CALGARY, Sept. 3, 2019 /CNW/ - Eguana Technologies
Inc. (TSX-V: EGT) (OTCQB: EGTYF) today announced that it has
completed a multi-year master supply agreement with Jabil (NYSE:
JBL), one of the world's largest electronics manufacturing services
(EMS) companies, to manufacture Eguana's residential and commercial
energy storage systems.
"Given the success the company has had building out our
distribution and dealer network we needed a manufacturing partner
with the ability to produce around the world, with an engineering
and design core competency, and a global supply chain and logistics
network," commented Justin Holland,
Eguana CEO. "Jabil has over 100 manufacturing sites and more than
200,000 employees, providing Eguana the scalability and reliability
required to service our customer base and growing demand."
"Jabil is actively participating in transformative emerging
markets for energy storage and distributed power. We are excited
that Eguana has selected Jabil as a global manufacturing partner to
realize its strategic objectives," added William L. Mitchell, Senior Director of
Corporate Investment of Jabil.
Eguana has also confirmed it has secured working capital support
from Export Development Canada (EDC). "Having EDC's support for
working capital is a significant step forward for Eguana. As orders
continue to scale working capital becomes critical to recognizing
revenue, and this agreement immediately lowers our cost of capital
and allows us to get Jabil started immediately," Holland said.
Jabil will initially focus on QCELLS Enduro production.
About EDC
Export Development Canada (EDC) is a
financial Crown corporation dedicated to helping Canadian companies
of all sizes succeed on the world stage. As international risk
experts, EDC equips Canadian companies with the tools they need –
the trade knowledge, financing solutions, equity, insurance, and
connections – to grow their business with confidence. Underlying
all EDC support is a commitment to sustainable and responsible
business.
About Eguana Technologies Inc.
Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF) designs and
manufactures high performance residential and commercial energy
storage systems. Eguana has two decades of experience delivering
grid edge power electronics for fuel cell, photovoltaic and battery
applications, and delivers proven, durable, high quality solutions
from its high capacity manufacturing facilities in Europe and North
America.
With thousands of its proprietary energy storage inverters
deployed in the European and North American markets, Eguana is one
of the leading suppliers of power controls for solar
self-consumption, grid services and demand charge applications at
the grid edge.
To learn more, visit www.EguanaTech.com or follow us on Twitter
@EguanaTech.
Forward-Looking Information
The reader is advised
that some of the information herein may constitute forward-looking
statements within the meaning assigned by National Instruments
51-102 and other relevant securities legislation. In particular, we
include: statements pertaining to the value of our power controls
to the energy storage market and statements concerning the use of
proceeds and the Eguana's ability to obtain necessary approvals
from TSX Venture Exchange.
Forward-looking information is not a guarantee of future
performance and involves a number of risks and uncertainties. Many
factors could cause the Eguana's actual results, performance or
achievements, or future events or developments, to differ
materially from those expressed or implied by the forward-looking
information. Readers are cautioned not to place undue reliance on
forward-looking information, which speaks only as of the date
hereof. Readers are also directed to the Risk Factors section of
the Eguana's current Annual Information Form which may be found on
its website or at sedar.com The Eguana does not undertake any
obligation to release publicly any revisions to forward-looking
information contained herein to reflect events or circumstances
that occur after the date hereof or to reflect the occurrence of
unanticipated events, except as may be required under applicable
securities laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Eguana Technologies Inc.