Sustainable Energy Technologies Ltd.
TSX VENTURE : STG

Sustainable Energy Technologies Ltd.

February 01, 2006 12:35 ET

Sustainable Energy Technologies Ltd.: Exercises Option to Acquire STG Markets Limited Partnership Units

CALGARY, ALBERTA--(CCNMatthews - Feb. 1, 2006) - Sustainable Energy Technologies Ltd. (TSX VENTURE:STG), www.sustainableenergy.com today announced that it has exercised its right under the STG Markets Limited Partnership Agreement to acquire 200 Limited Partnership Units from 58 holders in exchange for 9,698,025 Common Shares. The closing will be February 15, 2006.

The Company previously announced the closing of issues for 200 Units of STG Markets Limited Partnership for gross proceeds of $2,000,000. Each STG Markets Limited Partnership Unit was callable by the Company after December 31, 2005, for common shares of the Company.

The net proceeds of the issue will be used for marketing Sustainable Energy's SUNERGY line of solar inverters in Europe, focusing on Spain and Germany, and to increase working capital reserves.

About Sustainable Energy

Based in Calgary Alberta, Sustainable Energy (www.sustainableenergy.com) develops manufactures and markets advanced power inverters for the renewable energy industry. Power inverters are strategic to the integration of new renewable energy technologies - solar and wind power, fuel cells, and energy storage systems - as part of the utility grid of the future.

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.

Contact Information

  • Sustainable Energy Technologies Ltd.
    Michael Carten
    President and CEO
    (403) 508-7177 #111
    (403) 205-2509 (FAX)
    Email: mcarten@sustainableenergy.com
    or
    Sustainable Energy Technologies Ltd.
    James Harris
    Director of Finance
    (403) 508-7177 #112
    (403) 205-2509 (FAX)
    Email: j.harris@sustainableenergy.com
    or
    Sustainable Energy Technologies Ltd.
    Phil Winters
    Marketing and Investor Relations
    (416) 830-6668
    (403) 205-2509 (FAX)
    Email: winters@sustainableenergy.com