Today’s Company Spotlight goes to Eguana Technologies Inc. (TSXV: EGT). The Company designs and manufactures high performance power controls for residential and commercial energy storage systems. Eguana has more than 15 years’ experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications and delivers proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America.
A recent study states that the rapidly growing energy storage market could reach $16.5 Billion by 2024 and that by 2025, the cost of producing power in central and southern Europe will be between $0.04 – $0.06 per kilowatt hour.
Eguana intends to improve its supply chain and production flexibility, expand product development capabilities and improve the Corporation’s balance sheet with the recent $6.9 million financing they closed on June 30th.
Shares of Eguana were up $0.02 closing today’s trading session at $0.29.