Sustainable Energy to Operate Globally as Eguana Technologies Inc
Sustainable Energy Technologies Ltd (TSX VENTURE:STG) announced that it will
operate globally under the name Eguana Technologies Inc ("Eguana" or the
"Company") effective immediately.
The change in name creates an unmistakeable image that is linked to high
efficiency energy storage and resilience under tough operating conditions - the
shared characteristics of an Iguana and the Company's patented Bi-Direx(TM)
energy storage inverter. The move coincides with the emergence of the Company's
bi-directional power converter as the global leader for high efficiency
residential and commercial energy storage systems.
"The past 100 days have validated our patented Bi-Direx(TM) platform as the
premium power conversion system for emerging battery technologies in smart grid
and micro-grid applications," said Michael Carten, CEO of Eguana. "In Europe, we
have begun shipping Bi-Direx(TM) for the #1 solar battery system in the German
market; in Japan, we have engagement from several of the largest electronics
firms; and in the United States, we have demand from multiple sources for
back-up power and peak shaving applications, as well as for electric vehicle
As part of the move, the Company will now trade as "EGT" on the TSX Venture
Exchange. The change to the Company's new ticker symbol is effective Monday,
September 9, 2013. The Company's new website is www.eguanatech.com. Readers are
also invited to follow industry and market news on Twitter at:
Bi-Direx(TM) is the premium power electronics solution for "distributed"
residential and commercial energy storage systems. A unique single circuit
bi-directional conversion process enables higher round trip (charging and
discharging) efficiencies than any other solution in the market with a radically
simpler and lower cost system topology.
Bi-Direx(TM)' unique "open" controls architecture, and a very cost effective OEM
model, allows battery manufacturers and developers of energy storage/energy
management systems to access the core power conversion functionality needed to
build complete product solutions, at a much lower cost, and with much greater
control over total system design, than is possible with any other solution in
Demand for "distributed" energy storage is forecast to total more than 4.5
Gigawatts over the next four years, beginning in Germany, Japan, and the United
States, according to London-based IHS Research. Based on estimated market
pricing for energy storage electronics - $0.40 - $0.70 per watt - Eguana's
addressable market over this period is between $1.8 billion and $3.15 billion.
About EGUANA TECHNOLGIES, INC:
Eguana Technologies designs and manufactures intelligent low-voltage power
electronics for distributed smart grid and energy storage applications. High
performance "smart" power electronics are critical to the use of grid connected
energy storage systems, providing the interface between the system, the power
grid and the load.
Eguana's Bi-Direx(TM) power conversion platform uses proprietary and patented
technology to charge and discharge low voltage batteries with higher conversion
efficiencies than any other product or combination of products on the market.
With Bi-DirexT technology, energy storage systems can achieve the superior cost
safety and design flexibility offered by low voltage battery systems without
compromising electrical conversion efficiencies. Eguana's Bi-Direx(TM) has full
smart grid functionality, and is fully compliant with the tough European VDE
4105 interconnection standards, as well as meeting certification standards for
North America and Japan.
Headquartered in Calgary, Alberta, Canada, Eguana Technologies is listed on the
TSX Venture Exchange (TSX.V: EGT).
To learn more, visit www.EguanaTech.com or follow us on Twitter,
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 the features of our Bi-Direx inverter and its value for
non-utility scale energy storage systems and statements concerning the size of
the market for power electronics for residential and commercial non-utility
scale energy storage systems.
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 current Annual
Information Form 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Eguana Technologies Inc
+1.403.508.7177 ext 111
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