Sustainable Energy Technologies Ltd.

Sustainable Energy Technologies Ltd.

June 01, 2006 10:52 ET

Sustainable Energy Signs $2.5 Million Sale Agreement

BARCELONA, SPAIN--(CCNMatthews - June 1, 2006) -

- Company to Deliver "SUNERGY" Inverters to Spanish Solar Power Project -

Sustainable Energy Technologies Ltd. ("Sustainable Energy") (TSX VENTURE:STG) has entered into a supply contract for the delivery of SUNERGY 5kW inverters to a leading European manufacturer of solar PV modules.

The supply contract calls for delivery of the inverters to a large project in Spain over a period of approximately 20 months. First deliveries are scheduled for August, 2006. The total sales value of the inverters is approximately $2.5 million.

The exceptional thermal properties of the SUNERGY inverter are ideally suited to Spain and other southern European markets. SUNERGY's patented design allows the SUNERGY inverter to operate at full power over extended periods of time at temperatures in excess of 500 Celsius. The unique approach to power conversion used by the SUNERGY inverter also enables the inverter to maintain its very high electrical conversion efficiencies at higher power outputs, thereby maximizing power production from the array.

"We are very pleased with this contract. It positions Sustainable Energy as an effective competitor in the rapidly growing Spanish and European markets." said Michael Carten. "It will also demonstrate to the industry the substantial gains in energy yield advantages, which can be achieved with a low voltage approach to grid-connected PV systems."

About Sustainable Energy:

Based in Calgary Alberta, Sustainable Energy ( develops manufactures and markets advanced power inverters for the renewable energy industry. Power inverters are strategic to the integration of new alternative energy technologies - solar and wind power, fuel cells, and energy storage systems - into the power grid.

Power inverters convert the raw power output of these systems - typically low voltage direct current - into high quality power needed to run modern electrical equipment. Power inverters also manage the interface with the power grid, and in the case of solar PV, optimize the performance of the array, with maximum power point tracking.

Sustainable Energy's proprietary technology is the first to directly link low voltage generation and energy storage systems to the power grid in a single power conversion step, delivering the very high electrical conversion efficiencies needed to make alternative energy competitive.

Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

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