Eguana Technologies Receives $7 Million Micro Inverter Order From US-Based Omega Group
On June 14, Eguana Technologies (TSXV: EGT) revealed it has received its first order for micro inverters, valued at over $7 million.
The order, which was placed by Omega Group, totals almost 26,000 pieces comprising of single, dual, and quad style micro inverters. Eguana has already shipped out bulk containers, with plans to commence installer and branch level fulfillment orders within the next month.
“There is significant demand for a fully integrated solar + storage solution with a recognizable brand to diversify the market and provide consumers with renewable energy choice,” said Eguana CEO Justin Holland. “Energy storage and residential rooftop solar will both play critical roles in transforming the power grid and providing desperately needed EV infrastructure, with our partner Omega we now have both readily available.”
Compared to competitor products, Eguana’s micro inverters have been designed to accept higher energy levels, and can deliver up to 15% more power per year. “With micro inverter shipments already on the water, we are in good shape to meet customer demand for storage and solar. Distribution growth has been phenomenal and we intend to keep the pedal down and execute this massive opportunity,” added Omega CEO Chris Alessio.
Eguana Technologies last traded at $0.25 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. We may buy or sell securities in the company at any time. Always do additional research and consult a professional before purchasing a security.
