TORONTO, ONTARIO--(Marketwire - Dec. 6, 2011) - Sustainable Energy Technology Ltd. (TSX VENTURE:STG) ("Sustainable Energy") is pleased to announce that it has shipped another 75 units to tenKsolar for rooftop systems in the United States. Another 200 units are poised to go in the month of December bringing the total volume to over 5 megawatts towards their 23 megawatt supply contract.
Sustainable Energy's inverter is one of the key components for tenKsolar's RAIS® Wave system. We have been working closely on a joint engineering effort to optimize the performance of the 3rd generation inverter platform. With a cost target of $0.08 per kilowatt hour, the RAIS® system continues to gain traction in the United States and Europe with double digit forecasted growth in both regions for 2012.
"We are very pleased to see the volumes starting to move in key solar markets" said Michael Carten, CEO of Sustainable Energy, "with aggressive sales and marketing activities in the US and Europe it is a trend we expect to continue".
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.
About tenKsolar:
Headquartered in Minneapolis, Minnesota, tenKsolar (www.tenKsolar.com) designs, manufactures and markets unique photovoltaic systems which provide the highest kilowatt hour production per unit area at the lowest cost per kilowatt hour in the industry. tenKsolar's turn-key solar solution provides a fully integrated self-ballasted roof top system which cuts installation time by as much as 40% per equivalent watt and has been engineered to handle winds in excess of 140km/h.
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 and statements concerning the performance of the RAIS® Wave system and demand for products. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties.
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.
Contact Information:
Michael Carten
Chief Executive Officer
403.508.7177 #111
Michael.Carten@SustainableEnergy.com