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TICKERS: EGT; EGTYF

Energy Storage Systems Firm Partners to Install Products for Virtual Power Plant
News Update

Source:

This is the company's start to ramping up storage capacity in South Australia.

Eguana's AC Battery Model

Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) announced in a news release it partnered with Sharpe Energy Rating Systems, an installer, to deliver Eguana's Evolve energy storage system to support Simply Energy's simply extra virtual power plant (VPP) in South Australia.

"Sharpe Energy Rating Systems brings a new scale to our dealer network," Brent Harris, Eguana's founder and executive vice president, said in the release.

For the VPP project, Sharpe placed an initial order with Eguana that is valued at more than $2.3 million, and the first 20 systems were released for delivery. Sharpe will likely take the remainder of the order within 2019.

The VPP is the first to be launched in South Australia in support of its Home Battery Scheme storage incentive program that aims for installation of 40,000 systems over the next two years.

"The Eguana Evolve is the smartest storage product on the market, making it a perfect fit for the VPPs being deployed here in South Australia," Sharpe Energy Rating Systems Owner David Sharpe said in the release.

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