Eguana Technologies (EGT) (EGTYF) is pleased to announce that it has licensed the energy management system (EMS) Cloud platform from its long-standing partner E-GEAR LLC. Under the agreement, Eguana will take control of operation and development of the same cloud platform it has been using for several years in the US energy storage market and will also manufacture the site controller hardware. The site controller firmware and IoT network will continue to be developed and maintained by E-Gear LLC.
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“This agreement is a win-win for both E-GEAR and Eguana.” Commented Chris DeBone, co-founder of E-Gear, “we are monetizing the significant investment made over the years to develop our industry-leading energy management system, which offers advanced control and monitoring capability. At the same time, we will continue to develop this product into an even more sophisticated driver of smart grid capabilities.”
“This step takes our integrated energy storage system forward in a very big way” added Eguana Founder and EVP Brent Harris, “over the past few years we have worked closely with E-Gear to move the fully integrated solution forward for consumers and position Eguana to provide grid services for recurring revenue streams. Under the agreement Eguana will take control of the customer experience as we expand across the USA and directly offer a complete Virtual Power Plant solution to customers while simplifying the entire process.”
The agreement is effective immediately and the parties have begun collaboration on the transition which is expected to occur over the next several months.
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