Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

April 30, 2008 13:00 ET

Sustainable Energy Sales and Market Update

CALGARY, ALBERTA--(Marketwire - April 30, 2008) - Sustainable Energy Technologies Ltd. (TSX VENTURE:STG), ("the Company" or "Sustainable Energy") announced today that it has begun delivering inverters to Scheuten Solar Iberica SA for two projects in the Province of Castille La Mancha, Spain. Revenues on the sale of the inverters will be approximately $705,000 in this Quarter.

Spain has recently announced changes in the prices paid for solar PV, in particular reducing the amounts paid for ground-mounted systems permitted after September 2008, while leaving the prices largely unchanged for rooftop and building integrated solar projects. In addition, under recently enacted legislation, solar PV is mandated for all new industrial commercial and buildings.

"With reduced investor yields from large ground-mounted systems, most industry observers foresee a rotation of capital into the rooftop and building integrated market, as well as greater use of lower cost thin film and higher powered solar concentrators for ground-mounted projects," said Michael Carten President & CEO of the Company. "This is in fact very good news for Sustainable Energy, as our inverter platform offers tangible value in these applications that conventional inverter technologies cannot.

"In response to these market changes, we have adjusted the direction of our marketing strategy towards developing multi-year OEM, bundling and/or private labeling relationships with companies focusing on the sectors where our competitive advantages are greatest." added Carten.

"Specifically:

- We have recently announced agreements with two leading solar concentrator ("CPV") project developers, with several others anticipated soon. The goal in each case is to integrate the SUNERGY inverters into the CPV trackers under multi-year OEM arrangements.

- We are exploring opportunities with two of Spain's leading solar companies to private label SUNERGY inverters as part of bundled systems, especially for building integrated thin film systems.

- We are in discussions with a large European power supply company to private label our SUNERGY platform for thin film solar. In the thin film application, our "parallel" system approach enables virtually 100% coverage of the roof area, which is typically not possible with the more conventional "series" configuration."

"In each of these cases, successful multi-year, multi-megawatt relationships are projected. There is, of course, no assurance that the negotiations currently underway will lead to successful contracts."

"In Greece, where we have a sales partnership with one of the country's largest renewable energy project developer, (announced October 1, 2007) the market is picking up after being delayed as a result of issues surrounding the 40% capital grant allocations. In the meantime we have also developed a series of re-seller relationships in the principal regions of the country."

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.

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