Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

March 16, 2011 08:30 ET

Sustainable Energy Announces Multi-Megawatt Supply Agreement for US Market

Highlights:

- Sustainable to supply power electronics for tenKsolar's high efficiency rooftop solar PV system

- tenKsolar forecasting demand for 4,600 units (23MW) over first 12 months of agreement

- 8 MW minimum commitment (1,600 units) including deliveries to leading US distributors

- Collaboration to advance platform using Sustainable Energy's proprietary control technologies

TORONTO, ONTARIO--(Marketwire - March 16, 2011) - Sustainable Energy Technologies Ltd. (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") announced today that tenKsolar will source its low voltage power electronics requirements for its integrated RAIS® Wave system from Sustainable Energy under a long term supply contract with the Company. 

tenKsolar's demand forecast for the first 12 months of the agreement beginning April 1, 2011 is an estimated 4,600 units or about 23 MW. tenKsolar has committed to a minimum of 1,600 units (8MW) over this period including units delivered through leading US distributors such as Stuart C. Irby Company.

The RAIS Wave system is a fully integrated non-penetrating integrated rooftop solution built around RAIS smart solar modules that delivers AC energy directly off the rooftop. The system has been shown to provide between 25% and 100% greater energy density than conventional crystalline systems in many deployments. It can be installed at one of the lowest weights per square foot in the industry.

The RAIS WAVE system integrates Sustainable Energy's patented low voltage inverter to deliver maximum fire safety and high energy production while reducing cost and complexity by providing everything needed for a commercial solar installation in one complete package. 

As part of the agreement, Sustainable Energy has agreed to advance development of a product platform for tenKsolar incorporating the Company's recently announced (News Release dated March 2, 2011) proprietary (patents pending) control technologies, with tenKsolar contributing to non-recurring engineering costs associated with development.

tenKsolar's RAIS systems will be sold principally in the US for commercial and institutional solar rooftop applications.

For competitive and customer confidentiality reasons, the Company does not disclose the value of specific supply contracts unless required to do so by agreement or law. Product pricing will typically reflect market pricing unless otherwise noted. 

About tenKsolar Headquartered in Minneapolis, Minnesota, tenKsolar designs, manufactures and markets the world's most productive and reliable photovoltaic solutions. The tenKsolar RAIS® Wave system combines RAIS PV modules, RAIS Wave Light-Smart reflectors and integrated racking into a repeating wave pattern yielding the highest energy density output for flat roof or ground mount systems. In addition, multiple levels of failover redundancy within the system ensure the greatest lifetime energy output.

tenKsolar's proprietary Cell Optimizing architecture makes the tenKsolar RAIS PV modules more efficient and unique in their ability to generate energy from all available light, whether direct, diffuse or reflected. By designing the RAIS PV module and its proprietary filtering reflector as structural components in the RAIS Wave, tenKsolar developed a minimal ballasting, easy-to-install, low-cost system which requires no roof penetrations.

About Sustainable Energy:

Sustainable Energy (www.sustainableenergy.com) is Canada's solar inverter company. The Company's patented inverter technologies are a breakthrough in advanced power electronics design and capabilities for all forms of distributed generation and smart grid applications. 

The SUNERGY(TM) inverter is the industry's only grid-interactive solar inverter which enables a "parallel" solar PV system architecture in higher power ratings at a cost and serviceability factor that is comparable to conventional inverters in the market. The benefits of parallel solar are: (i) 5% - 25% higher total system power output; (ii) a better fill factor enabling better coverage of available space; (iii) simplified system design and installation; and (iv) the safety of extra low operating voltages which ensures the safety of building maintenance personnel, first responders, and tradesmen who may accidentally come into contact with system wiring.

Sustainable Energy's technologies are the subject of multiple patents issued by and pending with the Canadian and US 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; statements concerning the performance of the RAIS WAVE PV systems; and statements concerning the forecast demand for inverters. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. In particular there is no assurance that performance of the systems will be as estimated or that market demand will be as forecasted.

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. Readers are also directed to the Risk Factors section of the Company's current Annual Information Form which may be found on its website or at www.sedar.com. 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.

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