Eguana Tech Receives $15.0 Million Micro Inverter Order

Eguana Technologies (TSXV: EGT) has received a fresh order for its recently introduced micro inverters. The firm last night indicated that it has received a total of $15.0 million in additional orders for the product.

Orders are reportedly to begin being filled in the new year, with shipments stated to commence in January, with complete fulfillment expected to occur over the next two quarters. Further guidance on how orders will be allocated on a quarter by quarter basis were not provided.

READ: Eguana Technologies Receives $7 Million Micro Inverter Order From US-Based Omega Group

The firm also identified that it has fulfilled $7.0 million in micro inverter backlog that was initially announced in June, with the company said to have “increasing visibility on future orders and demand through its partners.”

“We recently launched micro inverter and energy storage platform on demand virtual training programs for better and faster scalability within the installer community. By broadening access to training, we expect to see increased visibility and continuing recurring orders,” commented CEO Justin Holland on the development.

Eguana Technologies last traded at $0.255 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.

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