By Anthony Capkun
November 27, 2013 – Sustainable Energy Technologies Ltd.—a supplier of power conversion for battery-based energy storage and residential & commercial energy management systems—has recently changed its name to Eguana Technologies Inc.
“The name change signals a strategic decision to focus on the emerging solar energy storage sector,” said Michael Carten, CEO of Eguana. “Battery-based energy storage for smart grids and micro-grids is on its way to creating a major paradigm shift in the power industry and driving a billion-dollar opportunity over the next four years.”
How did they arrive at this new name? According to the company, iguanas spend most of their time in the sun, storing energy for use at night. They are highly adaptable to different environmental conditions, and enjoy a 20-year life expectancy. “We believe that iguanas and our smart inverters have a lot in common,” says Eguana.