© Jabil - for illustrative purposes Electronics Production | September 18, 2019
Jabil to manufacture energy storage systems for Eguana
Eguana Technologies says it has completed a multi-year master supply agreement with Jabil to manufacture Eguana's residential and commercial energy storage systems.
"Given the success the company has had building out our distribution and dealer network we needed a manufacturing partner with the ability to produce around the world, with an engineering and design core competency, and a global supply chain and logistics network," says Justin Holland, Eguana CEO, in a press release. "Jabil has over 100 manufacturing sites and more than 200,000 employees, providing Eguana the scalability and reliability required to service our customer base and growing demand." "Jabil is actively participating in transformative emerging markets for energy storage and distributed power. We are excited that Eguana has selected Jabil as a global manufacturing partner to realize its strategic objectives," William L. Mitchell, Senior Director of Corporate Investment of Jabil, added. Eguana has also confirmed it has secured working capital support from Export Development Canada (EDC). "Having EDC's support for working capital is a significant step forward for Eguana. As orders continue to scale working capital becomes critical to recognizing revenue, and this agreement immediately lowers our cost of capital and allows us to get Jabil started immediately," Holland said. Jabil will initially focus on QCELLS Enduro production. Evertiq has reached out to Jabil with questions regarding where the manufacturing will take place but have not received any comments.