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.
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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.
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