Sustainable Energy Technologies Ltd.

Sustainable Energy Technologies Ltd.

January 20, 2010 08:30 ET

Sustainable Energy Partners With Tejados Industriales De Fotovoltaica to Deliver Breakthrough Technology to European Solar Markets

-Additional 10 MW of European-certified SUNERGY inverters follow successful deployment of 1.8MW in the Czech Republic-

BARCELONA, SPAIN--(Marketwire - Jan. 20, 2010) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy") announced today that it has entered into an agreement with Tejados Industriales de Fotovoltaica, S.L. ("Tejados"), an engineering procurement and construction company focused on solar PV projects to supply Sustainable Energy's next generation SUNERGY inverters totaling at least 10 MW in capacity for solar power projects in Spain and other European markets during 2010. 

First deliveries under the Tejados contract are expected to begin during the latter part of the current fiscal Quarter. The next generation SUNERGY inverters are replacing Sustainable Energy's successful first generation inverter, with first deliveries to European projects this month.

SUNERGY inverters enable the superior performance, intrinsic safety, and design flexibility of Sustainable Energy's PARALEX system architecture that connects thin film solar modules in a massively parallel array.

"We are convinced that the PARALEX massively parallel system architecture using Sustainable Energy's SUNERGY inverters is by far the best solution for connection of thin film modules in the world today," said Klaus Muller, CEO of Tejados.

"At Tejados, we are dedicated to bringing massively parallel thin film systems to our customers in all of our markets; and this agreement forms the cornerstone of what we see as a giant step forward for our business and for thin film solar in general. The performance advantages and ease of installation for thin film systems are far superior to anything else available and we look forward to a long and prosperous relationship with Sustainable Energy," added Muller.

Tejados is part of a network of solar PV engineering procurement and construction firms affiliated with Signet Solar GmbH and offering comprehensive solar power solutions throughout Europe. The Tejados decision to use the new SUNERGY inverters for its 2010 projects follows the installation of first generation SUNERGY inverters last year as part of a 1.8 MW solar PV project in the Czech Republic. (See News Release dated November 22, 2009)

"We are very excited about our relationship with Tejados and its other partners in Europe," said Robert Bucher President & CEO of Sustainable Energy. "Not only is this agreement an endorsement of the value of the SUNERGY technology and PARALEX massively parallel system architecture, but it is also a strong signal of the renewal of the Spanish solar PV market."

About Tejados Fotovoltaica de Industriales SL Group

Based in Benissa, Spain, Tejados was formed in 2007 with the goal of being a leading engineering, procurement and construction firm for solar PV throughout Southern Europe. Tejados has a diversified staff of experienced engineers, project managers and financial experts; and the company has over the last 24 months integrated operations with a network of other solar PV engineering procurement and construction firms across Europe to offer customers turnkey solar PV solutions.

About Sustainable Energy: Sustainable Energy ( designs, manufactures and distributes power inverters for grid-connected solar PV systems. Advanced power inverters are a critical enabler of all modern solar PV power systems converting the direct current ("DC") power output of the solar PV modules into the high quality alternating current ("AC") power required by the power grid. Advanced power inverters also optimize the performance of the solar PV modules and maintain the integrity and safety of the interconnection with the power grid.

In rooftop applications, the extra low operating voltage of the SUNERGY platform enables a system architecture that is inherently safe and that can be installed and maintained by most building trades without the need for PV specialists, significantly reducing the installed system cost and increasing investor yields.

In ground-based applications, multiple SUNERGY inverters offer higher system yield, less downtime and easier installation and maintenance, than larger "central" inverters. For these reasons, multiple smaller inverters like SUNERGY are increasingly displacing central inverters in European ground based applications - where system performance rather than name plate capacity is the driver. 

Sustainable Energy's technologies are the subject of multiple patents issued by and pending with the US Patent and Canadian Patent Offices.

Forward Looking Information

The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, we include: statements concerning the impact of our technology on solar PV system performance; and statements concerning the potential for sales in the markets we have entered. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. The Company does not undertake any obligation to release publicly any revisions to forward- looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.

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.

Contact Information

  • Sustainable Energy Technologies Ltd.
    Michael Carten
    Executive Chairman
    (403) 508-7177 #111
    Sustainable Energy Technologies Ltd.
    Robert Bucher
    President & CEO
    (416) 642-5616
    Media Contact:
    Borders + Gratehouse
    Emily Borders
    (415) 963-4174 ext 1