Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

September 09, 2010 08:30 ET

Sustainable Energy and Cleave Energy Deliver High-Yield SUNERGY™ Inverters to Ontario Ground Based Micro-FIT Market

Leading Ontario Solar Developer Places Orders Totalling 160kW for Tracker Based Cold Weather Rated SUNERGY™ Inverters

TORONTO, ONTARIO--(Marketwire - Sept. 9, 2010) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG)("Sustainable Energy" or the "Company") announced today that Cleave Energy Inc ("Cleave Energy") will use Sustainable Energy's outdoor rated SUNERGYTM inverters for ground-mount tracker based solar PV projects under Ontario's micro-FIT program. The Company is delivering on initial orders for 160 kW. 

Recently, the Ontario Power Authority ("OPA") indicated that more than 19,000 applications had been received for the micro-Fit (less than 10kW) projects of which a majority is believed to be for ground based systems. Significantly the OPA indicated that less than 5% had been approved and commission but committed to clear the backlog before the end of September 2010. (For more detail see News Release dated September 1, 2010).

Cleave Energy has indicated strong multi-megawatt demand for the SUNERGYTM inverter and its interest in securing supplies of the SUNERGYTM product into 2011.

Solar trackers, which increase energy yield by tracking the course of the sun throughout the day, typically need inverters which are outdoor-rated for Canada's cold climate. The SUNERGYTM inverter is the only CSA listed inverter in its class that is rated for outdoor operation in Canada.

Rated for temperatures down to -40C, the high-yield low-voltage SUNERGYTM inverter is also field serviceable, making it ideal for solar tracker installations in Ontario. The Sustainable Energy team brings a wealth of field experience to Ontario from its 6 MW solar tracker project located in Olmedilla, Spain, which has been operating for more than 2 years, and is ranked as one of the largest tracker projects in the world utilizing over 1,100 DEGERenergie (www.degerenergie.de) solar PV tracking systems.

About Cleave Energy: Based in Picton Ontario, Cleave Energy Inc (www.cleaveenergy.com) is one of the Provinces leading solar sales and installation firms for both micro-FIT and FIT projects. Established in 1984, Cleave has a long history in the green building and construction field. Cleave Energy is integrating the SUNERGYTM inverter into both rooftop and ground mount fixed and tracker solutions and currently offers a selection of thin film and crystalline modules.

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.

The extra low operating voltage (50v – 100v) of the SUNERGY ELV 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. The SUNERGY inverter is rated for operating conditions ranging from minus 40 degrees Celsius to plus 50 degrees Celsius. 

Sustainable Energy's technologies are the subject of multiple patents issued by and pending with the US Patent and Canadian Patent Offices

For competitive and customer confidentiality reasons, the Company does not disclose the value of contracts.

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 performance of the SUNERGY inverter and solar trackers; statements concerning the potential for growth of the solar industry in Ontario; and statements concerning the size and direction of solar PV markets. 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 Companies' 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 Companies do 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.

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

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