Eguana Tech Readies For First Production Of 10kW Evolve Battery Pack

Eguana Technologies (TSXV: EGT) continues to forge ahead with the development of its Evolve energy storage system. The company this morning announced that its 10kW Evolve product has now completed construction review, and is now pushing ahead to final certification.

The news is welcome to investors, with the development of the 10kW pack moving along ahead of schedule. With the move to final certification, the company is now in the process of procuring the raw materials required for the first production units, with the commercial launch of the large battery pack slated for July.

Customers as a result can expect to begin receiving their orders this summer.

The benefit of the 10kW battery pack is that it contains twice the power and storage capacity than that of leading competitors. The product notably also has options for expandable storage capacity, enabling the Evolve to have a role in virtual power plant infrastructure builds.

“Customer preferences in the US continue to rapidly shift towards larger systems with expandable storage capacity options to serve both VPP and Whole Home back up markets. Our platform design continues to demonstrate its edge in rapid product development for a market that is constantly changing. Procurement has commenced for 10kW production with first commercial units available in July.”

Justin Holland, CEO of Eguana Technologies

Eguana Technologies last traded at $0.37 on the TSX Venture.


FULL DISCLOSURE: Eguana Technologies is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Eguana Technologies on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.

Video Articles

Mergers Set the Stage for Uranium’s Growth Cycle | Forum-Baselode Merger

The Goal is Gold Production as Soon as Possible! | Gordon Robb – ESGOLD Corp.

Snowline Gold: The Multi Billion Dollar Valley PEA

Recommended

First Majestic Produces 7.9 Silver Equivalent Ounces In Q2, Lifts Production Guidance

Antimony Resources Drills 4.17% Antimony Over 7.4 Metres At Bald Hill

Related News

Stifel Raises Eguana Technologies Price Target To $0.90

Yesterday Stifel GMP raised their price target on Eguana Technologies (TSXV: EGT) from C$0.85 to...

Thursday, May 6, 2021, 04:21:00 PM

Eguana Tech Earnings: Record Quarter, Growing Installer Base

In this new episode, SmallCapSteve sits down with Justin Holland, CEO of Eguana Technologies (TSXV:...
Sunday, May 7, 2023, 11:21:00 AM

Eguana Receives C$33.0 Million From ITOCHU With Conversion At 22% Premium To Market Price

This morning Eguana Technologies (TSXV: EGT) announced a $33.0 million strategic investment from Japenese based...

Friday, August 26, 2022, 08:21:34 AM

Wood Mackenzie Estimates Energy Storage to Grow at 31% CAGR to 2030

Last week, Wood Mackenize issued a report forecasting the growth of global energy storage capacity....

Monday, October 5, 2020, 11:42:15 PM

Cormark: “Eguana Tech Is At The Very Forefront Of The Growing Wave Of Energy Storage”

Yesterday, Eguana Technologies (TSXV: EGT) released their full year 2020 financial results, alongside an operational...

Friday, January 22, 2021, 11:45:00 AM