“The team has worked diligently to build the largest order book in company history while successfully implementing our outsourced, low cost manufacturing model, and coordinating predictable deliveries from our supply chain” stated
Eguana’s operations team expedited the supply chain and by the end of the fiscal year reduced its lead times from 12 to approximately 6 weeks, positioning the Company to increase deliveries into a record and growing order book.
Holland continued, “I’m proud of the entire team. 2019 was a transitional year where a host of new product certifications were completed, consistent sales order growth has been achieved, and the bulk of the transition to low cost contract manufacturing has been executed. These objectives have brought predictability to the business which will drive improved financial metrics in the coming quarters.”
The Company’s Q4 revenue was over
The Consolidated Financial Statements and the Management Discussion and Analysis thereof are available on SEDAR at www.sedar.com
Fiscal 2019 Business Highlights
- Completed multiple significant distribution and sales partnerships
- Multi-year private label agreement with Hanwha Q-Cells, Europe’s PV leader and largest residential solar installer.
- Agreement with South Australian government’s Home Battery Scheme and qualified for the virtual power plant program of the second largest utility, Simply Energy.
- Completed Australian distribution partnerships with
AC Solar Warehouse and Sharpe ERS for regional and national distribution coverage. Partnered and trained over 15 South Australian installation companies. - Announced dedicated
California sales team, increasedUnited States channel partners to +60, including distribution coverage through CED Greentech outlets.
- Increased manufacturing and working capital capacity
- Completed Master Supply Agreement with Jabil Circuit for product manufacturing and working capital support.
- Completed agreement with
Export Development Canada to provide additional working capital support.
- Proved commercial capability in rapidly growing fleet aggregation and Virtual Power Plant applications with systems operational in
Australia , mainlandUSA , andHawaii . - Completed product certifications for the
United Kingdom ,France ,Australia ,Ireland , and the Scandinavian countries
“With our products and channels fully developed, focus will shift to growing market share in our key geographies of
About
Based in
With thousands of its proprietary energy storage inverters deployed in the European and North American markets,
To learn more, visit www.EguanaTech.com or follow us on Twitter @EguanaTech
Company Inquiries
CEO,
+1.416.728.7635
Justin.Holland@EguanaTech.com
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 pertaining to the value of our power controls to the energy storage market and statements concerning the use of proceeds and the Company's ability to obtain necessary approvals from the
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. Readers are also directed to the Risk Factors section of the Company’s most recent audited Financial Statements which may be found on its website or at sedar.com. 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
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