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Energy Storage Systems Manufacturer Trends Positively with Orders
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A Mackie Research note relayed this company's latest news, regarding revenue and new hires.

Eguana's AC Battery Model

In an Oct. 22, 2018, research report, analyst Nikhil Thadani noted that Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) is getting initial reorders. "On August 23rd, with Q3 (Jun) F2018 results, the company announced that new orders in addition to ~$4 mln 9M F2018 revenue had exceeded ~$3 mln." Mackie Research expects the energy company will land about $2 million more in orders in the ensuing weeks or months. Once quarterly revenue "starts to approach and consistently exceed about $2Ė3M, the stock could rapidly rerate," he added.

Thadani pointed out that the recent hiring of two executives could boost incoming orders to Eguana. Marcus Brunner, the former chief sales and marketing officer at Mercedes-Benz Energy, will serve as chief sales officer. Dr. Andreas Rueckemann, previously an entrepreneur in the cleantech space, will take the role of director of sales, Europe.

Mackie believes that Eguana could generate significant revenue in calendar year 2019 from North America and Australia and that "topline growth should be coming." Thadani concluded, "We are optimistic that ongoing order activity should lead to consistent revenue and growth from Q1 FY19 (December) onward."

Mackie has a Speculative Buy rating and a CA$0.70 per share target price on Eguana, whose current share price is around CA$0.18.


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Disclosures from Mackie Research, Eguana Technologies Inc., Update, October 22, 2018

Relevant disclosures required under Rule 3400 applicable to companies under coverage discussed in this research report are available on our web site at

Each analyst of Mackie Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analystís personal views and (ii) no part of the research analystís compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

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