Source: Eguana Technologies

Two tech companies are joining forces to benefit the power grid and reduce energy costs.

Energy storage system developer Eguana (TSXV:EGT) and cloud-based software-as-a-service (SaaS) company, Virtual Peaker are combining their respective technologies.

This partnership will allow utilities supported by Virtual Peaker’s distributed energy resource management system (DERMS) suite called “Shift” to connect with any internet-connected Eguana energy storage system.

Utilities can enroll, deploy, and manage bring your own device (BYOD) demand response programs through Virtual Peaker’s integrated enrollment management framework.

Virtual Peaker’s Director of Technology Partnerships, Eric Van Orden, commented, “Customers with Eguana storage systems will now have greater access to financial benefits from residential demand response programs, and utilities will have access to new flexible load at a reduced cost.”

Eguana’s Chief Technology Officer, Daljit Ghotra added, “Together, Eguana and Virtual Peaker are able to leverage advanced power systems and dynamic DER management to deliver reliable power and financial incentives to battery owners while supporting utility grid modernization.”

About Virtual Peaker:

Virtual Peaker is a cloud-based distributed energy company that empowers modern utilities to build the grid of the future and meet global decarbonization goals.

About Eguana Technologies:

Eguana designs and manufactures high performance residential and commercial energy storage systems. The company offers power electronics for fuel cell, photovoltaic and battery applications from its manufacturing facilities in North America, Australia, and Europe.

Earlier this month, Eguana received a $5 million initial order for its 10kW/28kWh whole home energy storage systems. Shipments have commenced with completed installations in Florida, San Jose, and Calgary. Click here for more on that news.

Eguana Technologies Inc. (EGT) opened trading at $0.17 per share.

The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.

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