Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

April 24, 2008 13:50 ET

Sustainable Energy Announces Agreement On SUNERGY "CPV" Inverter Solution

CALGARY, ALBERTA--(Marketwire - April 24, 2008) - Sustainable Energy Technologies Ltd. (TSX VENTURE:STG), ("the Company" or "STG") announced today that it has entered into an agreement with FOTOVOLTAICA 10 CM SA ("Grupo Diez") to collaborate on an inverter system solution for a 33 kW solar concentrator tracker developed for Grupo Diez. Grupo Diez is a large solar project developer based in Toledo, Spain.

Concentrated PV ("CPV") is a third generation solar technology which has the potential to challenge thin film for the lowest installed cost per watt in large utility scale applications. Using optical lenses or mirrors to increase the solar intensity CPV systems significantly reduce the amount of expensive silicon needed to produce solar electricity.

"There is increasing recognition among CPV project developers that the power output characteristics of CPV systems create unique demands on solar inverters," commented Michael Carten President & CEO. "Our platform enables us to meet these demands. We have a similar agreement to optimize a 5kW system application with a very large Spanish developer, and several other market leaders have expressed interest in trying our system solution in the past few weeks."

"This is a significant opportunity for Sustainable. We believe that CPV technologies have reached a tipping point and we estimate that we could easily see 80-90 megawatts of CPV systems installed in 2008, and close to 400 megawatts in 2009. According to a recent article in Sun & Wind Energy (Feb 2007), industry estimates are considerably higher." added Carten.

"We are very excited about the Sustainable inverter platform," said Cesar Rodriguez, Technical Director for Group Diez. "It is a very interesting approach, which we believe will add real value to our systems."

The SUNERGY CPV inverter incorporates patented and proprietary technology which enables it to address the needs of CPV modules especially in less than perfect operating conditions:

- Continuous grid connectivity: The SUNERGY™ CPV inverters can track very high speed changes in power outputs from the CPV modules while maintaining continuous grid connectivity, even at zero power. It ensures virtually uninterruptible power from CPV modules in changing lighting conditions.

- Enhanced power output & reliability: The SUNERGY™ CPV inverter enables a parallel array of the CPV modules which allows for wider module to module output variability without compromising total system performance. This insures against mismatch losses resulting from variances in manufacturing and installation tolerances.

- No thermal rollback: The SUNERGY™ CPV inverter operates at full power all day in temperatures above 500C. The CPV system does not suffer from thermal rollback of the inverter as outside temperatures rise. CPV systems are optimized in hot dry climates.

About Sustainable Energy Technologies Ltd.: Based in Calgary, Alberta, Canada, Sustainable Energy designs, manufactures and distributes power inverters for distributed alternative energy applications. Power inverters convert and control the raw power output of renewable power generators (such as solar and small wind power systems) and energy storage systems (such as batteries and stationary fuel cells) to grid-quality power. The Company is focused on delivering product solutions to the solar power market in Europe.

For more information on the Company and its SUNERGY™ inverter please visit: www.sustainableenergy.com.

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.

Contact Information