Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

October 07, 2011 08:00 ET

Sustainable Energy Sees Accelerating Demand for PARALEX With Liberal Win in Ontario Election

- Continuation of Green Energy Program is Major Part of New Government's Platform

- 262 MW Backlog in Targeted Micro-FIT Market Will Drive Demand for PARALEX

TORONTO, ONTARIO--(Marketwire - Oct. 7, 2011) - Sustainable Energy (TSX VENTURE:STG) ("Sustainable Energy" or the Company) said today that it believes the return of a Liberal majority in yesterday's Ontario election signals significant demand growth for its PARALEX inverter.

Demand for PARALEX is expected to come first from the growing micro-FIT market, where the "parallel" wiring has been delivering up to 25% higher system yields for project owners. According to published data from the Ontario Power Authority there was a backlog of 262 MW in this market segment at the end of September with new applications in September totaling 44 MW.

"We are very excited with the outcome of the election," said Michael Carten, CEO of Sustainable Energy. "We took 15% of the micro-FIT market from a standing start before it stalled earlier this year, and we are highly confident we will improve that market share with the new PARALEX product."

The endorsement of the Green Energy Program means Ontario is poised to become the biggest solar market in North America. The Program mandates the use of "made in Ontario" components making it a very attractive "home" market for Sustainable Energy's breakthrough PARALEX inverter.

Liberal Premier Dalton McGuinty singled out the importance of the micro-FIT market to the Province during his campaign, saying: "we've got 30,000 what we call micro projects being sponsored by Ontario investors. These are families, these are farmers who have decided to participate in this exciting new clean energy revolution in Ontario, they want to help subsidize a little bit of the work taking place on the farm, or help support some, some, modest family income."

PARALEX is the industry's only high efficiency string inverter to enable a parallel system design which in turn enables much higher system yields at a cost that is competitive with leading string inverters. PARALEX is manufactured in Ontario at Sustainable Energy's facility in Guelph, Ontario.

About Sustainable Energy:

Sustainable Energy (www.SustainableEnergy.com) is a Canadian solar inverter company which supplies Canada, the U.S. and Europe. 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 PARALEX 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) a 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 and design flexibility; statements concerning the cost effectiveness of our product and statements concerning the potential for growth in demand for solar products in Ontario.

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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