Canadian Solar to Present New EP Cube, Showcasing Advanced Safety, at Intersolar in Munich

Rhea-AI Summary

Canadian Solar (NASDAQ: CSIQ) announced the unveiling of the new three-phase EP Cube and EP Cube Twin Peak at Intersolar in Munich on June 19-21, 2024. These additions to the EP Cube line aim to boost home energy storage in Europe, offering scalable capacities from 10 kWh to 60 kWh. The EP Cube features a maximum output power of 12 kVa, hybrid inverter compatibility, and supports high-spec solar panels. Safety is ensured with LFP batteries and an IP67-rated enclosure. The EP Cube, showcased through an underwater coffee brewing demo, is now available in Germany, Spain, Italy, and the UK.

Positive

• Introduction of three-phase EP Cube and EP Cube Twin Peak to enhance home energy storage adoption in Europe.
• Offering scalable and customizable capacities ranging from 10 kWh to 60 kWh.
• EP Cube features a maximum output power of 12 kVa and hybrid inverter compatibility.
• Supports high-spec solar panels with a maximum of 24 kWp and up to 4 MPPT inputs.
• EP Cube uses LFP batteries for excellent thermal and chemical stability.
• Battery system has successfully passed IEC certification.
• IP67-rated enclosure ensures protection against dust and water immersion.
• EP Cube available in Germany, Spain, Italy, and the UK through a trusted distribution network.
• Numerous installations already completed in Europe.

Negative

• No mention of specific sales targets or revenue projections from the new product line.
• Potential challenges in scaling production to meet European demand.

GUELPH, ON, June 18, 2024 /PRNewswire/ -- Canadian Solar Inc. (the "Company" or "Canadian Solar") (NASDAQ: CSIQ) today announced that it will present the new three-phase EP Cube and EP Cube Twin Peak at Intersolar in Munich, Germany, on June 19-21, 2024. This expansion of the successful EP Cube residential energy storage line aims to enhance home storage adoption across Europe, accommodating diverse residential requirements.

The three-phase EP Cube, offering a maximum output power of 12 kVa, ensures continuous operation of high-power electrical appliances even during grid outages. With the addition of the EP Cube Twin Peak, the EP Cube line provides scalable and customizable options, ranging from 10 kWh to 60 kWh capacities, compatible with both retrofit and newly installed PV systems. This flexibility allows homeowners to tailor their energy storage to their exact needs. Equipped with a hybrid inverter, the EP Cube supports high-spec solar panels with a maximum of 24 kWp and up to 4 MPPT inputs, achieving higher efficiency in solar energy storage.

EP Cube is committed to safety, using lithium-iron-phosphate (LFP) batteries with excellent thermal and chemical stability. The battery system has successfully passed IEC certification and is housed in an IP67-rated enclosure. At Canadian Solar's exhibit, visitors can experience a coffee brewing demonstration powered by an EP Cube submerged in approximately two feet of water, showcasing the EP Cube's superior performance under extreme conditions. This set-up represents the EP Cube's wet soaking test and is not indicative of standard installation practices.

Numerous EP Cube installations have already been completed in Europe, and the EP Cube is now available to customers in Germany, Spain, Italy, and the UK through Canadian Solar's trusted network of distributors.

EP Cube is developed and produced by Eternalplanet, a consumer-oriented independent brand of energy technology under Canadian Solar's CSI Solar subsidiary.

Visit Canadian Solar's booth A2.380 to explore the EP Cube home energy storage system and Canadian Solar's comprehensive range of photovoltaic applications, including solar modules, inverters, and storage solutions for Residential, Commercial & Industrial (C&I), and Utility applications.

About Canadian Solar
Canadian Solar was founded in 2001 in Canada and is one of the world's largest solar technology and renewable energy companies. It is a leading manufacturer of solar photovoltaic modules, provider of solar energy and battery energy storage solutions, and developer of utility-scale solar power and battery energy storage projects with a geographically diversified pipeline in various stages of development. Over the past 23 years, Canadian Solar has successfully delivered over 125 GW of premium-quality, solar photovoltaic modules to customers across the world. Likewise, since entering the project development business in 2010, Canadian Solar has developed, built, and connected over 10 GWp of solar power projects and 3.3 GWh of battery energy storage projects across the world. Currently, the Company has over 1.2 GWp of solar power projects in operation, 6.5 GWp of projects under construction or in backlog (late-stage), and an additional 19.8 GWp of projects in advanced and early-stage pipeline. In addition, the Company has 600 MWh of battery energy storage projects in operation and a total battery energy storage project development pipeline of around 56 GWh, including approximately 4.3 GWh under construction or in backlog, and an additional 51.6 GWh at advanced and early-stage development. Canadian Solar is one of the most bankable companies in the solar and renewable energy industry, having been publicly listed on the NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.

Safe Harbor/Forward-Looking Statements

Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business, regulatory and economic conditions and the state of the solar and battery storage market and industry; geopolitical tensions and conflicts, including impasses, sanctions and export controls; volatility, uncertainty, delays and disruptions related to the COVID-19 pandemic; supply chain disruptions; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets, such as Japan, the U.S., China, Brazil and Europe; changes in effective tax rates; changes in customer order patterns; changes in product mix; changes in corporate responsibility, especially environmental, social and governance ("ESG") requirements; capacity utilization; level of competition; pricing pressure and declines in or failure to timely adjust average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features that customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange and inflation rate fluctuations; litigation and other risks as described in Canadian Solar's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on April 26, 2024. Although Canadian Solar and Recurrent Energy believe that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar and Recurrent Energy undertake no duty to update such information, except as required under applicable law.

Canadian Solar Inc. Investor Relations Contact
Wina Huang
Investor Relations
Canadian Solar Inc.
investor@canadiansolar.com

 

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SOURCE Canadian Solar Inc.

FAQ

What new products did Canadian Solar (CSIQ) announce?

Canadian Solar announced the new three-phase EP Cube and EP Cube Twin Peak at Intersolar in Munich.

When and where will Canadian Solar present the new EP Cube?

Canadian Solar will present the new EP Cube at Intersolar in Munich on June 19-21, 2024.

What is the maximum output power of the new EP Cube?

The new EP Cube offers a maximum output power of 12 kVa.

What are the capacity options for the EP Cube?

The EP Cube offers scalable capacities ranging from 10 kWh to 60 kWh.

Which countries is the EP Cube available in?

The EP Cube is available in Germany, Spain, Italy, and the UK.

What type of batteries does the EP Cube use?

The EP Cube uses lithium-iron-phosphate (LFP) batteries.

Has the EP Cube been certified for safety?

Yes, the EP Cube battery system has passed IEC certification.