Calgary-based Eguana Technologies (TSX-V:EGT)(OTCQB:EGTYF) is extending its North American footprint, saying Monday morning that it has partnered with Georgia-based Creative Solar USA to bring its Evolve brand smart energy storage solutions to customers in the Southeast U.S. Starting immediately, Creative Solar will be offering the Evolve system, which allows solar customers to store excess solar power generation for use on demand, including in the event of a power outage.
Creative Solar says that 25% of its customers are requesting energy storage systems to be part of solar installations. Creative Solar is a leader in the market, recently being awarded contracts to install Solarize Atlanta and Solarize Carrolton customers. Solarize Atlanta was launched in April, with Creative Solar selected after a competitive bidding process to install all residential roof projects.
The "Solarize" projects are negotiated bulk-purchasing programs for vetted products and reputable installers designed to help homeowners and businesses save on adopting solar energy. There are five community Solarize programs operating, with record levels of participation for people and businesses seeking solar installations being reported.
"The Evolve system allows us to offer a fully-integrated, LG Chem battery-based, AC-coupled solution to our customers. With an attractive price point we expect the Evolve to pick up immediate traction in the South East," said Creative Solar CEO Russell Seifert in today's news release.
Creative Solar is expected to become a certified Eguana installer this month with installations to start immediately, as initial product orders have already been placed. The Evolve system is rated at 5 kilowatts AC output with a modular battery design based on a 6.5 kWh battery, which is scalable from 13 to 39 kWh in storage capacity.
Evolve is currently available in the U.S. and Caribbean markets, although Eguana has recently unveiled new distribution partners that will bring the product to global markets, including Belgium, France, the Netherlands, Turkey, Middle East, Africa and more.
Despite the positive development, Toronto-listed shares of EGT are trading down 2.13% at 23 cents in early Monday trading action.
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