Wedoany.com Report-Nov 28, Eguana Technologies Inc. (TSXV: EGT) ("Eguana" or the "Company"), a leading provider of high-performance energy storage systems, is pleased to announce that it has been selected as the supplier in a pilot offer with 200 customers, for the installation of a megawatt of its Evolve LFP energy storage system with BC Hydro, a WesteCanadian utility. BC Hydro has recruited over two thirds of the customers, with eight Eguana-trained electrical contractors engaged and ready to install the first units this year and targeting all installation to be completed by spring 2025.
The systems will be deployed in customer homes, within the utility service territory and have the primary objective of strengthening the local electricity grid, while reducing system peak loads. Battery charge and discharge functions will be controlled using Eguana's Exchange fleet control software module, a pillar of the Eguana Cloud platform, responding to dispatch signals from the utility's DERMS solution provider, Uplight, a clean energy technology company that enables utilities and power providers to conserve, deploy, and manage energy resources.
"This project is a bellwether for the industry," said Brent Harris, CCO of Eguana. "It will greatly enhance existing Virtual Power Plant programs that were built by aggregating customer-owned assets like smart thermostats and EV chargers, by allowing faster deployment of significant energy storage assets, providing reliable curtailment and management of devices. We believe utility engagement, provision of resiliency services to customers, and ancillary services to the system operator through advanced fleet management, will become the accelerated path for distributed energy storage and VPP deployments throughout North America."
A Virtual Power Plant, or VPP, provides Megawatt level demand response resources to utilities by networking and dispatching hundreds of smaller, behind-the-meter resources in unison. Eguana's products deliver traditional VPP functionality, along with additional advanced feeder management capabilities. These advanced features become especially valuable where a high capacity is installed on single feeder lines.
Eguana's products are also registered with the BC Hydro's commercial and residential bring-your-own-device programs and are managed through the same Eguana Exchange / DERMS interface and dashboard, however with different operating parameters. This pilot follows several smaller successful demonstration projects that have been executed over the past year, with the same utility.
"Eguana's hardware and software platforms have been developed and manufactured in North America, which provides utility partners with additional confidence," added Eguana CFO Hansine Ullberg. "Our grid transition partners will recognize this benefit as they move towards utility owned and controlled assets that support the clean energy transition, reduce and defer major capital spend, and provide much needed capacity and resiliency to the power grid."
