Eguana Tech Stock Price, News & Analysis

Eguana Technologies (EGTYF) has reached a settlement regarding its collaboration agreement with Duracell Power Center. Under the settlement terms, Duracell Power Center has paid a US$250,000 cash termination fee and will transfer ownership of US$1.1M in finished goods, including 5KW and 10KW Evolve systems, to Eguana.

Key terms include:

• Eguana will provide replacement parts during the remaining warranty period
• Duracell Power Center remains responsible for field support costs of warranty replacements
• Manufacturing credit available to Eguana increased by US$250,000 to US$1.45M, to be utilized within 36 months

The settlement enhances Eguana's finished goods inventory, supporting their feeder enhancement project in British Columbia and utility strategy, while providing near-term liquidity and reducing working capital requirements through 2026.

Eguana Technologies (TSXV: EGT) (OTC Pink: EGTYF) has announced a 10:1 share consolidation following shareholder approval at their September 26, 2024 annual general meeting. The consolidation will reduce the company's outstanding common shares from 451,956,022 to approximately 45,195,602.

The energy storage systems provider aims to increase its share price through this consolidation, potentially enhancing investor interest, reducing shareholder transaction costs, and improving trading liquidity. The consolidation, which remains subject to TSX Venture Exchange approval, was approved within a range of three to ten pre-consolidation shares for each post-consolidation share, with the board selecting the maximum 10:1 ratio.

Eguana Technologies (TSXV: EGT) has completed the integration of its Evolve platform with EnergyHub's Edge Distributed Energy Resource Management System (DERMS). This partnership marks Eguana's fifth DERMS integration, expanding its virtual power plant (VPP) capabilities across North America.

The integration enables Eguana's energy storage systems to participate in utility flexibility programs operated by EnergyHub, supporting grid reliability and cost reduction. The company will initially focus on Connecticut's Energy Storage Solutions program, which offers upfront and annual performance incentives with specific dispatch requirements.

The Evolve platform is designed to provide comprehensive VPP capabilities for both utility and consumer stakeholders, as utilities increasingly adopt advanced battery storage assets to enhance power grid infrastructure.

Eguana Technologies (TSXV: EGT) provided a business update highlighting significant financial challenges and management changes. The company is facing tight liquidity, with deferred amortization payments for January and February 2025. They secured a deferral of convertible debenture interest payments to August 31, 2025.

The company closed a short-term bridge loan financing of approximately $90,000 in February 2025, with participation from the CEO and a Board member. The loan carries a 4% monthly interest rate, due May 1, 2025. Additionally, the Board granted 3,450,000 incentive stock options at $0.05 per share.

In management changes, Neil D'Souza was promoted to VP of Engineering, Adebayo Adegbola to Director of Engineering, and Mohamed Safa to Director of Customer and Technical Service. CFO Hansine Ullberg resigned effective February 19, 2025.

Eguana Technologies (TSXV: EGT) provided a financial and operational update highlighting significant challenges. The company faces liquidity issues due to the underperforming renewable energy sector, with decreased consumer spending attributed to inflation and high-interest rates. A key USA customer's delayed payments and slower-than-expected sales from the BC Hydro collaboration have impacted short-term liquidity.

The company has delayed its January 15, 2025 loan payment and expects to enter technical default. Discussions with the senior lender are ongoing regarding a potential forbearance agreement. Despite market challenges, Eguana is pursuing utility sales channels and developing its software platform, including AI-driven enhancements to its Edge, Exchange, and Engage products.

Additionally, CTO Daljit Ghotra has resigned effective January 31, 2025. The company plans to recruit a new technical leader focused on software and cloud technologies to accelerate utility sales and generate recurring revenue.

Eguana Technologies reported Q3 2024 financial results showing revenue of $0.3 million, down from $2.5 million in Q3 2023, reflecting ongoing market challenges in the renewable energy sector. Operating loss improved to $2.7 million from $5.7 million year-over-year, driven by significant cost reductions. The company announced strategic moves into utility Virtual Power Plant channels, including an exclusive program with BC Hydro for a 200-unit pilot program. Working capital was negative $37.7 million, impacted by convertible debenture liability. The company secured a loan amendment extending amortization to May 2026 and plans to close its Australian subsidiary.

Eguana Technologies has been selected to supply its Evolve LFP energy storage systems in a pilot program with BC Hydro. The project involves installing one megawatt of storage capacity across 200 customer homes by spring 2025, with over two-thirds of customers already recruited and eight trained contractors ready for installations. The systems will be controlled through Eguana's Exchange fleet control software, integrated with Uplight's DERMS solution, to strengthen the local electricity grid and reduce peak loads. The project demonstrates advanced Virtual Power Plant functionality, offering demand response resources and feeder management capabilities through behind-the-meter networking.

Eguana Technologies provides financial updates regarding its debt restructuring and operational changes. The company is negotiating a loan amendment for its outstanding balance of US$6.45M, which went into default in October 2024. The proposed amendment would extend amortization to May 2026 and reduce monthly payments from US$383,378 to US$355,744. Eguana plans to issue new share purchase warrants while canceling existing ones. Additionally, the company announces the closure and liquidation of its Australian subsidiary to focus on North American utility channels. The company's stock has been moved from OTCQB to OTC Pink market under 'EGTYF'.

Eguana Technologies Inc. (TSXV: EGT) (OTCQB: EGTYF), a leading provider of high-performance energy storage systems, held its annual general and special meeting on September 26, 2024. Shareholders approved all presented matters, including:

• Fixing the number of directors at five
• Electing Michael Carten, Justin Holland, Karen Hayward, and George W. Powlick as directors
• Appointing MNP LLP as auditor
• Authorizing a potential share consolidation (3:1 to 10:1 ratio) within the next 12 months
• Updating the Company Stock Option Plan, increasing the maximum number of issuable shares to 44,895,600 (10% of outstanding shares)

All resolutions received 70% or more of eligible votes cast.