In a news release, Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) announced that "it has expanded its Evolve residential product line with the introduction of the Evolve LFP energy storage system."
The company advised that its new cobalt-free lithium iron phosphate (LFP) based solution is now readily available in both the U.S. and Caribbean markets via solar dealers and wholesale distributors. The firm stated that with the introduction of the Evolve LFP product line it is the first home battery storage company to offer consumers a choice in battery chemistry. The company noted that it has quickly responded to increased market demand for cobalt-free LFP based solutions and that meeting those requests has helped improve the sustainability of its product offerings.
Eguana CEO Justin Holland remarked, "Consumers are discerning and we continue to offer market leading choices...Our advanced technology platform lends itself to easy integration with different battery chemistries and energy management software which provides for a standardized price point for both the NMC (Nickel Manganese Cobalt) and LFP products. The development team also maintained all key product advantages including: expandable and modular battery capacity, remote diagnostics and analytics, and quick and simple installation."
The company highlighted some of the key features of its Evolve LFP energy storage system and pointed out that it offers custom sizing that is scalable from 14 to 42 kWh storage capacity, offers a 15-year, 6000+ cycle warranty and high performance deep discharge for use in daily cycle applications.
Livio Filice, director of global sales at Eguana Technologies, commented, "Eguana has positioned itself as the only global system integrator to offer its customers both LFP and NMC energy storage solutions. With over 200 Certified Eguana Partners in North America and Australia, the expanded product portfolio will open additional sales opportunities in key markets as we continue to expand the dealer network."
The firm indicated that its Evolve LFP is certified in North America and that it expects to receive certification in Australia in October 2020. The company stated that initial market feedback has been very positive and it believes that the introduction of the LFP system will make Eguana's Evolve the preferred solution for residential solar and electrical contractors.
The company explained that that the "Evolve LFP is a fully integrated residential energy storage system that includes the company's proprietary power electronics system, industry leading low-voltage battery modules, comprehensive user interface, and industry-leading energy management capabilities." The firm pointed out that the Evolve LFP supports grid-connected solar self-consumption, time of use, and backup power and has received certification to UL1741, California's Rule 21 and Hawaii's Rule 14H.
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