What We Do
Eguana (TSX: EGT.V) designs and manufactures grid interactive energy storage systems based on its proprietary power control technology. Fully integrated energy storage systems (“ESS”) consist of three major components, the software controller (the energy management system or “EMS”), the battery, and the advanced power controls.
The Company’s smart power control technology charges and discharge batteries, converting alternating current (AC) to direct current (DC) to charge and converting DC to AC to discharge batteries in a seamless bi-directional conversion process. Eguana’s technology also provides the point of connectivity to the energy storage system and provides regulatory control over the interconnection of the energy storage system to the power grid and the consumer.
Eguana’s products are designed and delivered as a value-added, factory assembled, energy storage system pre-integrated and certified with lithium batteries. Eguana can also deliver the solution without the EMS controller for integration into the customer’s own control network (“AC Battery”) or as a set of power controls sub-assemblies(“Bi-Direx”) for integration by the Company’s partners into their own products, with their own batteries. Eguana’s focus is on distributed energy storage located at the point of consumption, or the edge of the power grid. The Company believes edge of grid, or behind the meter, applications are the most cost-effective way to manage the power grid while delivering multiple value streams to the key stakeholders; the customer, the electricity retailer, the distribution utility and the system operator.
Management of Eguana believes that distributed energy storage continues to have significant growth potential in the renewable energy sector. Eguana’s product lines are standardized, globally patented and commercially certified for distribution in major markets.
Intellectual property is one of the Eguana’s core assets, and includes 16 patents and pending patents globally. Eguana’s competitive advantage is based on its software-driven open controls architecture, its core technology efficiency advantage and its energy storage integration capabilities. Recent product development activities have furthered Eguana’s technology capability to include remote diagnostics, pre and auto charge capability, expandable storage capacity and simplified installation.
Eguana’s vision is to become a global leader in residential and small commercial grid tied energy storage systems. Strategically the Company remains focused on product standardization with pre-integrated, factory assembled, software driven energy storage systems with flexible capacity and an open controls interface to support locally optimized energy management software. In 2017 the Company aligned the following objectives to this strategy;
- Build key relationships in the United States, Europe, and Australia
- Convert 2016 design wins into partner contracts
- Technology advancement in residential and small commercial platforms
- Expand human resource, operational, and development capacity
Fiscal 2017 proved to be a transformative year for Eguana as the Company successfully collected over +7 million in purchase orders, executed distribution and partner agreements in targeted markets and increased our gross margin by 25.5%. We have expanded business development activities with key relationships in high growth jurisdictions including Ontario, New York, and California and expect each market to deliver revenue in the coming year.
The core foundation of the Company is our technology. Eguana’s development team completed second generation product platforms with patented technology advancements including remote diagnostics, battery pre-charge and auto recovery, with single step installation. We have broadened our global product portfolio with multiple certifications, defined our cost reduction roadmap, and completed investment in our development lab that doubled in-house capability.
In 2018 Eguana will build on this foundation with an aggressive sales and marketing approach with new product launches in both residential and commercial channels. This will include Europe’s self-consumption market, the United States’ electric vehicle market and small commercial markets, and a private label product launch in Australia.
Hawaii, where revenue was delayed by two quarters as a result of battery availability and permitting delays, is now gaining traction, multiple volume shipments have been made and the Company has gained a 40% market share in the Customer Grid Supply market on Oahu. Management expects continued growth throughout the year. In Australia, our announced partner has been slow to roll out committed AC Batteries due to company reorganization. Management expects Australia will become a significant revenue driver in 2018.
Eguana is dedicated to providing world class products, people, and technology in a global marketplace. As such, the Company will continue to drive to excellence in culture, responsibility, accountability, and awareness. Through 2018 we will expand our team to provide technical “hands on” leadership in Germany, Australia, and the United States. Our goal will be to support the Eguana branded product launches, partner support and training programs, and to ensure best in class product reliability, installation, and customer experience.
Our mission is to bridge the gap between electricity supply and demand by making distributed energy storage more economic, flexible and reliable to enable the highest penetration of renewable energy sources into the grid.
Our Product Philosophy
Our product philosophy is to serve the renewable energy markets with innovative, cost efficient, and reliable products that are agnostic to different technologies and easily customized to meet the specific needs of our partners.
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