TORONTO, Oct. 11, 2018 (GLOBE NEWSWIRE) -- Eguana Technologies Inc. (TSX-V:EGT, OTCQB:EGTYF), a globally-recognized technology leader in power conversion and control systems for distributed energy storage, today announced the appointments of Mr. Marcus Brunner as Chief Sales Officer and Dr. Andreas Rueckemann as Director of Sales Europe.

“Mr. Brunner, the former Chief Sales and Marketing officer at Mercedes-Benz Energy, has an extensive history of sales and marketing execution including Mercedes-Benz, General Electric, Zumtobel and Avnet Technologies Solutions. Under his leadership we expect to accelerate growth in all global markets,” stated Justin Holland, Eguana’s Chief Executive Officer. “Prior to his role as Head of Sales Europe for Mercedes-Benz Energy Dr. Rueckemann was a serial entrepreneur in the cleantech space with executive level focus on strategic branding and international sales.”

“Both Dr. Rueckemann and myself are very familiar with the Eguana brand and its best in class technology,” added Mr. Brunner. “We are looking forward to bringing our experience with building world class companies on an international scale and particularly in the area of sales and marketing with strategic branding initiatives.”

“Eguana’s Enduro product is perfectly positioned for the European markets, with our existing relationships and networks we should see success early and often,” added Dr. Rueckemann. “We have also identified volume opportunities for the Elevate product, which fills a current gap in the market in Europe.”

The Company confirmed its 3-phase commercial system, Elevate, will be certified for European and Australian markets, roll-outs will begin in the spring of 2019.

As part of his compensation Mr. Brunner has been issued 250,000 options with an exercise price of $0.19 with a third vested immediately and the remaining two thirds vesting annually over the next two years.

About Eguana Technologies Inc.

Based in Calgary, Alberta Canada, Eguana Technologies (EGT: TSX.V) (OTCQB: EGTYF) designs and manufactures high performance residential and commercial energy storage systems. Eguana has two decades of experience delivering grid edge power electronics for fuel cell, photovoltaic and battery applications, and delivers proven, durable, high quality solutions from its high capacity manufacturing facilities in Europe and North America.

With thousands of its proprietary energy storage inverters deployed in the European and North American markets, Eguana is one of the leading suppliers of power controls for solar self-consumption, grid services and demand charge applications at the grid edge.

To learn more, visit www.EguanaTech.com or follow us on Twitter @EguanaTech

Forward Looking Information

The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, we include: statements pertaining to the value of our power controls to the energy storage market and statements concerning the use of proceeds and the Company's ability to obtain necessary approvals from the TSX Venture Exchange.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. Readers are also directed to the Risk Factors section of the Company’s most recent audited Financial Statements which may be found on its website or at sedar.com. The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.