In a news release, Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB) announced that "it has received a new series of purchase order releases totaling approximately $1.8 million from Hanwha Q Cells GmbH (QCells)." The company indicated that shipments are expected to occur over the next two quarters and advised that the scheduled deliveries will serve to provide a minimum monthly baseline demand that will facilitate stabilization of the supply chain and manufacturing operations.
The company's CEO Justin Holland commented, "The monthly baseline order commitment from QCells is a significant step forward and will bring steady demand over the coming quarters and the manufacturing consistency will improve product margins. Additionally, the small compact design of the Enduro, with its one person install capability, has allowed QCells installers to continue to work safely throughout this difficult period and conform to Germany's stringent two person social distancing guidelines while maintaining installation capability."
The firm stated that in spite of recent global supply chain disruptions and manufacturing interruptions due to the COVID-19 situation, it has successfully been able to manage material issues and maintain product supplies to QCells throughout the pandemic. The company said it has now reopened the contract manufacturing facility in Naples, Italy, that manufactures the QCells AC coupled energy storage solution (Q.HOME+ ESS AC-G2).
The firm noted that the new QCells orders combined with new orders for the U.S. and Australian markets have increased product demand to above pre-coronavirus levels. The company anticipates shipments will begin to increase later this month and continue through year end.
Eguana Technologies is a designer and manufacturer of high performance residential and commercial energy storage systems headquartered in Calgary.
Read what other experts are saying about:
Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Eguana Technologies. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Eguana Technologies. Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Eguana Technologies, a company mentioned in this article.
