|By Marketwired .||
|April 3, 2014 10:37 AM EDT||
CALGARY, ALBERTA -- (Marketwired) -- 04/03/14 -- Eguana Technologies Inc (TSX VENTURE: EGT), a manufacturer of high performance power electronics for "smart grid" energy storage is pleased to announce that China's Patent Office has issued patents for the core technologies underlying the Company's Bi-Direx (energy storage) and Paralex (solar) inverter platforms.
China crossed a tipping point in 2013, installing more renewable energy (approx. 60%) than fossil fuel and nuclear generation combined, making it the largest renewable energy market in the world. China now generates more "green" electricity (1 trillion kilowatt hours/year) than the total electricity generated by the combined power systems (coal, nuclear and renewables) of France and Germany. (See: John Mathews (Macquarie Graduate School of Business) and Hao Tan (University of Newcastle Business School) How China's Renewables Revolution has Tipped the Scales, Australia, March 24, 2014). http://reneweconomy.com.au/2014/chinas-renewables-revolution-tipped-scales-82321
According to Mathews and Hao Tan, electricity from renewable energy resources in China represented approximately 20% of total electricity from all source in 2013. The official target is to have 30% of all electricity generated by renewable energy by 2020: - a goal that now seems very achievable.
"This growth trajectory will drive demand for energy storage for the same reasons that the high penetration of wind and solar is driving demand in Germany. Specialized power electronics performing power management and providing seamless connectivity to the power grid are critical to every system."
"In less than a year, Eguana has emerged as the technology leader in storage electronics, and we have had multiple enquiries in the past few months from Chinese firms about gaining access to the Bi-Direx technology. These new patents will allow us to engage with these companies with greater confidence," said Michael Carten CEO of Eguana Technologies Inc.
Eguana's patents are originally issued by the US Patent Office and filed as standard procedure in all the leading potential markets under the Patent Co-operation Treaty.
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.
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.
Eguana Technologies Inc.
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