Eguana’s vision is to become a global leader in residential and small commercial grid tied energy storage systems. Strategically the Company remains focused on product standardization with pre-integrated, factory assembled, software driven energy storage systems with flexible capacity and an open controls interface to support locally optimized energy management software. In 2017 the Company aligned the following objectives to this strategy;

Build key relationships in the United States, Europe, and Australia
Convert 2016 design wins into partner contracts
Technology advancement in residential and small commercial platforms
Expand human resource, operational, and development capacity

Fiscal 2017 proved to be a transformative year for Eguana as the Company successfully collected over +7 million in purchase orders, executed distribution and partner agreements in targeted markets and increased our gross margin by 25.5%. We have expanded business development activities with key relationships in high growth jurisdictions including Ontario, New York, and California and expect each market to deliver revenue in the coming year.

The core foundation of the Company is our technology. Eguana’s development team completed second generation product platforms with patented technology advancements including remote diagnostics, battery pre-charge and auto recovery, with single step installation. We have broadened our global product portfolio with multiple certifications, defined our cost reduction roadmap, and completed investment in our development lab that doubled in-house capability.

In 2018 Eguana will build on this foundation with an aggressive sales and marketing approach with new product launches in both residential and commercial channels. This will include Europe’s self-consumption market, the United States’ electric vehicle market and small commercial markets, and a private label product launch in Australia.

Hawaii, where revenue was delayed by two quarters as a result of battery availability and permitting delays, is now gaining traction, multiple volume shipments have been made and the Company has gained a 40% market share in the Customer Grid Supply market on Oahu. Management expects continued growth throughout the year. In Australia, our announced partner has been slow to roll out committed AC Batteries due to company reorganization. Management expects Australia will become a significant revenue driver in 2018.

Eguana is dedicated to providing world class products, people, and technology in a global marketplace. As such, the Company will continue to drive to excellence in culture, responsibility, accountability, and awareness. Through 2018 we will expand our team to provide technical “hands on” leadership in Germany, Australia, and the United States. Our goal will be to support the Eguana branded product launches, partner support and training programs, and to ensure best in class product reliability, installation, and customer experience.

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