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Germany's Fraunhofer Institute Selects Eguana's Bi-Direx Energy Storage Inverter for Smart Grid Energy Storage Research(Marketwire Via Acquire Media NewsEdge) CALGARY, ALBERTA -- (Marketwired) -- 03/19/14 -- Eguana Technologies Inc (TSX VENTURE: EGT), a manufacturer of high performance power electronics for "smart grid" energy storage is pleased to announce that the Smart Grid Research Group of Germany's prestigious Fraunhofer Institute has selected Eguana's Bi-Direx inverter as the control platform to be used in developing creative control strategies that will allow distributed energy storage systems to contribute to load balancing strategies implemented by utilities and energy aggregators. "Smart "edge-of-grid" power electronics will be a critical element of the system control strategies that will make decentralized residential and commercial storage capacity available to the power grid for load balancing in real time," said Brent Harris, CTO of Eguana Technologies Inc. "Fraunhofer specifically chose Bi-Direx for its flexibility and advanced high speed bi-directional controls which enable the storage systems to react in real time to capacity and pricing signals from the grid. We are very proud to be part of this ground breaking research," Harris added. In the US, distributed energy storage - i.e. decentralized systems "distributed" around the power grid is expected to drive growth in distributed generation from the current level of 1% of total installations to as much as 1/3 of America's installations by 2017. (The Economist, March 8 2014, Devolving Power: Big batteries threaten big power stations and utilities' profits) http://www.economist.com/news/business/21598668-big-batteries-threaten-big-power-stationsand-utilities-profits-devolving-power In Germany, Navigant Research is predicting a $3.6 billion per year market in energy trading by 2020, where energy aggregators are expected to gather portfolios of smaller generation and storage systems to match load fluctuations through forecasting, advance metering and computerized control. Performing real-time optimization of energy resources, these virtual power plants represent an 'Internet of Energy,' tapping existing grid networks to tailor electricity supply and demand services for a customer. Bi-directional inverters, like Eguana's Bi-Direx inverter, which are able to seamlessly move from charge to discharge mode; and to respond in real time to capacity and pricing signals from the power grid will be essential components. About Fraunhofer ISE With a staff of above 1200, Fraunhofer ISE is the largest solar energy research institute in Europe. The Institute plans, advises and provides know-how and technical facilities and services. The work at the Institute ranges from the investigation of scientific and technological fundamentals for solar energy applications, through the development of production technology and prototypes, to the construction of demonstration systems. The Fraunhofer Institute's Smart Grid Research Group was a key contributor to the design of the incentive program for distributed energy storage in Germany. Fraunhofer's research with Bi-direx will build on the group's work over the past nine years that has enabled distributed combined heat and power systems to be dispatched on an aggregated basis to achieve these same goals, but will focus on quantifying the unique capabilities and limitations of storage systems in this application. Fraunhofer ISE is integrated into a network of national and international co-operation. Among others, it is a member of the ForschungsVerbund Erneuerbare Energien (FVEE - German Research Association for Renewable Energy) and the European Renewable Energy Research Centres (EUREC) Agency. About Eguana Technologies Inc: Headquartered in Calgary, Alberta, Canada, Eguana Technologies Inc. designs and manufactures intelligent high performance low-voltage power electronics platforms for distributed smart grid and energy storage applications. Eguana's software configurable platform enables energy storage systems to optimize the lower cost, modularity and safety advantages of low voltage advanced battery technologies at a much lower cost, and with greater design flexibility than is possible with conventional power electronics solutions. To learn more, visit www.EguanaTech.com or follow us on Twitter, https://twitter.com/EguanaTech. Forward Looking Information The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, we include: statements concerning the features of our energy storage inverter and its value for energy storage system. Forward-looking information is 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. 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 information 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. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contacts: Eguana Technologies Inc. Michael Carten CEO +1.403.508.7177 ext 111 [email protected] www.EguanaTech.com Source: Eguana Technologies Inc. |