10kW Evolve Final Certification Scheduled, Eguana Prepares for First Production

CALGARY, Alberta, May 12, 2021 (GLOBE NEWSWIRE) -- Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF) is pleased to announce its 10kW Evolve product has completed construction review and is proceeding to final system certification ahead of schedule. This critical milestone allows the Company to begin procuring materials for first production units planned in July and customer shipments through the summer.

The 10kw Evolve provides homeowners with an integrated, heavy-duty, home battery, with twice the power and storage capacity of leading competitors, giving homeowners longer duration back up power modes. In addition, it will perform an important role in virtual power plant (“VPP”) infrastructure builds given its increased power and expandable storage capacity.

“Customer preferences in the US continue to rapidly shift towards larger systems with expandable storage capacity options to serve both VPP and Whole Home back up markets,” commented Eguana Chief Executive Justin Holland. “Our platform design continues to demonstrate its edge in rapid product development for a market that is constantly changing. Procurement has commenced for 10kW production with first commercial units available in July.”

About Eguana Technologies Inc.

Based in Calgary, Alberta Canada, Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF) designs and manufactures 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 from its high capacity manufacturing facilities in Europe, Australia and North America.

With thousands of its proprietary energy storage inverters deployed, Eguana is one of the leading suppliers of energy storage systems for solar self-consumption, grid services and demand charge applications at the grid edge.

To learn more, visit www.EguanaTech.com or follow us on Twitter @EguanaTech

Company Inquiries

Justin Holland

CEO, Eguana Technologies Inc.

+1.416.728.7635

[email protected]

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 pertaining to the value of our power controls to the energy storage market and statements concerning the use of proceeds and the Company's ability to obtain necessary approvals from the TSX Venture Exchange.

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 most recent audited Financial Statements which may be found on its website or at sedar.com. 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.

Source: Eguana Technologies Inc.

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