Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

November 24, 2009 10:07 ET

Sustainable Energy's PARALEX™ Solution Enables 1st Megawatt Scale Massively Parallel Ground-Based Thin Film Solar Plant

- Sustainable Energy Partners with Leading Spanish EPC Company to Supply 1.8 MW Signet Solar Power Plant in Czech Republic -

BARCELONA, SPAIN--(Marketwire - Nov. 24, 2009) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") announced today that it has begun deliveries of its solar power inverters to Tejados Industriales de Fotovoltaica, S.L., ("TIF") a leading Spanish EPC company, affiliated with Signet Solar GmbH, for a 1.8 MW solar power plant located in the Blizkovice region of the Czech Republic.

The solar plant, which is being jointly developed by Signet Solar GmbH and BSC-Solar group, a solar project developer based in the Czech Republic, is scheduled for grid connection before year end. The Signet Solar PV modules will be wired in parallel using Sustainable Energy's patented PARALEX™ solution and making it world's first MW scale power plant using the parallel system architecture.

"This order is a testament to the growing appreciation for the value the PARALEX™ operating system in Europe, not only for rooftop solar PV systems but also for ground based solar plants" said Robert Bucher, President & CEO of Sustainable Energy. "We are also pleased with our new relationship with the TIF Group to whom we are supplying inverters for this and other projects."

PARALEX™ is an operating system architecture enabling thin film solar modules to be wired in a massively parallel array. Based on Sustainable Energy's patented inverter technology, the PARALEX™ architecture enables each solar module to operate independently of any other module in the system ensuring every module delivers its maximum power potential while reducing the impact of shading, soiling and other real world factors. A video explaining PARALEX and its advantages can be found at www.ParalexSolar.com.

Klaus Mueller, Managing Director of TIF, added his comments: "We are very pleased to see the PARALEX solution in the marketplace and optimized for Signet Solar modules. We believe our PARALEX/Signet Solar system will provide a superior performance ratio to any other solution available today. A 'parallel system architecture" is a concept that the PV industry has been waiting towards for some time but until now developments have focused only on standard crystalline type modules. In our opinion, PARALEX is the most economic way to optimize the power output and reap the benefits of parallel architectures."

Sustainable Energy will supply inverters from existing inventory. First European deliveries of the second generation inverter are expected to begin later this year.

About Tejados Fotovoltaica de Industriales SL

Based in Benissa, Spain, Tejados Fotovoltaica de Industriales SL Group was formed in 2007 with the goal of being a leading engineering, procurement and construction firm throughout Southern Europe. TIF has a diversified staff of experienced engineers, project managers and financial experts; and has also integrated operations with a network of other EPC's across Europe to offer customers turnkey PV solution. TIF recently announced a strategic supply agreement (November 3, 2009) with Signet Solar (www.signetsolar.com).

About Sustainable Energy: Sustainable Energy (www.sustainableenergy.com) 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 PARALEX solution 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 inverters offer higher system yield, less downtime and easier installation and maintenance, than larger "central" inverters. For these reasons, multiple smaller inverters 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
    or
    Sustainable Energy Technologies Ltd.
    Robert Bucher
    President & CEO
    (416) 642-5616
    or
    Media Contact:
    Borders + Gratehouse
    Emily Borders
    (415) 963-4174 ext 1
    www.sustainableenergy.com