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Eguana Provides Business and Financial Updates

Eguana Provides Business and Financial Updates

Eguana 提供業務和財務最新信息
newsfile ·  02/08 08:52

Calgary, Alberta--(Newsfile Corp. - February 7, 2024) - Eguana Technologies Inc. (TSXV: EGT) (OTCQB: EGTYF) ("Eguana" or the "Company"), a leading developer and manufacturer of high-performance energy storage systems, is pleased to provide various business and financial updates.

艾伯塔省卡爾加里--(Newsfile Corp.-2024 年 2 月 7 日)- Eguana 科技公司 (TSXV: EGT) (OTCQB: EGTYF) (”Eguana“或者”公司“)是高性能儲能系統的領先開發商和製造商,很高興提供各種業務和財務更新。

Financial Update

財務更新

The Company continues to take prudent action towards navigating a softer than expected renewable energy sector, which has underperformed due to decreased consumer spending related to inflation, high-interest rates, and increased dealer fees. In North America, renewable markets are drastically lower than forecast, and the timing of market recovery is forecasted for the second half of 2024.

該公司繼續採取謹慎行動,以應對比預期疲軟的可再生能源行業。由於與通貨膨脹相關的消費者支出減少、高利率和經銷商費用增加,該行業表現不佳。在北美,可再生能源市場大大低於預期,預計市場復甦的時機將在2024年下半年。

In response, the Company furloughed staff in North America before the December Holiday break, with most staff on leave through January and February, and transferred certain personnel into sales positions within our USA sales channel partner. As previously outlined, the Company also rationalized staff in October 2023, with a global headcount reduction of approximately 22 percent. Associated savings related to the North American business, are projected at approximately $2.1M for 2024. Operations in Europe and Australia, where market conditions are significantly better than North America, remain unaffected by the furlough. With functional areas restructured and a priority focus on near-term opportunities, management does not anticipate any near or mid-term impact on operational objectives.

作爲回應,公司在12月假期前將北美的員工休假,大多數員工休假至1月和2月,並將某些人員調到我們的美國銷售渠道合作伙伴的銷售職位。如前所述,公司還在2023年10月對員工進行了合理調整,全球裁員約22%。預計到2024年,與北美業務相關的節省約210萬美元。歐洲和澳大利亞的業務仍未受到休假的影響,那裏的市場狀況明顯好於北美。隨着職能領域的重組和將近期機會作爲優先重點,管理層預計不會對運營目標產生任何近期或中期影響。

To continue managing short term liquidity risk, the Company successfully negotiated the return of obsolete and/or unusable inventory components (the "Inventory Return") to a major supply partner. The two parties have entered into an agreement whereby the Inventory Return would result in cash payments to Eguana at full landed cost. Based on the agreement, Eguana expects the total Inventory Return to yield approximately $5.0M in value, including approximately $3.8M in cash and approximately $1.2M of credits against the Company's outstanding accounts payable to the supply partner. Shipping arrangements have been confirmed and payment is expected in March 2024.

爲了繼續管理短期流動性風險,公司成功通過談判將過時和/或不可用的庫存組件(“庫存退貨”)退還給主要供應夥伴。雙方已達成協議,根據該協議,庫存退貨將導致以全額到岸成本向Eguana支付現金。根據該協議,Eguana預計,總庫存回報率將產生約500萬美元的價值,其中包括約380萬美元的現金和約120萬美元的公司應付給供應夥伴的未清賬款的貸項。運輸安排已得到確認,預計將在2024年3月付款。

With 2024 component inventory in a strong position, and to match market conditions, Eguana can also reduce further inventory investments in the near term and will benefit from lower component pricing going forward driving expected gross margin improvements to meet 2024 objectives.

隨着2024年的零部件庫存處於強勢地位,爲了與市場條件相匹配,Eguana還可以在短期內減少進一步的庫存投資,並將受益於未來組件價格的降低,推動預期的毛利率提高,以實現2024年的目標。

As reported in the Company's financial statements for the period ended September 30, 2023, ongoing delays in accounts receivable collections from a major customer have negatively impacted short-term liquidity. Management continues to work closely with the key customer and has negotiated various offsets that will reduce the receivables balance in exchange for raw materials and finished goods inventory, future manufacturing credits, and a fixed payment schedule, with formalized security rights. The fixed payment schedule is expected to provide a consistent flow of funds to Eguana to fund operating expenses while providing a security interest over the assets held by the customer.

正如公司截至2023年9月30日的財務報表所報告的那樣,主要客戶收取應收賬款的持續延遲對短期流動性產生了負面影響。管理層繼續與主要客戶密切合作,並就各種抵消進行了談判,這些抵消將減少應收款餘額,以換取原材料和製成品庫存、未來的製造信貸和固定的付款時間表,以及正式的擔保權。預計固定付款時間表將爲Eguana提供穩定的資金流,爲運營費用提供資金,同時爲客戶持有的資產提供擔保權益。

These trade-offs have been carefully considered and given the nature of the industry, long-term potential with the key customer, and a defined payment schedule, Management felt the cooperation was beneficial to both parties and will deliver additional margin opportunity for Eguana in 2024.

這些權衡已經過仔細考慮,考慮到行業的性質、主要客戶的長期潛力以及明確的付款時間表,管理層認爲合作對雙方都有利,並將在2024年爲Eguana帶來額外的利潤機會。

With market recovery anticipated in mid-2024, near-term liquidity will remain a key priority for Eguana. This may cause delays in future product development and enhancement initiatives, the return to work for staff, and regular cash payments to vendors.

預計市場將在2024年中期復甦,短期流動性仍將是Eguana的關鍵優先事項。這可能會導致未來的產品開發和改進計劃延遲、員工重返工作崗位以及定期向供應商支付現金款項。

Debt Amendments

債務修正案

The Company has reached an agreement in principle with its secured lenders under its existing long-term debt (the "Senior Loan"), to make interest only payments for December 2023, January 2024 and February 2024 and to delay the March 2024 payment.

該公司已根據其現有長期債務(“優先貸款”)與其有擔保貸款機構原則上達成協議,僅支付2023年12月、2024年1月和2024年2月的利息,並推遲2024年3月的付款。

The Company intends to enter into a formal amendment to the original loan agreement, wherein the monthly payments will be reduced and comprised of interest only for three months commencing December 1, 2023, and whereby these payments amounts were delayed. The interest payments due on December 1, 2023 and January 1, 2024 were deferred and paid in early January. The interest payment due on February 1, 2024, will be deferred to February 15th. The regular payment due on March 1, 2024, will be delayed to the end of March. The Senior Loan continues to bear interest at a rate of 12% per annum.

該公司打算對原始貸款協議進行正式修訂,根據該修正案,每月還款額將減少,僅包括自2023年12月1日起的三個月的利息,因此這些還款金額被推遲。2023年12月1日和2024年1月1日到期的利息已延期付款,並於1月初支付。2024年2月1日到期的利息將推遲到2月15日。2024年3月1日到期的定期付款將推遲到3月底。優先貸款繼續以每年12%的利率計息。

Further, the Company has reached an agreement to defer the upcoming cash interest payment on its unsecured Convertible Debenture, originally due on March 1, 2024, to August 31, 2024.

此外,公司已達成協議,將原定於2024年3月1日到期的無抵押可轉換債券即將到期的現金利息支付推遲至2024年8月31日。

When completed, copies of the amendments will be posted on the Company's SEDAR+ profile at .

完成後,修正案的副本將發佈在公司的SEDAR+個人資料上,網址爲。

"Our lenders continue to be supportive, which has given us access to short-term liquidity," said Justin Holland, Chief Executive Officer. "The short-term flexibility has opened up pathways to achieve a multi quarter runway as we continue executing our strategy to improve the balance sheet and realize sales, through our virtual power plant rollouts, and with our various utility and financing partners."

首席執行官賈斯汀·霍蘭德表示:“我們的貸款機構繼續提供支持,這使我們能夠獲得短期流動性。”“短期靈活性爲實現多季度發展開闢了道路,因爲我們將繼續通過虛擬發電廠的推出以及與各種公用事業和融資合作伙伴一起執行改善資產負債表和實現銷售的戰略。”

Private Placement

私募配售

Given the business and financial updates provided above, the Company decided to close the offering of units of the Company ("Units") for gross proceeds of up to $2 million (the "Offering") and will review future working capital needs, at a later date. In connection with the Offering, the Company issued 11,300,000 Units for aggregate gross proceeds of $452,000 and paid no finder's fees. Further information on the Offering can be found in the Company's news releases dated November 23 and December 8, 2023.

鑑於上述業務和財務最新情況,公司決定結束公司單位的發行(”單位“)總收益不超過200萬美元(”提供“)並將稍後審查未來的營運資金需求。在本次發行中,公司發行了11,300,000個單位,總收益爲45.2萬美元,並且沒有支付任何發現費。有關本次發行的更多信息可以在公司2023年11月23日和12月8日的新聞稿中找到。

Business Update

業務更新

The Company is anticipating overall market recovery through the second half of 2024, as the impact of interest rates and consumer access to capital continues to stabilize. During the previous two quarters, Eguana has been successful in locking in key partnerships in various markets, including the United States, Canada, Australia, and Germany. Importantly, the Company has focused on partnerships that offer financial support to homeowners and utility driven virtual power plant ("VPP") opportunities, which simplify the selling process to the end user.

隨着利率和消費者獲得資本的影響持續穩定,該公司預計,到2024年下半年,整體市場將復甦。在過去的兩個季度中,Eguana成功地鎖定了包括美國、加拿大、澳大利亞和德國在內的各個市場的重要合作伙伴關係。重要的是,該公司一直專注於爲房主提供財務支持的合作伙伴關係和公用事業驅動的虛擬發電廠(“VPP”)機會,從而簡化向最終用戶的銷售流程。

The Eguana hardware platform was designed to deliver a full suite of VPP grid capability and is fully integrated with the Eguana Cloud, a software platform designed to manage fleets of energy storage systems. to optimize utility operation of the power grid. With both platforms complete, the Company now offers utilities and grid operators full VPP program management capability, and opens software driven recurring revenue streams.

Eguana硬件平台旨在提供全套VPP電網功能,並與Eguana Cloud完全集成,Eguana Cloud是一個旨在管理儲能系統機隊的軟件平台。以優化電網的公用事業運營。兩個平台都完成後,該公司現在爲公用事業和電網運營商提供了完整的VPP項目管理能力,並開闢了軟件驅動的經常性收入來源。

In the North American market, Eguana continues to expand its utility and DERMS (Distributed Energy Resource Management System) partners, in addition to its partnership with Duracell Power Center. The Company believes utility driven VPPs will shift the renewables focus from rooftop solar to fully integrated energy storage, given the wide array of benefits for both the consumer and the utility. Currently the Company is enrolled in six VPPs spanning 20 utilities, with additional utility pilot programs planned for 2024.

在北美市場,除了與金霸王的合作伙伴關係外,Eguana還繼續擴大其公用事業和DERMS(分佈式能源資源管理系統)合作伙伴 電力中心。該公司認爲,鑑於對消費者和公用事業都有廣泛的好處,公用事業驅動的VPP將把可再生能源的重點從屋頂太陽能轉移到完全集成的儲能。目前,該公司註冊了橫跨20個公用事業的六個VPP,並計劃在2024年推出更多公用事業試點計劃。

In Australia, market recovery has been much more robust, and the Company has signed a multi-year agreement with Simply Energy to roll out their FCAS (Frequency Control Ancillary Service) VPP. The FCAS VPP, scheduled to begin in January, includes direct marketing campaigns from the utility to its customer base, incentivizing homeowners with monthly bill credits, upfront cash payments and further savings through a reduction of grid purchased power. The utility, on the other hand, will pay a fee to access the energy storage fleet, or the aggregation of individual storage systems, which are used to manage grid frequency in the event of sudden changes to supply or demand. One of the key benefits of aggregated storage systems is rapid response time and cost reduction for the utility, while keeping grid frequency within the mandated targets. The VPP roll out is expected to be accretive to Eguana's vertically integrated model in Australia, with residential and commercial solar + storage solutions, which has been steadily growing over the last two quarters.

在澳大利亞,市場復甦要強勁得多,該公司已與Simply Energy簽署了一項爲期多年的協議,以推出其FCAS(頻率控制輔助服務)VPP。FCAS VPP計劃於1月啓動,包括從公用事業公司到其客戶群的直接營銷活動,通過每月賬單抵免、預付現金以及通過減少電網購買的電力來進一步節省開支來激勵房主。另一方面,該公用事業公司將爲訪問儲能機隊或單個存儲系統的聚合支付費用,這些存儲系統用於在供應或需求突然發生變化時管理電網頻率。聚合存儲系統的關鍵優勢之一是快速響應時間和降低公用事業成本,同時將電網頻率保持在規定的目標範圍內。預計VPP的推出將促進Eguana在澳大利亞的垂直整合模式,其住宅和商用太陽能+存儲解決方案在過去兩個季度中一直在穩步增長。

In Europe, Eguana entered into a partnership with Finanzdesk, a German bank with a focus in renewables, to exclusively offer the Eguana Enduro to customers with existing Finanzdesk solar lease arrangements. The Enduro is designed specifically for the European market, for both new and retrofit installations. Finanzdesk currently has a customer base of 8,000 with rooftop solar and targets to grow additional solar + storage as a secondary channel. First units were sold to Finanzdesk in late 2023, with direct customer marketing campaigns expected to begin soon.

在歐洲,Eguana與一家專注於可再生能源的德國銀行Finanzdesk建立了合作伙伴關係,向擁有現有Finanzdesk太陽能租賃安排的客戶獨家提供Eguana Enduro。耐力賽 專爲歐洲市場設計,適用於新建和改造裝置。Finanzdesk目前擁有8,000名使用屋頂太陽能的客戶群,目標是增加額外的太陽能+存儲空間作爲次要渠道。第一批設備於2023年底出售給了Finanzdesk,直接的客戶營銷活動預計將很快開始。

"2023 has been a difficult year for the industry and particularly Eguana as we continue to work through short term liquidity concerns," commented Holland. "The team has been successful in building out the fully integrated Eguana Cloud platform and opening up recurring revenue streams through our utility partnerships, which we expect to play a key role in the market recovery and the adoption of energy storage technologies."

霍蘭德評論說:“2023年對該行業來說是艱難的一年,尤其是Eguana,因爲我們將繼續努力解決短期流動性問題。”“該團隊成功構建了完全集成的Eguana Cloud平台,並通過我們的公用事業合作伙伴關係開闢了經常性收入來源,我們預計這將在市場復甦和儲能技術的採用中發揮關鍵作用。”

About Eguana Technologies Inc.

關於 Eguana Technologies

Eguana Technologies Inc. (TSXV: EGT) (OTCQB: EGTYF) designs and manufactures high performance residential and commercial energy storage systems. The Company also markets and sells a suite of micro inverter products, which are integrated with its energy storage platform providing consumers with full solar + storage system architecture, for residential and commercial applications. 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 North America, Europe, and Australia.

Eguana Technologies Inc.(多倫多證券交易所股票代碼:EGT)(場外交易代碼:EGTYF)設計和製造高性能住宅和商用儲能系統。該公司還營銷和銷售一系列微型逆變器產品,這些產品與其儲能平台集成在一起,爲消費者提供完整的太陽能+存儲系統架構,用於住宅和商業應用。Eguana在爲燃料電池、光伏和電池應用提供電網邊緣電力電子設備方面擁有二十年的經驗,並通過其位於北美、歐洲和澳大利亞的大容量製造設施提供成熟、耐用、高質量的解決方案。

With thousands of its proprietary energy storage inverters 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. Focused on distributed energy storage applications located at the point of energy consumption, Eguana provides cost-effective solutions to modernize the power grid, from the consumer to the electricity retailer, the distribution utility, and the system operator.

Eguana在歐洲和北美市場部署了數千個專有的儲能逆變器,是太陽能自耗、電網服務和電網邊緣按需充電應用的電力控制的領先供應商之一。Eguana專注於位於能耗點的分佈式儲能應用,提供具有成本效益的解決方案,以實現從消費者到電力零售商、配電公用事業和系統運營商的電網現代化。

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

要了解更多信息,請訪問www。Eguanatech.com 或者在 Twitter 上關注我們 @EguanaTech

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

公司查詢
賈斯汀荷蘭
Eguana 科技公司首席執行官
+1.416.728.7635
Justin.Holland@EguanaTech.com

Forward-Looking Statements

前瞻性陳述

The reader is advised that all information herein, other than statements of historical fact, 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, forward-looking statements include, among other things, statements regarding the projected savings for the North American business related to headcount reductions and associated impact on operational objectives, the total Inventory Return and approximate cash payment to the Company and timing of such payment, timing and certainty of the cash payments and credits against the Company's accounts payable, anticipated effects of the fixed payment schedule negotiated with key customers, 2024 component availability and the Company's ability to reduce inventory investment and associated benefits, including gross margin improvements, anticipated effects of offsets with the company's key customer, including additional margin opportunity for the Company in 2024, the Company's cash flow needs, any anticipated market recovery in 2024, deferral of the February 1 and March 1, 2024 interest payments, the entering into of a formal amendment to the original loan agreement, the use of proceeds of the Offering, the start date for the roll out of FCAS VPP and its anticipated effects, the benefits associated with the aggregated storage systems, the effects of the Company's integrated cloud platform, the success of marketing efforts, ongoing support and future concessions from the Company's lenders and the Company's business operations, cash flow constraints, accounts receivable collections, product solutions, strategy, and product development. 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 by the Company to improve cash flow which would have a material adverse impact on the viability of the business to continue operating; the use of proceeds of the Offering; timely collection of accounts receivable; effective implementation and deployment of Eguana solutions and building additional partnerships and developing existing partnerships; general economic, market and business conditions; competitive factors; achieving strategic objectives; unanticipated effects of the reduction to headcount; delays to the Company's receipt of payment associated with the Inventory Return, if at all; inability to or delays in sourcing materials; the Company's ability to roll out additional utility pilot programs; the adoption of energy storage technologies may be slower than anticipated; and other factors set out in the "Risk Factors" section of the Company's management's discussion and analysis for the three and nine months ended September 30, 2023 and annual information form dated May 1, 2023, which may be found on its website or at . 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.

請讀者注意,除歷史事實陳述外,此處的所有信息均可能構成前瞻性陳述和前瞻性信息(合計,”前瞻性陳述“) 在國家儀器 51-102 規定的含義範圍內- 持續披露義務 以及其他相關的證券立法。特別是,前瞻性陳述包括以下方面的陳述:與裁員相關的北美業務預計節省額以及對運營目標的相關影響、庫存總回報率和向公司支付的大致現金以及此類付款的時間、現金支付和抵免公司應付賬款的時間和確定性、與主要客戶談判的固定付款時間表的預期影響、2024年的組件可用性以及公司的削減能力庫存投資和相關收益,包括毛利率的提高、與公司主要客戶抵消的預期影響,包括公司在2024年的額外利潤機會、公司的現金流需求、2024年任何預期的市場復甦、延期支付2024年2月1日和3月1日的利息、對原始貸款協議的正式修訂、本次發行收益的使用、FCAS VPP的開始日期及其預期效果,與之相關的好處聚合存儲系統、公司集成雲平台的影響、營銷工作的成功、公司貸款人和公司業務運營的持續支持和未來讓步、現金流限制、應收賬款收款、產品解決方案、戰略和產品開發。前瞻性陳述並不能保證未來的表現,涉及許多風險和不確定性。許多因素可能導致公司的實際業績、業績或成就,或未來的事件或發展,與前瞻性信息所表達或暗示的結果存在重大差異。這些因素包括但不限於與以下相關的風險:公司未能改善現金流,這將對業務繼續運營的可行性產生重大不利影響;本次發行收益的使用;應收賬款的及時收取;有效實施和部署Eguana解決方案,建立更多合作伙伴關係並發展現有合作伙伴關係;總體經濟、市場和業務狀況;競爭因素;實現戰略目標;減少至的意外影響員工人數;公司延遲收到與庫存申報表相關的付款(如果有的話);無法或延遲採購材料;公司推出更多公用事業試點計劃的能力;儲能技術的採用可能低於預期;以及公司管理層對截至2023年9月30日的三個月和九個月的討論和分析的 “風險因素” 部分以及2023年5月1日的年度信息表中列出的其他因素可以在其網站上找到,也可以在上面找到。提醒讀者不要過分依賴前瞻性信息,這些信息僅代表截至本文發佈之日。除非適用的證券法另有要求,否則公司不承擔任何義務公開發布此處包含的前瞻性陳述的任何修訂以反映本文發佈之日之後發生的事件或情況或反映意外事件的發生。

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.

多倫多證券交易所及其監管服務提供商(該術語在多倫多證券交易所的政策中定義)均不對本新聞稿的充分性或準確性承擔責任。

譯文內容由第三人軟體翻譯。


以上內容僅用作資訊或教育之目的,不構成與富途相關的任何投資建議。富途竭力但無法保證上述全部內容的真實性、準確性和原創性。
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