Eguana Technologies' BiDirex Inverters to be "Made in Germany"
Sustainable Energy Technologies Ltd (formerly TSX-V "STG" and now operating
under the name Eguana Technologies Inc) (TSX VENTURE:EGT) announced today that
it has entered into an agreement with leading electronics manufacturer, SRI
Radio Systems GmbH (www.sri.de) to have Eguana's smart grid "BiDirex" energy
storage inverters manufactured at SRI's plant in Durach, Bavaria.
BiDirex storage inverters provide core power conversion functionality and smart
grid connectivity for the market leading Sonnebatterie solar energy management
systems in European markets under a previously announced exclusive agreement
with Prosol Invest GmbH.
Prosol Invest has been shipping Sonnenbatterie systems powered by Bi-Direx
inverters made in Canada since August of this year, and is now set to ramp
production of its full product line with "made in Germany" Bi-Direx inverters.
Christoph Ostermann CEO of Prosol Invest commented: "Sonnenbatterie now commands
a leadership position in the German energy storage market, and we are back
ordered for the Eguana powered Sonnenbatterie systems. The Eguana agreement with
SRI is a pivotal event that will allow us to ramp production for our partners
and customers in Europe."
Justin Holland, COO of Eguana Technologies commented: "SRI's world class
manufacturing and supply chain management capabilities are located within 15
kilometers of Prosol Invest, enabling us to virtually wipe out logistics costs,
drive down product cost, shorten product delivery lead times, and reduce our
environmental impact by eliminating product packaging with reusable material
handling equipment. This is a significant step forward for Equana."
The German made Sonnenbatterie has emerged as the leading European energy
management system designed to maximize on site consumption of solar energy.
Sonnenbatterie offers intelligent integrated product solutions with storage
capacities ranging from 2 kilowatt hours to more than 60 kilowatt hours. No
other product in the market offers the scalability and customer choice of the
Sonnenbatterie product line - a feature that is facilitated by Eguana's
Germany has staked out a global leadership position in the use of energy storage
as a means of increasing the use of renewable energy and reducing stress on the
transmission and distribution infrastructure. London based IHS Research is
predicting that the cumulative installations in Germany are expected to grow to
2,500 Megawatts by 2017, a leap from 12 Megawatts in 2012.
SRI is a member of the TQ Group of companies, one of the world's leading
contract manufacturer of electronic and electro-mechanic devices, with more than
1,200 employees in the group.
About EGUANA TECHNOLGIES, INC:
Headquartered in Calgary, Alberta, Canada, Eguana Technologies Inc. designs and
manufactures intelligent high performance low-voltage power electronics
platforms for distributed smart grid and energy storage applications. Eguana's
software configurable platform enables energy storage systems to optimize the
lower cost, modularity and safety advantages of low voltage advanced battery
technologies at a much lower cost, and with greater design flexibility than is
possible with conventional power electronics solutions.
Sustainable Energy Technologies Ltd announced that effective September 4, 2013
the Company would operate under the name, Eguana Technologies Inc. The legal
name of the Company has not changed, but the Company will do business as Eguana
Technologies Inc, pending approval of the official name change by shareholders,
which will be sought at the Company's Annual General Meeting October 29, 2013.
Effective Monday, September 9, 2013, the Company ceased trading under "STG" and
began trading under its new ticker symbol "EGT" on the TSX Venture Exchange.
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 energy storage inverter and its value
for residential and commercial non-utility scale energy storage system;
statements concerning the performance of the Sonnenbatterie suite of products
and its share of the energy storage market in Germany.
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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