Energy Tech Company Unlocks Virtual Power Solutions Across North America

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The quoted article represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be  only be construed as a recommendation or solicitation to buy and sell securities.

Eguana Technologies Inc. (EGT:TSX.V; EGTYF:OTCQB), a leading provider of high-performance energy storage systems, announced it has integrated its Eguana Evolve virtual power plant (VPP) platform with EnergyHub's Edge Distributed Energy Resource Management System (DERMS).

The partnership fully integrates another DERMS provider with the platform, opening additional VPP opportunities across North America, the company said.

"The team is very happy to complete this integration with EnergyHub opening access to additional utility and energy markets programs," said Chief Executive Officer Justin Holland. "We currently have direct utility procurement and demonstration programs going on in a number of North American markets, this partnership will provide additional opportunity for consumers to acquire a backup power system at an affordable price point, that also helps improve grid reliability and reduce costs for all utility customers."

VPPs use smart batteries at the edge of the grid (the homes and businesses that use the energy) tied to software that helps distribute and store energy in the batteries when it's not needed and makes it available to the grid at peak times.

With the demand for power for things like artificial intelligence (AI), computer data centers and electric vehicles (EVs) skyrocketing, the power crunch is here.

Technical Analyst Clive Maund, while recommending the stock as a Strong Buy, agreed that "problems with the traditional energy grid are set to worsen considerably."

"You can only put so much power through that substation when you go from main grid to feeder line, you simply don't have two bridges to the feeder line," Holland has said. "When you've got growth (from) EVs, data centers, AI, population, it doesn't matter.  Any growth.  Now you've outstripped the capacity of the substation at peak periods."

Holland continued, "Now what they can do is they can load grid connected batteries overnight. Then, they can draw backwards out of the battery. So, there's no longer overcapacity at the substation; and seamless to the consumer."

*Technical Analyst Clive Maund, while recommending the stock as a Strong Buy, agreed that "problems with the traditional energy grid are set to worsen considerably."

"What matters is that the traditional grid system is at the threshold of a major transformation into the new distributed grid system, and Eguana is centrally positioned to be a part of this transformation," Maund wrote.

Fifth DERMS Integration Partnership

The partnership will enable Eguana energy storage systems to participate in utility flexibility programs operated by EnergyHub, "helping deliver a more reliable, affordable power system for electricity consumers," Eguana said.

Eguana will first focus on supporting Connecticut's Energy Storage Solutions program, which offers a generous up-front incentive along with an annual performance incentive, both with stringent dispatch requirements.

Eguana said it is its fifth DERMS integration partnership "providing blanket access for utility driven VPP programs across North America."

No More 30-Year Bets

According to a report by the International Energy Agency, the situation has escalated dramatically "into a full-blown global energy crisis" after Russia's invasion of Ukraine, with natural gas prices reaching record highs and oil prices rising.

To keep up with demand and what is being called the "electrification super cycle," Eguana noted that global electricity needs to double in 30 years, and "current infrastructure cannot manage this growth."

To upgrade traditional feeders, utilities must plan years in advance and commit large amounts of capital to upgrading the system. Eguana's Evolve and Edge systems give utilities flexibility to increase feeder growth incrementally.

"They don't have to make a 30-year bet now," Holland said. " They can build the capacity of that feeder line as they need it.  They defer tons of capital, and they get immediate relief on the power grid. The electrification super cycle is coming."

According to the company, 80 to 160 gigawatts (GW) are expected to be managed by VPP's by 2030, a 167% increase in seven years.

The energy storage market is expected to be worth US$250 billion by 2030 with a compound annual growth rate (CAGR) of 16%, Eguana noted.

According to the Solar Energy Industries Association, VPPs are set for "massive growth thanks to the 2022 Inflation Reduction Act, which created or enlarged tax incentives for EVs, electric water heaters, solar panels, and other devices."

Stock at 'Point of Liftoff'

Technical Analyst Maund noted that the stock looked like it has "arrived at the point of liftoff" after a "long and challenging road."

"The reason that Eguana presents an outstanding opportunity for investors in light of the above is that this is a stock that once traded as high as CA$55 back in the year 2000, soon after the company began, and is now trading at just 1 cent despite all that it has developed in the intervening years," he wrote.

Maund pointed out what he called "the crudity and wastefulness" of the current approach to electricity distribution.

"Eguana Edge provides feeder line upgrades in real-time," the analyst wrote. "What this means is that load capacity is scaled higher incrementally in response to and in advance of increased demand rather than in a crude piecemeal fashion as in the past, which involved major investment ahead of time in capacity that oftentimes was never fully utilized."

On its charts, Maund said Eguana "has been basing at a very low level for almost a year."

However, since last September, the stock's Accumulation line has been driven higher.

"This volume action is bullish and strongly suggests that the base pattern is genuine and will lead to the birth of a new bull market," he said. "We are at an optimal time to buy the stock from a price/time perspective since buyers here could net substantial or even very large percentage gains relatively quickly should it complete the pattern soon and break out into a new bull market as looks probable."

Maund said Eguana was viewed as a stock with an exceptionally positive risk/reward ratio and rated a Strong Buy for all time horizons. The first target for an advance is CA$0.06 – CA$0.07. The second target is CA$0.10, and the third is CA$0.20.

Ownership and Share Structure

According to the company, about 0.5% is owned by management and insiders, and 24.6% is held by the Japanese ITOCHU Corp.

The company has 451.96 million shares outstanding and a market cap of CA$6.81 million, according to Reuters. Its 52-week range is CA$0.01 and CA$0.02.