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Eguana signs dev contract with battery manufacturer

2016-03-11 08:07 ET - News Release

Mr. Justin Holland reports
EGUANA EXECUTES DEVELOPMENT CONTRACT WITH GERMAN AUTOMOTIVE SUBSIDIARY
Eguana Technologies Inc. has entered into a development contract with the battery manufacturing subsidiary of a leading German automotive manufacturer.

"The entrance of automotive manufacturers into the stationary storage market signals a transition from the early integrators toward mainstream suppliers," said Martin Duerr, director of business development at Eguana Technologies. "The collaboration is under way, and it is already apparent that the outcome will set a new standard for energy storage products," added Mr. Duerr.
 
"Europe has been a strategic focus over the past several months and we are proud to have been selected by one of the leading brands in the global automotive sector to lend our expertise and deliver our patented technology. The automotive entrants have global reach so they can take full advantage of our globally certified platform," commented Justin Holland, chief executive officer at Eguana Technologies.

Under the terms of the agreement the partner will assume all prototyping costs and the companies have agreed to complete a commercial contract for product distribution upon customer acceptance of initial prototypes in May. The identity of the battery manufacturer cannot be released at this time in order to maintain customer confidentiality and for competitive reasons.
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