Eguana Technologies (TSXV: EGT) is expanding its product offerings yet again. The firm this evening revealed that it will now be including solar PV microinverter solutions to its product lineup within its power controls platform.
Referred to as the Eguana Enfuse line of products, the microinverters are reportedly designed to maximum energy. The microinverters are said to deliver up to 15% more energy on an annual basis than that of its peers within the space.
The product line is being added to Eguana’s platform as it looks to enhance its offerings to enable a “more efficient installation process, better reliability, and the most cost effective microinverter solution on the market.” The microinverters are said to work with single, dual and quad photovoltaic module configurations, enabling the maximizing of solar configurations. Eguana’s energy storage products meanwhile will also continue to be compatible with third party inverters.
“We’re excited to offer an integrated energy solution with such a compelling product line-up that offers simplicity to customers, distributors, and white label partners. Enfuse will be available in the US for Spring 2022 and we expect quick uptake of our micro inverters beyond our storage market channels. Availability in other global markets will follow over the next two quarters,” commented CEO Justin Holland on the announcement.
The announcement follows the company receiving a purchase order earlier this month for 1,000 units via its white label partnership agreement. The order is valued at over $11.0 million. A week later Raymond James initiated analyst coverage on the company with a $0.75 per share price target.
Eguana Technologies last traded at $0.41 on the TSX Venture.
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