Energy storage firm Eguana buys Australian Solarlab

Canadian energy storage systems developer Eguana Technologies Inc (CVE:EGT) has unveiled the acquisition of Australian commercial rooftop solar and energy storage solutions provider Solarlab Pty Ltd to bolster its virtual power plant (VPP) and home builders offering.

The value of the transaction remained undisclosed.

Founded in 2017, Solarlab designs and makes solar installations across the country, both small and large-scale residential and commercial grid connected and off-grid battery systems. The Adelaide-based firm also offers other energy efficiency and air conditioning services.

“Consolidating the design and installation of our energy storage systems strengthens our relationship with utility partners as well as the deployment of virtual power plants, which are set to play a key role in the Australian market,” Eguana CEO’s Justin Holland noted in a press release.

Calgary, Alberta-based Eguana manufactures residential and commercial energy storage systems at its production facilities in Europe, Australia and North America. It counts Japanese general trader Itochu Corp as a backer.

Choose your newsletter by Renewables Now. Join for free!