Canadian energy storage firm Eguana Technologies is the latest global innovator to invest in South Australia’s booming battery sector under the Marshall Liberal Government’s Home Battery Scheme.
The $12 million investment will see the company, in partnership with its partner company LG, assemble and manufacture its cutting-edge Evolve home energy storage system here in Adelaide, creating up to 200 new jobs over the next three years.
Minister for Trade, Tourism and Investment David Ridgway said it’s another major coup for South Australia and comes on the back of German energy storage giant sonnen and Chinese battery manufacturer Alpha-ESS committing to manufacture and assemble their batteries in Adelaide.
“I’m pleased to welcome Eguana as the latest international company to invest in South Australia,” said Minister Ridgway.
“Based in Calgary, Eguana Technologies designs and manufactures high performance residential and commercial storage systems, so to be able to bring their skills and technology to South Australia is a significant win.
“Since we announced the Home Battery Scheme, we’re had fantastic global leaders such as Eguana knocking on our door to be a part of the largest rollout of home batteries in the world.”
Minister for Energy and Mining Dan van Holst Pellekaan said Eguana has two decades of experience delivering fuel cell, photovoltaics and batteries, and delivers proven high quality products from its high capacity manufacturing facilities in Europe and North America.
“Through our Home Battery Scheme, 40,000 South Australian households will have access to up to $6,000 from $100 million of both subsidies and low-interest loans to pay for the installation of home batteries and solar,” said Minister van Holst Pellekaan.
“South Australia is now unequivocally the world capital for home batteries thanks to the Marshall Liberal Government.”
This Home Battery Scheme is a core pillar of the Liberal Marshall Government’s strategy to improve affordability and reliability of power while attracting investment and jobs for South Australians.
Chief Technology Officer at Eguana Technologies Brent Harris said they are very excited to be a part of South Australia’s Home Battery Scheme.
“Today’s announcement confirms South Australia is a world leader in the utilisation of solar and battery technology,” said Mr Harris.
“The requirement for smart batteries is the first of its kind and the Evolve product was designed to support sophisticated programs that go beyond basic backup power and reducing consumption.
“We have already begun establishing our manufacturing capabilities in South Australia and look forward to providing choice to South Australian energy storage customers.”