Block ip Trap

Eguana Closes $20 Million Financing Round

25 Feb 2021

We are very excited to share that Eguana has just closed on a $20 million round of financing. We will be using this financing to reduce product costs, accelerate R&D of our battery system technology, and ramp up production to meet soaring market demand for energy storage systems.

Energy storage is needed now more than ever as we are seeing massive power outages across the U.S. and globally due to increasing extreme weather events and aging energy infrastructure. Eguana is committed to delivering highly efficient, reliable, and cost-effective technology, making energy storage more accessible to protect your homes and businesses.

ā€œIā€™m very proud of our team, who have worked tirelessly over the past few years, to position Eguana with a feature rich suite of products and fantastic partners in key areas including manufacturing, installation, and supply. We are also encouraged by the institutional support and will put this growth capital to good use by immediately accelerating our supply chain activities to bring additional predictability to our revenue streams by reducing the impact of COVID-19 driven logistics disruption. We will also accelerate the vertical integration of our battery supply chain giving the Company increased flexibility and advantage with new and emerging battery chemistries.ā€ - Eguana CEO, Justin Holland

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