Eguana and ITOCHU Amend Unsecured Convertible Debenture Maturity Date to April 30th

Executive Summary

• Eguana Technologies Inc. has amended the maturity date of ITOCHU’s unsecured convertible debenture to April 30, 2026, extending runway while discussions on a longer‑term solution continue.
• The company highlighted progress on commercial and technical initiatives, including feeder improvements in Western Canada, a collaborative agreement with an Alberta electricity distributor, a partnership with Shadow Power for third‑party ownership models, and final testing of a Northern California virtual power plant (VPP) slated for rollout soon.
• Management expects the extended financing and ongoing projects to improve balance‑sheet positioning and drive increased volumes through utility channels in 2026.

Key Details

• Debenture Amendment: Maturity date pushed from its prior schedule to April 30, 2026; all accrued interest remains payable under the original terms.
• Financing Implication: Provides additional runway while Eguana and ITOCHU negotiate a longer‑term financing solution expected in Q2 2026.
• Commercial Initiatives:
• Completion of additional feeder‑improvement installations across Western Canada.
• Collaborative agreement with a leading Alberta electricity distributor to demonstrate distributed energy storage benefits.
• Partnership with Shadow Power to support third‑party ownership models for energy‑storage assets.
• Technical Milestones: Successful final testing of a Northern California Virtual Power Plant (VPP); rollout anticipated in the coming months.
• Management Outlook: CEO Justin Holland expects the extended financing and project progress to yield favorable balance‑sheet impacts and increased sales volumes through utility channels for the remainder of 2026.

Notable Quotes

“We remain in active discussions with ITOCHU and expect to finalize a long‑term solution within the second quarter, which we believe will have favorable balance sheet implications.” – Justin Holland, CEO
“We've seen continued success validating our hardware and software platforms across multiple VPP environments in both the U.S. and Canada, and we expect this to translate into increased volumes through our utility channels over the balance of the year.” – Justin Holland, CEO