2015-12-08 10:29 ET - News Release
Mr. Justin Holland reports
ITOCHU AND EGUANA COMPLETE GLOBAL MARKETING AGREEMENT
Eguana Technologies Inc. and Itochu Corp., headquartered in Minato-ku, Tokyo, have entered into a formal marketing agreement.
"We are very pleased to have Itochu as a partner, with their tremendous reach across the entire energy storage sector Eguana products will be marketed on a global scale," commented Justin Holland, chief executive officer of Eguana. "We will begin with the launch of our commercial AC battery in the United States, followed by residential and commercial product availability for Japan and Europe in the second half of 2016."
"Eguana's technology flexibility and AC battery products are well designed to fill the current gap in small commercial and residential areas of the distributed energy storage market," said Hiroaki Murase, manger of Itochu. "We will leverage our experience and expertise within the energy community to promote and market the product globally." Under the terms of the strategic alliance, Itochu will provide non-exclusive marketing and sales agency services related to Eguana's residential AC battery and commercial AC battery. Eguana in turn will provide sales commissions for contracts negotiated on its behalf.
We seek Safe Harbor.