. There are several requirements that must be satisfied, including IoT device enablement, data analysis, real-time detection of complex events and automated orchestration of actions. Unfortunately, too many companies fall short in achieving their business goals by implementing incomplete solutions or not focusing on tangible use cases. In his general session at @ThingsExpo, Dave McCarthy, Director of Products...
Jul. 27, 2016 04:00 PM EDT Reads: 1,739
Is your aging software platform suffering from technical debt while the market changes and demands new solutions at a faster clip? It’s a bold move, but you might consider walking away from your core platform and starting fresh. ReadyTalk did exactly that. In his General Session at 19th Cloud Expo, Michael Chambliss, Head of Engineering at ReadyTalk, will discuss why and how ReadyTalk diverted from healthy revenue and over a decade of audio conferencing product development to start an innovati...
Jul. 27, 2016 04:00 PM EDT Reads: 1,056
WebRTC is bringing significant change to the communications landscape that will bridge the worlds of web and telephony, making the Internet the new standard for communications. Cloud9 took the road less traveled and used WebRTC to create a downloadable enterprise-grade communications platform that is changing the communication dynamic in the financial sector. In his session at @ThingsExpo, Leo Papadopoulos, CTO of Cloud9, discussed the importance of WebRTC and how it enables companies to focus...
Jul. 27, 2016 03:30 PM EDT Reads: 974