Eguana Announces Exclusive Collaboration with BC Hydro
Eguana Technologies has been selected to supply its Evolve LFP energy storage systems in a pilot program with BC Hydro. The project involves installing one megawatt of storage capacity across 200 customer homes by spring 2025, with over two-thirds of customers already recruited and eight trained contractors ready for installations. The systems will be controlled through Eguana's Exchange fleet control software, integrated with Uplight's DERMS solution, to strengthen the local electricity grid and reduce peak loads. The project demonstrates advanced Virtual Power Plant functionality, offering demand response resources and feeder management capabilities through behind-the-meter networking.
Eguana Technologies è stata selezionata per fornire i suoi sistemi di stoccaggio energetico Evolve LFP in un programma pilota con BC Hydro. Il progetto prevede l'installazione di un megawatt di capacità di stoccaggio in 200 abitazioni dei clienti entro la primavera del 2025, con oltre due terzi dei clienti già reclutati e otto appaltatori formati pronti per le installazioni. I sistemi saranno controllati tramite il software di gestione della flotta Exchange di Eguana, integrato con la soluzione DERMS di Uplight, per rafforzare la rete elettrica locale e ridurre i picchi di carico. Il progetto dimostra la funzionalità avanzata della Piattaforma Elettrica Virtuale, offrendo risorse di risposta alla domanda e capacità di gestione dei feeder attraverso una rete dietro il contatore.
Eguana Technologies ha sido seleccionada para suministrar sus sistemas de almacenamiento de energía Evolve LFP en un programa piloto con BC Hydro. El proyecto implica la instalación de un megavatio de capacidad de almacenamiento en 200 hogares de clientes para la primavera de 2025, con más de dos tercios de los clientes ya reclutados y ocho contratistas capacitados listos para las instalaciones. Los sistemas se controlarán a través del software de control de flota Exchange de Eguana, integrado con la solución DERMS de Uplight, para fortalecer la red eléctrica local y reducir las cargas máximas. El proyecto demuestra funcionalidades avanzadas de Planta de Energía Virtual, ofreciendo recursos de respuesta a la demanda y capacidades de gestión de alimentadores a través de una red detrás del medidor.
에구아나 테크놀로지스가 BC 하이드로와의 파일럿 프로그램에서 Evolve LFP 에너지 저장 시스템을 공급하기 위해 선정되었습니다. 이 프로젝트는 2025년 봄까지 200명의 고객 가정에 걸쳐 1메가와트의 저장 용량을 설치하는 것을 포함하며, 고객의 3분의 2 이상이 이미 모집되었고 8명의 훈련된 계약자가 설치를 위해 준비되었습니다. 이 시스템은 에구아나의 플릿 제어 소프트웨어인 Exchange를 통해 제어되며, Uplight의 DERMS 솔루션과 통합되어 지역 전기 그리드를 강화하고 피크 부하를 줄이는 데 사용됩니다. 이 프로젝트는 고급 가상 발전소 기능을 보여주며, 계량기 뒤에서의 네트워킹을 통해 수요 반응 자원과 피더 관리 기능을 제공합니다.
Eguana Technologies a été sélectionnée pour fournir ses systèmes de stockage d'énergie Evolve LFP dans un programme pilote avec BC Hydro. Le projet implique l'installation d'un mégawatt de capacité de stockage dans 200 foyers clients d'ici le printemps 2025, avec plus des deux tiers des clients déjà recrutés et huit entrepreneurs formés prêts pour les installations. Les systèmes seront contrôlés via le logiciel de gestion de flotte Exchange d'Eguana, intégré à la solution DERMS d'Uplight, afin de renforcer le réseau électrique local et de réduire les charges de pointe. Le projet démontre des fonctionnalités avancées de Centrale Électrique Virtuelle, offrant des ressources de réponse à la demande et des capacités de gestion des alimentations via un réseau derrière le compteur.
Eguana Technologies wurde ausgewählt, um ihre Evolve LFP Energiespeichersysteme in einem Pilotprojekt mit BC Hydro zu liefern. Das Projekt umfasst die Installation von einem Megawatt Speicherkapazität in 200 Kundenwohnheiten bis zum Frühjahr 2025, wobei über zwei Drittel der Kunden bereits rekrutiert sind und acht geschulte Auftragnehmer bereit für die Installationen sind. Die Systeme werden über die Flottenmanagementsoftware Exchange von Eguana gesteuert, die mit der DERMS-Lösung von Uplight integriert ist, um das lokale Stromnetz zu stärken und die Spitzenlasten zu reduzieren. Das Projekt zeigt fortschrittliche Funktionen eines Virtuellen Kraftwerks und bietet Ressourcen für die Nachfrageantwort sowie Verwaltungsfähigkeiten für die Zuleitungen über eine hinter dem Zähler liegende Vernetzung.
- Selected as exclusive supplier for 1MW energy storage pilot with BC Hydro
- 200 customer installations secured with over 2/3 already recruited
- Eight trained contractors ready for immediate deployment
- Products registered with BC Hydro's commercial and residential programs
- None.
Calgary, Alberta--(Newsfile Corp. - November 27, 2024) - Eguana Technologies Inc. (TSXV: EGT) ("Eguana" or the "Company"), a leading provider of high-performance energy storage systems, is pleased to announce that it has been selected as the supplier in a pilot offer with 200 customers, for the installation of a megawatt of its Evolve LFP energy storage system with BC Hydro, a Western Canadian utility. BC Hydro has recruited over two thirds of the customers, with eight Eguana-trained electrical contractors engaged and ready to install the first units this year and targeting all installation to be completed by spring 2025.
The systems will be deployed in customer homes, within the utility service territory and have the primary objective of strengthening the local electricity grid, while reducing system peak loads. Battery charge and discharge functions will be controlled using Eguana's Exchange fleet control software module, a pillar of the Eguana Cloud platform, responding to dispatch signals from the utility's DERMS solution provider, Uplight, a clean energy technology company that enables utilities and power providers to conserve, deploy, and manage energy resources.
"This project is a bellwether for the industry," said Brent Harris, CCO of Eguana. "It will greatly enhance existing Virtual Power Plant programs that were built by aggregating customer-owned assets like smart thermostats and EV chargers, by allowing faster deployment of significant energy storage assets, providing reliable curtailment and management of devices. We believe utility engagement, provision of resiliency services to customers, and ancillary services to the system operator through advanced fleet management, will become the accelerated path for distributed energy storage and VPP deployments throughout North America."
A Virtual Power Plant, or VPP, provides Megawatt level demand response resources to utilities by networking and dispatching hundreds of smaller, behind-the-meter resources in unison. Eguana's products deliver traditional VPP functionality, along with additional advanced feeder management capabilities. These advanced features become especially valuable where a high capacity is installed on single feeder lines.
Eguana's products are also registered with the BC Hydro's commercial and residential bring-your-own-device programs and are managed through the same Eguana Exchange / DERMS interface and dashboard, however with different operating parameters. This pilot follows several smaller successful demonstration projects that have been executed over the past year, with the same utility.
"Eguana's hardware and software platforms have been developed and manufactured in North America, which provides utility partners with additional confidence," added Eguana CFO Hansine Ullberg. "Our grid transition partners will recognize this benefit as they move towards utility owned and controlled assets that support the clean energy transition, reduce and defer major capital spend, and provide much needed capacity and resiliency to the power grid."
About Eguana Technologies Inc.
Eguana's vision is to build the grid of the future by delivering flexible, modular, and cost-effective alternatives to traditional grid upgrades. Our technology provides value to all key stakeholders - from the consumer, to the electricity retailer, the distribution utility, and the system operator.
Since 1998, Eguana Technologies has connected utilities with consumers through its high-performance commercial and residential energy storage solutions. The Eguana product suite has been designed from the ground up with both the end user and the utility in mind to transition the power grid seamlessly.
Manufactured in local facilities across the globe to ensure compliance and quality, Eguana's standardized platform allows the flexibility to ensure each product solution is optimized for use in major grid modernization markets.
To learn more, visit www.EguanaTech.com or follow us on LinkedIn or @EguanaTech on X.
Company Inquiries
Justin Holland, CEO
Eguana Technologies Inc.
+1.416.728.7635
Justin.Holland@EguanaTech.com
Forward-Looking Statements
The reader is advised that all information herein, other than statements of historical fact, may constitute forward-looking statements and forward-looking information (together, "forward- looking statements") within the meaning assigned by National Instrument 51-102 - Continuous Disclosure Obligations and other relevant securities legislation. In particular, forward-looking statements include, among other things, statements regarding the date or speed for the deployment of solutions with utilities and its anticipated effects, the various benefits associated with the VPP aggregated storage systems, fleet management and feeder load balancing, the effects of the Company's integrated cloud platform, successful integration with DERMS and benefits to consumers and utilities, the success of marketing efforts, the anticipated benefits of the contract with the utility partner and that the Company will be able to fulfil its obligations under the contract, that the Company's grid transition partners will recognize the benefit of Eguana's hardware and software development in North America, the success of product demonstrations, cash flow constraints, and product solutions, strategy and development.
Forward-looking statements are not a guarantee of future performance and involves a number of risks and uncertainties. Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Such factors include, but are not limited to, risks associated with: failure by the Company to improve cash flow which would have a material adverse impact on the viability of the business to continue operating; timely collection of accounts receivable; ability to raise capital in debt or equity, as needed, on appropriate terms; effective implementation and deployment of Eguana's products and solutions and building additional partnerships and developing existing partnerships; general economic, market and business conditions; competitive factors; achieving strategic objectives; inability to or delays in sourcing materials; production delays or certification delays: the Company's ability to roll out additional utility pilot programs and demonstrations or deployment; the operational effectiveness and efficiency of the products when in use by utilities; a slower adoption of energy storage technologies and other factors set out in the "Risk Factors" section of the Company's management's discussion and analysis for the three and six months ended June 30, 2024 and Company's management's discussion and analysis for the year ended December 31, 2023, which may be found on its website or at www.sedarplus.ca. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward-looking statements contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
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