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[September 06, 2013]
Sustainable Energy to Operate Globally as Eguana Technologies Inc [Global Data Point]
(Global Data Point Via Acquire Media NewsEdge) Sustainable Energy Technologies Ltd (TSX VENTURE:STG) announced that it will operate globally under the name Eguana Technologies Inc ("Eguana" or the "Company") effective immediately.
The change in name creates an unmistakeable image that is linked to high efficiency energy storage and resilience under tough operating conditions - the shared characteristics of an Iguana and the Company's patented Bi-Direx™ energy storage inverter. The move coincides with the emergence of the Company's bi-directional power converter as the global leader for high efficiency residential and commercial energy storage systems.
"The past 100 days have validated our patented Bi-Direx™ platform as the premium power conversion system for emerging battery technologies in smart grid and micro-grid applications," said Michael Carten, CEO of Eguana. "In Europe, we have begun shipping Bi-Direx™ for the #1 solar battery system in the German market; in Japan, we have engagement from several of the largest electronics firms; and in the United States, we have demand from multiple sources for back-up power and peak shaving applications, as well as for electric vehicle charging stations." As part of the move, the Company will now trade as "EGT" on the TSX Venture Exchange. The change to the Company's new ticker symbol is effective Monday, September 9, 2013. The Company's new website is www.eguanatech.com. Readers are also invited to follow industry and market news on Twitter at:
Bi-Direx™ is the premium power electronics solution for "distributed" residential and commercial energy storage systems. A unique single circuit bi-directional conversion process enables higher round trip (charging and discharging) efficiencies than any other solution in the market with a radically simpler and lower cost system topology.
Bi-Direx™' unique "open" controls architecture, and a very cost effective OEM model, allows battery manufacturers and developers of energy storage/energy management systems to access the core power conversion functionality needed to build complete product solutions, at a much lower cost, and with much greater control over total system design, than is possible with any other solution in the market.
Demand for "distributed" energy storage is forecast to total more than 4.5 Gigawatts over the next four years, beginning in Germany, Japan, and the United States, according to London-based IHS Research. Based on estimated market pricing for energy storage electronics - $0.40 - $0.70 per watt - Eguana's addressable market over this period is between $1.8 billion and $3.15 billion.
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