NEWS!Eguana Delivers First Units to German Automotive Partner
CALGARY, ALBERTA--(Marketwired - June 13, 2016) - Eguana Technologies Inc. (TSX VENTURE:EGT)(OTCQB:EGTYF) is pleased to announce that it has delivered first units of the power control solution (PCS) developed for its German automotive customer. The units have passed all functional testing detailed in the specification of the previously announced development contract entered in to in March 2016:
Eguana Executes Development Contract With German Automotive Subsidiary
The completed PCS is on schedule for certification and on target for general availability through our partner in late 2016. Volume order negotiations have begun and the Company expects orders to begin shipping in the fall.
"With a general product availability target within 2016 the development teams were under significant pressure to deliver a custom product in less than 90 days," commented Justin Holland, CEO of Eguana. "Through a very tight collaboration this goal was achieved, functional testing was a success and the product will now be certified through the regulatory process and available this calendar year."
The identity of the battery manufacturer cannot be released at this time in order to maintain customer confidentiality and for strategic reasons