CALGARY, Alberta, Oct. 05, 2023 (GLOBE NEWSWIRE) -- Eguana Technologies Inc. ("Eguana" or the "Company") (TSX.V: EGT) (OTCQB: EGTYF), is excited to announce the launch of its Essential Whole Home energy storage system ("ESS"), specifically designed for North American mid-sized homes.

Adding to Eguana's existing portfolio of products and solutions, the Essential Whole Home is an economical option for homes with existing 100-amp service panels and comes with simplified installation and remote commissioning processes, delivering installer efficiency and improved homeowner experience.

Production of the Essential Whole Home began in September, with initial deliveries planned for Puerto Rico in the coming months. Battery attachment rates are expected to increase significantly in the Puerto Rican market with the US Department of Energy's Puerto Rico Energy Resilience Funding. The funding, which anticipates 30,000-40,000 residential installations, was previously announced in July 2023.

"We designed the Essential Whole Home system to further simplify the installation and commissioning processes by removing backup panel installation requirements. The Essential Whole Home eliminates the need to install previously required dedicated load panels, which will save homeowners thousands of dollars in equipment and installation costs," commented Daljit Ghotra, Chief Technology Officer at Eguana. "Perfect for whole home and partial home backup and storage applications, this product delivers simplified and repeatable installations, which is key to our installation partners."

About Eguana Technologies Inc.

Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF) is a global designer and manufacturer of 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 systems deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services, and demand charge applications at the grid edge.

Company Inquiries

Eguana Technologies Inc.
Justin Holland
CEO
+1.416.728.7635
Justin.Holland@EguanaTech.com

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Forward Looking Information

The reader is advised that some of the information herein may constitute forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning assigned by National Instrument 51-102 – Continuous Disclosure Obligations and other relevant securities legislation. In particular, we include, among other things: the Company's ability to obtain necessary approvals from the TSXV and the issuance of the Common Shares.

Forward-looking statements are 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. Such factors include, but are not limited to, risks associated with: failure to obtain necessary regulatory approvals, general economic, market and business conditions, the operations of Eguana's assets, competitive factors, achieving the strategic objectives, future financial results and liquidity, ability to fund operations or obtain financing with debt or equity, and other factors set out in the "Risk Factors" section of the Company's most recent management's discussion and analysis for the three and six months ended June 30, 2023, which may be found on its website or at sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements 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.

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