Eguana Technologies (TSXV: EGT) has further strengthened its supply chain. The company this morning announced that it has expanded its operational capacity within Southern California, a prime market for the energy storage firm.
The expansion within SoCal comes via Noratel, a key supplier of the company with whom Eguana has now expanded its partnership. The expanded arrangement will see Noratel assemble product from Eguana within the region for the US market, with services provided also including packaging, logistics and customer service capabilities.
Commissioning of the assemble capabilities are expected to occur within the current quarter. Prior to the expanded arrangement, Noratel was providing Eguana with magnetics supply. Commenting on the news, Noratel Canada Managing Director Steve Nolan stated, “We have seen a significant order increase with respect to Eguana magnetics over the last several months and our team is excited to execute on the assembly plans and ramp up shipments to Eguana customers.”
Sponsored · Selkirk Copper Mines
The arrangement is expected to enable Eguana to continue to scale its business and meet continued demand for its energy storage products within California. First shipments under the arrangement have already been completed, with Eguana notably securing additional off-site storage capacity in the region to assist in handle raw material overflow as the company works to manage its inventory.
“Noratel is a long-standing partner and we were happy to be in position to ramp up material orders with them, along with all our key partners, to scale the business and meet continued demand in California.”
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.
