Xantrex Technology Inc.
TSX : XTX

Xantrex Technology Inc.

March 27, 2008 15:05 ET

Xantrex Receives Order Valued at US$2 Million From Woojin for Solar Inverters for Korean Market

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 27, 2008) - Xantrex Technology Inc. (TSX:XTX) announced today it has received a US$2 million order for grid-tie commercial solar inverters from Woojin Electric. The order is for a combination of the Xantrex GT100 (100 kilowatt) and GT250 (250 kilowatt) three phase solar inverters which are targeted for eight solar projects in Korea. Delivery of the Xantrex GT100 and GT250 grid-tie solar inverters will take place over the second quarter of 2008.

The new Xantrex GT100 and GT250 commercial grid-tie solar inverters were introduced to the market in the second half of 2007 and set industry standards for performance, features, and reliability. These inverters efficiently convert direct current (DC) power from solar panels into high-quality alternating current (AC) electricity for delivery to the grid.

"We are pleased to receive this order, a considerable increase from previous orders, from Woojin," said Mossadiq S. Umedaly, Xantrex Chairman. "We regard this is an expression of Woojins confidence in Xantrex's inverter products and service, and an opportunity for us to supply our leading grid-tie solar inverters into the growing renewable energy market in Korea. The increased order size indicates that our strategic efforts to increase our Korean market share are beginning to take shape."

Xantrex grid-tie inverters have become the inverters of choice for a growing number of solar system installers and their customers, offering a solution with excellent value, performance, reliability, ease of installation, and high power density.

Xantrex CEO John Wallace stated, "We are committed to building on our relationship with Woojin and supplying them with the most efficient, reliable, and cost effective inverters in the solar industry. The Korean solar market is a significant area of opportunity for Xantrex and we have a full range of suitable single and three phase solar inverters to enable us to increase our market share."

"We selected Xantrex inverters for these solar projects because we believe in their commitment to customer service and delivering reliable products," said Jeon Dong Sub, Director of New and Renewable Energy of Woojin. "We are pleased to continue our strategic relationship with Xantrex to supply inverters for our solar power systems."

About Xantrex

Xantrex Technology Inc. (www.xantrex.com) is a world leader in the development, manufacturing and marketing of advanced power electronic products and systems for the renewable, programmable, and mobile power markets. The company's products convert and control raw electrical power from any central, distributed, renewable, or backup power source into high-quality power required by electronic and electrical equipment. Headquartered in Vancouver, British Columbia, the company has facilities in Arlington, Washington; Livermore and San Diego, California; Elkhart, Indiana; Barcelona, Spain; and Reading, England. Xantrex is listed on the Toronto Stock Exchange under the ticker symbol "XTX".

About Woojin

Woojin Electric is a distributor of electrical equipment in Korea. Woojin stocks a wide range of products in the areas of renewable energy, power quality, cable/wire and utility-scale materials such as transformers, circuit breakers and switchgear. They carry a complete line of solar components, including modules, Xantrex inverters and nickel metal hydride batteries, as well as operate a turn-key solar power plant construction division. The Woojin head office is located in Suwon, just outside Seoul.

Note that this news release may contain forward-looking statements related to Xantrex Technology Inc. Such statements reflect the current views of Xantrex with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in these forward-looking statements.

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