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Doughty Hanson Technology Ventures Invests in Eguana–s Future-Converts Preferred Shares Into Common Shares

CALGARY, ALBERTA — (Marketwired) — 12/08/14 — Eguana Technologies Inc (TSX VENTURE: EGT) (“Eguana” or the “Company”), a technology leader in power conversion and control systems for “distributed” or “edge of grid” energy storage systems, announced today that affiliates of Doughty Hanson Technology Ventures (“DHTV”) have caused the automatic conversion of all the Series of First Preferred Shares of which DHTV is the majority holder into common shares of the Company (the “Common Shares”) on December 8, 2014.

The conversion will result in First Preferred Shares valued at $13,346,571 including accrued and unpaid dividends being converted into 22,559,288 Common Shares – an average conversion price of $0.59 per share.

“Doughty Hanson–s decision to convert the First Preferred Shares is an unambiguous statement of its confidence in the future potential of Eguana,” said Michael Carten, Chief Executive Officer of Eguana. “This is a positive move for the Company, creating alignment of our largest shareholder with the entire shareholder base.”

All shares of the Series 7 First Preferred Shares, Series 9 First Preferred Shares, Series 10 First Preferred Shares, Series 11 First Preferred Shares, Series 12 First Preferred Shares, Series 13 First Preferred Shares and Series 14 First Preferred Shares have been automatically converted into Common Shares effective as of December 8, 2014.

After giving effect to the conversion a total of 61,568,713 Common Shares are issued and outstanding.

DHTV is acquiring 19,697,497 Common Shares to hold a total of 25,697,497 Common Shares or approximately 41.7% of issued and outstanding Common Shares. DHTV will continue to hold (i) one Series 8 First Preferred Share; (ii) 3,529,411 Common Share purchase warrants exercisable at a price of $0.17 per share, originally issued in connection with a $1.5 million Standby Equity Commitment, which remains in place; and (iii) 1,250,000 Common Share purchase warrant exercisable until December 27, 2017 at $0.50 per share. The Common Shares were acquired for investment purposes.

62,000 $10 8% Series 15 First Preferred Shares convertible into 5,382,620 Common Shares as of the date hereof remain issued and outstanding as of the date hereof. DHTV does not own or control any Series 15 First Preferred Shares.

Concurrently with the conversion of the First Preferred Shares, the Company and DHTV have entered into a Sixth Amended and Restated Investor Rights Agreement (the “Amended IRA”) pursuant to which DHTV will, among other things, retain its right to appoint one director of the Company and to ex officio membership on board of director committees and the right to approve the issuance of securities that are senior to the Common Shares. The Amended IRA will be filed on SEDAR and will be available at .

This press release is also issued pursuant to the early warning report requirements of applicable securities laws of Canada which also requires a report to be filed on SEDAR containing additional information with respect to the foregoing matters. A copy of such early warning report will be available on SEDAR ().

About EGUANA TECHNOLGIES, INC:

Headquartered in Calgary, Alberta, Canada, Eguana Technologies Inc. designs and manufactures intelligent high performance low-voltage power electronics platforms for distributed smart grid and energy storage applications. Eguana–s software configurable platform enables energy storage systems to optimize the lower cost, modularity and safety advantages of all the advanced battery technologies at a much lower cost, and with greater design flexibility than is possible with conventional power electronics solutions.

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Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Eguana Technologies Inc
Michael Carten
CEO
+1.403.508.7177 ext 111

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