The Energy Report
Source: Streetwise Reports 03/06/2019
The two firms will collaborate to sell a home energy solution that encompasses both AC and photovoltaic power.
Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) announced in a news release that it entered into an exclusive agreement with Hanwha Q CELLS GmbH to market, sell and distribute Eguana’s Enduro home energy storage system, under the Q CELLS brand, in the European Union, Switzerland and Norway.
Hanwha Q CELLS GmbH, the German subsidiary of South Korea’s Hanwha Q CELLS Co. Ltd., is a large solar cell and module manufacturer, according to the release. Also, according to EuPD Research, it was the market leader in Germany’s solar module market in 2018, during which it completed installations for more than 15,000 customers.
Get our Weekly Commitment of Traders Report: - See where the biggest traders (Hedge Funds and Commercial Hedgers) are positioned in the futures markets on a weekly basis.
Get Our Free Metatrader 4 Indicators - Put Our Free MetaTrader 4 Custom Indicators on your charts when you join our Weekly Newsletter
“This partnership is a natural fit for both companies,” Eguana CEO Justin Holland said in the release, referring to his company and Hanwha Q CELLS GmbH. “Home storage systems are included in over 50% of new solar systems currently sold in Germany, and standard solar plus storage packages support the fastest market penetration potential.”
Eguana’s Enduro is an AC-coupled option that allows homeowners to use their own photovoltaic-generated electricity whenever they need it. This capability lowers utility bills and also provides emergency backup power via an integrated power outlet.
“The Eguana Enduro is the product that best exemplifies our commitment to best-in-class products, quality and reliability for our consumers and Q PARTNERS,” Vincent Lim, head of business development and system solutions at Q CELLS, said in the release.
Under the agreement, the initial order is for 500 units, “which extends the exclusivity period into the second contract year, with an additional minimum of 1,500 units through the second contract year for Q CELLS to maintain and extend exclusivity into the third year,” according to the release.
Read what other experts are saying about:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Eguana Technologies. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Eguana Technologies, a company mentioned in this article.
( Companies Mentioned: EGT:TSX.V; EGTYF:OTCQB,