Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

May 19, 2010 08:30 ET

Sustainable Energy Announces Distribution Agreement With Conergy for Ontario

- First project in partnership between Sustainable Energy and Conergy to deliver 3 MW of solar power to Ontario in 2010 -

TORONTO, ONTARIO--(Marketwire - May 19, 2010) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") announced today that it has entered into an agreement with Conergy, a global PV engineering, manufacturing and installation company, to supply SUNERGY inverters to the Ontario market. The first project is a 75kW rooftop project in Brampton, Ontario atop Metex Heat Treating, a tier 1 automotive supplier. The agreement between Sustainable Energy and Conergy will yield 3 MW of power in 2010 through various projects.

The solar plant, which is being developed by OYA Solar Inc., is scheduled for grid connection by June 25th. "Metex is a key partner in OYA's "Green Skies" program, which aims to create 30 MW of distributed solar energy across Ontario within the next two years. The installation will use crystalline PV modules and SUNERGY inverters with Sustainable Energy's PARALEX architecture. Conergy PV solutions are Ontario market ready for the feed-in-tariff ("FIT") and microFIT programs under the Ontario Green Energy Act.

"Partnering with Sustainable Energy was an easy choice as the SUNERGY inverters deliver exceptional performance for commercial rooftop solutions with safe, extra-low voltage technology," said Jared Donald, President of Conergy. "With the SUNERGY inverter and its parallel wiring architecture our customers will now have access to a highly flexible rooftop inverter that delivers high performance even in non-ideal conditions."

With Sustainable Energy's patented inverter technology and the parallel array architecture, each solar module operates independently of other modules in the system, delivering a 5-15 percent increased energy yield. The power optimization technology allows every module to deliver its maximum power potential and helps eliminate the impact of shading, soiling and other real world factors.

"Working with Sustainable Energy, we now have the technology to place solar power systems atop rooftops regardless of shading or other obstacles," said Manish Nayar, Managing Partner of OYA. "The parallel architecture assures not only more efficient power output, but also a safe and cost effective installation."

"Sustainable Energy is very excited to be one of the first companies contributing technologies to the solar rooftop installation momentum in Ontario for the Green Energy Act," said Sanjay Razdan President & Chief Executive Officer of Sustainable Energy. "Our commitment to Ontario reflects the Province's emerging leadership of the North American solar PV market resulting from the recently enacted FITs and the Province's commitment to build a sustainable Canadian solar technology and manufacturing infrastructure. We are pleased to work side by side with companies like Conergy and OYA Solar, which are making a strong impact for the Canadian solar market."

About Conergy: Conergy designs, manufactures, installs and finances solar photovoltaic solutions for major commercial sectors, public agencies, businesses and homeowners through two distinct channels. Conergy's Projects Group focuses on custom solutions for large-scale, energy-intensive enterprises; Conergy's Distribution Group serves a national network of installers, developers and dealers in the grid-tied and off-grid residential realm, while also addressing the needs of small commercial markets. With ten years' market expertise, Conergy has successfully deployed projects totaling over 1.25 Gigawatt of renewable energy capacity around the world – nearly a full Gigawatt in innovative solar PV solutions. With operations in 13 countries over 4 continents, Conergy is helping drive the world's burgeoning clean energy economy.

About OYA Solar Inc: OYA Solar Inc, a subsidiary of OYA Ventures LLC, designs, develops and operates socially responsible renewable energy projects that promote economic development across the globe. Its mission is to provide access to reliable renewable energy in order to address the challenges of energy independence. In Canada, OYA has committed to developing its first 30 MW distributed rooftop solar plant by 2012

With projects in Canada, the US, Africa and South Asia, we are committed to reducing the global carbon-based energy footprint and creating a more sustainable global economy.

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 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, it includes: statements concerning the impact of our technology on solar PV system performance; statements concerning the potential for sales in the Ontario market which are dependent on a number of factors including the rate at which the market grows and the administration of the Ontario Feed in Tariff Program; and statements concerning the potential for sales to Conergy during 2010 While management believes these statements to be accurate they are dependent on a wide range of factors beyond management's control and should not be viewed as a guarantee of the specific outcome. 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
    Media Contact:
    Borders + Gratehouse
    Emily Borders
    (415) 963-4174 ext 1
    www.sustainableenergy.com