Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

January 04, 2011 08:30 ET

Sustainable Energy and Ideal Supply Announce Agreement to Distribute SUNERGY™ Inverters for Ontario Micro-FIT and FIT Projects

-Ideal Supply Ltd to market and distribute SUNERGYTM as its core solar inverter for Ontario Micro-FIT and FIT projects under 150kW-

TORONTO, ONTARIO and LISTOWEL, ONTARIO--(Marketwire - Jan. 4, 2011) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") Canada's solar inverter company and Ideal Supply Company Ltd. ("Ideal Supply"), one of Ontario's largest and most well established electrical distribution companies, jointly announced today that Ideal Supply has selected the SUNERGYTM inverter as its core solar inverter for the fast growing Ontario micro-FIT and FIT projects under 150kW. 

With 26 retail locations, serving Central & Southwestern Ontario, and a modern warehousing facility in Listowel, Ideal Supply extends Sustainable Energy's market reach to over 1,000 electrical contractors and a rapidly expanding renewable energy dealer network.

"Sustainable could not ask for a better partner to further accelerate roll out of the SUNERGYTM inverter in Ontario," said Michael Carten, CEO of Sustainable Energy. "Ideal Supply brings a deep understanding of the Ontario electrical products market along with a strong Ontario brand and experienced sales force."

"Ideal selected the SUNERGYTM inverter for multiple factors, including: its unique outdoor rating, low voltage safety factors and its ability to deliver higher yields at a lower cost per watt than micro inverters." said Tim Veal, Green Energy Specialist of Ideal Supply. "The SUNERGYTM inverter allows Ideal to market a unique solar product offering, which will assist in separating us from our competitors. We will look forward to working with Sustainable Energy in 2011 and beyond".

Ideal Supply has invested into a portfolio of solar products for distribution in the Ontario market, including a supply of domestic solar modules. Ideal Supply inventories both turnkey and individual components for Micro-FIT and FIT projects which fully comply with the Ontario domestic content regulations.

Sustainable Energy is currently shipping SUNERGYTM inverters against Ideal Supply's opening order of 125kW. Dealer technical and sales training will begin this month as the two companies explore joint marketing opportunities.

About Ideal Supply Company Ltd.: Ideal Supply Ltd (www.idealsupply.com) was founded in 1926 and has one of the most extensive distribution networks focused on three core market segments: Automotive, which markets NAPA Auto Parts and the services of the Machine Shop; Electrical, which markets electrical supplies to residential and commercial contractors; and Industrial, which markets all Ideal's product lines to industrial customers, and includes the Automation Group, which focuses on industrial automation hardware and software.

The Company currently stocks over 80,000 SKU's that are distributed to 10,000 customers. Still locally owned by the MacDonald family, the Listowel, Ontario Head Office and Distribution Centre is home to the Company's Sales Management, Purchasing Department, Administration, and IT Group, the warehouse staff and the first ISO 9002 engine rebuilding centre in North America.

About Sustainable Energy:

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

The SUNERGYTM 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, it includes: statements concerning the impact of our technology on solar PV system performance and statements concerning the growth potential for commercial solar PV systems in Ontario. 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.

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