AES to Convey Eguana Evolve Solar + Storage Options to

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Eguana Secures Manufacturing and Licensing Agreements

CALGARY, Alberta and ATLANTA, December 1, 2021 (GLOBE NEWSWIRE) – Eguana Technologies (TSX.V: EGT) (OTCQB: EGTYF), an industry leader in intelligent energy storage solutions, announced today that Alternative Energy Southeast (AES.)) , one of Georgia’s leading rooftop solar and storage providers, has won an opening contract worth 2.1 million euros.

Eguana’s Evolve range of intelligent energy storage solutions provides energy independence and resilience to homeowners with existing PV systems and consumers considering investing in rooftop solar systems. The 5kW Eguana Evolve provides a basic capacity of 14kWh and can be expanded to up to 42kWh in order to guarantee several days of power reserve if necessary. The 10kW Evolve Max offers a base capacity of 28 kWh and is the ideal platform for homeowners looking for an emergency power supply for the whole house. Both Evolve systems, which have full VPP (Virtual Power Plant) capabilities, are housed in NEMA 3R certified enclosures that allow indoor or outdoor installation with maximum design flexibility. 5kW Evolves are now available from numerous certified Eguana partners across North America, with the Evolve Max expected to be available in January 2022.

“We are very excited to welcome the entire Alternative Energy Southeast team to our growing partner network as we continue to expand across the country,” said Livio Filice, Director of Sales at Eguana. “With the introduction of the Evolve Max energy storage system, Eguana remains exceptionally positioned as the only energy storage company with multiple battery chemistries and a wide range of power and capacity options to meet the growing needs of homeowners with state-of-the-art storage solutions.”

Eguana Evolve products are perfect for homeowners looking for durable, affordable, noise and emission free solar powered power sources. Alternate Energy Southeast has placed an initial $ 2.1 million contract with Eguana and has begun active planning of initial installations across Georgia. Product shipped direct from Eguana’s San Jose, California manufacturing facility with future systems available for delivery within the next 12 months.

Product line Evolve – Home Energy Storage Systems

Evolve and Evolve Max are fully integrated residential energy storage systems that incorporate the company’s own power electronics system, lithium iron phosphate low voltage battery modules and a comprehensive user interface. The Evolve system has a nominal output of 5 kW alternating current with a modular battery design based on a 3.5 kWh battery, the storage capacity of which is scalable from 14 to 42 kWh. The Evolve Max system has a nominal output of 10 kW AC with an energy capacity from 42 kWh, expandable to 84 kWh. The wall-mounted package NEMA 3R is suitable for indoor and outdoor installations. The package comes with a standard 10 year warranty.

The Evolve supports grid-connected solar self-consumption, service life and emergency power supply. It is now available in the United States and Caribbean markets with certification standards of UL1741, California Rule 21, and Hawaii Rule 14H.

Interested parties can contact:

Eguana Technologies
Livio Filice
Director of Global Sales
Livio.Filice@EguanaTech.com
+1.905.929.7522

About Eguana Technologies Inc.

Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF), based in Calgary, Alberta, Canada, develops and manufactures high-performance energy storage systems for homes and businesses. Eguana has two decades of experience providing grid-edge power electronics for fuel cell, photovoltaic and battery applications, delivering proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America.

With thousands of its proprietary energy storage inverters used in the European and North American markets, Eguana is one of the leading providers of power controls for solar self-consumption, grid services and demand-based charging applications at the edge of the grid.

To find out more, visit www.EguanaTech.com or follow us on Twitter @EguanaTech

To theward looking for information

The reader is cautioned that some of the information contained herein may constitute forward-looking statements within the meaning of National Instruments 51-102 and other relevant securities laws. Specifically, we include: statements about the value of our power controls to the energy storage market; and statements about how the proceeds will be used and the company’s ability to obtain required approvals from the TSX Venture Exchange.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Many factors could cause actual results, performance or achievements of the company or future events or developments to differ materially from those expressed or implied in the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this release. Readers are also directed to the Risk Factors section of the company’s latest audited financial statements, which can be found on its website or at sedar.com. The company undertakes no obligation to publicly publish changes to the forward-looking information contained herein to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unforeseen events, except as required by applicable securities laws.

Neither the TSX Venture Exchange nor its regulator (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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