Source: Eguana.
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Eguana (EGT) has received over $2.4M in follow-on unit orders for Hawaii’s Battery Bonus Program
  • The company will deliver its Evolve storage systems, which provide a fully automated 14-kWh backup solution for multi-day power outages
  • The Battery Bonus Program addresses the gap in peaking capacity on Oahu using residential solar power storage systems
  • Eguana Technologies designs and manufactures residential and commercial energy storage systems
  • Eguana (EGT) is up by 1.82 per cent trading at $0.28 per share

Eguana (EGT) has received over $2.4M in follow-on unit orders for Hawaii’s Battery Bonus Program.

The company will deliver its Evolve storage systems, which provide a fully automated 14-kWh backup solution for multi-day power outages.

The Battery Bonus Program addresses the gap in peaking capacity on Oahu – which is driven by the scheduled retirement of the island’s only coal facility – by using residential solar power storage systems.

Eguana’s partner, Pineapple Energy, who recently acquired Hawaii Energy Connection, is a leading installer for the program.

“The Battery Bonus Program represents a critical turning point for electrical infrastructure planning in America,” said Kyle Udseth, CEO of Pineapple Energy. “Hawaii’s current challenges and solutions are indicative of challenges we will see nationwide in the coming years and we look forward to deploying the industry-leading solutions developed by Hawaii Energy Connection, E-Gear and Eguana across the U.S.A.”

“Recent program modifications are expected to accelerate installations in the short term as more residential solar homeowners participate,” added Justin Holland, Eguana’s CEO. “The Pineapple Energy team in Hawaii is intimately familiar with the Eguana Evolve and we look forward to increasing shipments for the battery bonus program as well as expansion into mainland opportunities with the Pineapple Energy team.”

Pineapple Energy is focused on growing leading local and regional solar, storage and energy services companies across the U.S.

Eguana Technologies designs and manufactures residential and commercial energy storage systems including fuel cell, photovoltaic and battery applications.

Eguana (EGT) is up by 1.82 per cent trading at $0.28 per share as of 12:56 pm EST.


More From The Market Herald
Datable - CEO, Robert Craig.

" Datable (TSXV:DAC) signs agreement with leading ad agency

Datable (DAC) will join a leading advertising agency to enable a high-profile marketing program.

" Mobi724 Global Solutions (TSXV:MOS) closes private placement

Mobi724 Global Solutions (MOS) has closed its previously announced non-brokered private placement financing for gross proceeds of $500,000.

" Plurilock’s (TSXV:PLUR) Aurora System receives US$3 million in purchase orders

Plurilock’s (PLUR) subsidiary, Aurora Systems Consulting, received purchase orders from several organizations in July 2022, totalling US$2,984,599.