E-Gear, an innovative software company for energy management and storage solutions, announced this Thursday it partnered with Eguana Technologies. It is a Canada-based manufacturer of energy storage solutions.
Firstly, the agreement is a master licensing agreement. Under it, Eguana has the right to integrate E-Gear’s energy asset management and aggregation platform into current and future versions of its residential energy storage solutions.
On the one hand, Eguana will have the right to develop the code of E-Gear’s software. However, E-Ger will retain the ownership of the original source code. It will also be able to further develop and utilize it in its various product lines.
Neither companies revealed the commercial terms of the agreement. Chris DeBone, Co-founder of E-Gear, said it was a win-win for both. He also remarked. “This agreement leverages years of capital investment into our industry-leading energy management platform. Licensing will allow best-in-class storage manufacturers such as Eguana Technologies to accelerate entry into the rapidly developing advanced grid services arena.”
In addition, Eguana CEO Justin Holland added. “For Eguana, incorporating these capabilities into our residential and commercial storage solutions enables us to take direct control of the customer experience and create valuable virtual power plant assets.”
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E-Ger agreed to merge with Pineapple Energy
He also remarked that by optimizing the supply of power into the grid, the company would create further revenue opportunities. “Given our long history with E-GEAR, we also expect to continue collaborating and drive platform excellence as we take internal control ensuring a competitive edge with respect to energy management.” He concluded.
On the other hand, E-Gear agreed on a merger with Pineapple Energy. It is a company focused on acquiring solar, storage, and also energy services companies nationwide. Pineapple’s vision is to power the energy transition through grass-roots growth of solar electricity paired with battery storage on consumers’ homes.
Therefore, the Eguana-E-Gear partnership further advances Pineapple’s footprint and capabilities in the grid management services field. About such matter, Kyle Udseth, Co-Founder and CEO of Pineapple, noted. “This Eguana licensing agreement is a prime example of how we can monetize our technology while bringing more advanced energy services to market, helping both customers and the grid.”
Finally, he remarked. “Bringing E-Gear into the Pineapple family is a cornerstone of our proprietary technology and management expertise, and I’m excited to work with Chris and the team to further expand on these offerings.