Welcome to our dedicated page for Eguana Technologies news (Ticker: EGTYF), a resource for investors and traders seeking the latest updates and insights on Eguana Technologies stock.
Eguana Technologies Inc. (EGTYF) specializes in advanced energy storage solutions and grid modernization technologies for residential, commercial, and utility applications. This dedicated news hub provides investors and industry stakeholders with timely updates on the company's strategic developments.
Access official press releases, financial disclosures, and operational milestones including product innovations, partnership announcements, and regulatory compliance updates. Our curated collection helps users track Eguana's progress in virtual power plant integration, DERMS deployments, and energy storage system advancements.
Key updates include quarterly earnings reports, manufacturing expansions, and technological breakthroughs in distributed energy resource management. Bookmark this page for streamlined access to critical information supporting informed analysis of Eguana's market position and technological roadmap.
Eguana Technologies (OTCQB: EGTYF) has announced an anticipated delay in filing its annual financial statements for the year ended December 31, 2024. The company will miss the April 29, 2025 filing deadline due to recent personnel changes, specifically the departure of their CFO announced on March 11, 2025.
The company is working with reduced staff and has added additional accounting resources to support the finalization of year-end reporting. Eguana expects to complete all required filings by May 31, 2025 and has applied to the Alberta Securities Commission for a voluntary management cease trade order (MCTO). If granted, the MCTO will only restrict trading for the CEO and CFO while remaining in effect until the Annual Filings are completed.
The company commits to providing bi-weekly status updates and confirms it is not subject to any insolvency proceedings.
Eguana Technologies (TSXV: EGT) reports significant progress in its exclusive British Columbia feeder program, having shipped over half a megawatt of Evolve energy storage systems in twelve weeks. The utility-funded program aims to strengthen two targeted feeders through advanced battery installations.
The systems generate monthly recurring revenue through system level and fleet management services via Eguana's Hardware and Cloud platforms. The program operates within the utility's Demand Response initiative, using Eguana's Exchange Fleet Control software integrated with DERMS to manage battery charge and discharge functions.
The company expects to complete the full megawatt installation by spring 2025. Additionally, Eguana has completed fleet aggregated demand response testing in California, plans a late summer roll out in Alberta, and is participating in an Ontario utility RFP. The company also maintains ongoing utility demonstrations in Vermont, Oregon, and Nova Scotia.
Eguana Technologies (TSXV: EGT) (OTCQB: EGTYF) has received approval from the TSX Venture Exchange for a 10:1 share consolidation. The consolidation will be effective April 4, 2025, with the company trading under new CUSIP/ISIN numbers 282365501/CA2823655014.
Under this consolidation, the company's 451,956,022 outstanding common shares will be reduced to approximately 45,195,602 shares. Shareholders' percentage ownership and proportionate voting power will remain unchanged, except for minor adjustments related to fractional shares.
Eguana Technologies (TSXV: EGT) has announced a strategic collaboration with Itron to enhance utility control of distributed energy storage systems. The partnership integrates Eguana's energy storage systems with Itron's IntelliFLEX grid edge DERMS solution, enabling advanced utility control functionality through standards-based integration.
Both companies will market the combined solution to utility customers, particularly targeting those looking to expand distributed energy storage procurement while utilizing established grid edge dispatch and monitoring networks. The integration allows residential energy storage systems to move beyond basic backup power and occasional demand response, positioning them as essential contributors to grid capacity and infrastructure.
Eguana Technologies (EGTYF) has reached a settlement regarding its collaboration agreement with Duracell Power Center. Under the settlement terms, Duracell Power Center has paid a US$250,000 cash termination fee and will transfer ownership of US$1.1M in finished goods, including 5KW and 10KW Evolve systems, to Eguana.
Key terms include:
- Eguana will provide replacement parts during the remaining warranty period
- Duracell Power Center remains responsible for field support costs of warranty replacements
- Manufacturing credit available to Eguana increased by US$250,000 to US$1.45M, to be utilized within 36 months
The settlement enhances Eguana's finished goods inventory, supporting their feeder enhancement project in British Columbia and utility strategy, while providing near-term liquidity and reducing working capital requirements through 2026.
Eguana Technologies (TSXV: EGT) (OTC Pink: EGTYF) has announced a 10:1 share consolidation following shareholder approval at their September 26, 2024 annual general meeting. The consolidation will reduce the company's outstanding common shares from 451,956,022 to approximately 45,195,602.
The energy storage systems provider aims to increase its share price through this consolidation, potentially enhancing investor interest, reducing shareholder transaction costs, and improving trading liquidity. The consolidation, which remains subject to TSX Venture Exchange approval, was approved within a range of three to ten pre-consolidation shares for each post-consolidation share, with the board selecting the maximum 10:1 ratio.
Eguana Technologies (TSXV: EGT) has completed the integration of its Evolve platform with EnergyHub's Edge Distributed Energy Resource Management System (DERMS). This partnership marks Eguana's fifth DERMS integration, expanding its virtual power plant (VPP) capabilities across North America.
The integration enables Eguana's energy storage systems to participate in utility flexibility programs operated by EnergyHub, supporting grid reliability and cost reduction. The company will initially focus on Connecticut's Energy Storage Solutions program, which offers upfront and annual performance incentives with specific dispatch requirements.
The Evolve platform is designed to provide comprehensive VPP capabilities for both utility and consumer stakeholders, as utilities increasingly adopt advanced battery storage assets to enhance power grid infrastructure.
Eguana Technologies (TSXV: EGT) provided a business update highlighting significant financial challenges and management changes. The company is facing tight liquidity, with deferred amortization payments for January and February 2025. They secured a deferral of convertible debenture interest payments to August 31, 2025.
The company closed a short-term bridge loan financing of approximately $90,000 in February 2025, with participation from the CEO and a Board member. The loan carries a 4% monthly interest rate, due May 1, 2025. Additionally, the Board granted 3,450,000 incentive stock options at $0.05 per share.
In management changes, Neil D'Souza was promoted to VP of Engineering, Adebayo Adegbola to Director of Engineering, and Mohamed Safa to Director of Customer and Technical Service. CFO Hansine Ullberg resigned effective February 19, 2025.
Eguana Technologies (TSXV: EGT) provided a financial and operational update highlighting significant challenges. The company faces liquidity issues due to the underperforming renewable energy sector, with decreased consumer spending attributed to inflation and high-interest rates. A key USA customer's delayed payments and slower-than-expected sales from the BC Hydro collaboration have impacted short-term liquidity.
The company has delayed its January 15, 2025 loan payment and expects to enter technical default. Discussions with the senior lender are ongoing regarding a potential forbearance agreement. Despite market challenges, Eguana is pursuing utility sales channels and developing its software platform, including AI-driven enhancements to its Edge, Exchange, and Engage products.
Additionally, CTO Daljit Ghotra has resigned effective January 31, 2025. The company plans to recruit a new technical leader focused on software and cloud technologies to accelerate utility sales and generate recurring revenue.
Eguana Technologies reported Q3 2024 financial results showing revenue of $0.3 million, down from $2.5 million in Q3 2023, reflecting ongoing market challenges in the renewable energy sector. Operating loss improved to $2.7 million from $5.7 million year-over-year, driven by significant cost reductions. The company announced strategic moves into utility Virtual Power Plant channels, including an exclusive program with BC Hydro for a 200-unit pilot program. Working capital was negative $37.7 million, impacted by convertible debenture liability. The company secured a loan amendment extending amortization to May 2026 and plans to close its Australian subsidiary.
