SOURCE: XZERES Corp.

XZERES Corp.

December 18, 2014 08:31 ET

XZERES Sees Accelerating Sales Growth, Driven by Further Adoption in Key Markets

Company Expects Record Fourth Quarter Revenue of $4-5 Million

WILSONVILLE, OR--(Marketwired - Dec 18, 2014) - XZERES Corp. (OTCQB: XPWR), a global clean energy solutions company, has seen an acceleration in its small-wind turbine system sales over the last several months, with expectations for additional growth throughout 2015.

"We've previously conveyed that XZERES has been focused on the significant potential in foreign markets," said XZERES CEO David Hofflich, "and we are pleased to see our efforts start to translate into top-line revenue growth." Based on deliveries already made and anticipated shipments this month, XZERES expects to ship $2.5 million of its wind turbine systems during November and December, with the majority of that revenue being driven by demand from Japan, as well as the UK/EU and U.S. markets.

"The Japanese market remains a strategic focus for us because of the government's strong support for micro wind energy solutions and XZERES' positioning in the country," continued Hofflich. The Feed-in-Tariffs provided by the Japanese government to support and promote wind energy development, particularly for systems 20kW and below, are currently among the highest in the world, and have directly contributed to broad-based interest among businesses, investors, and renewable energy developers in wind projects. In September, XZERES became one of the few companies qualified to sell small wind turbines in Japan when it was awarded Class NK certification for its 10kW turbine system. XZERES established a wholly-owned subsidiary, XZERES Japan, with an office and personnel located in Tokyo, to focus on the Japanese market.

In addition to the increased revenue from Japan, the UK/EU and U.S., XZERES is now expecting to deploy approximately $4.5 million of wind turbine systems to the country of Vietnam. XZERES completed a successful pilot program in Vietnam in 2011 and an initial commercial deployment earlier this year, and now expects to ship a substantial number of turbines in early 2015. "The 10kW and 2.4kW systems are ideally suited for island electrification in many areas like Vietnam," commented Frank Greco, president of XZERES. "Performance is extremely reliable; and we have developed excellent solutions, particularly for these harsh marine environments, from installation to long-term maintenance." 

The rollout of XZERES' wind turbines in Vietnam is part of the government's initiative to provide reliable and affordable electrical power to remote island communities. The government has identified some 3,000 islands for potential deployment, with about a third considered high priority due to the size of their populations and unmet power needs. This initial deployment is for approximately 45 islands.

"We believe the activity in Vietnam and Japan speaks to the success of our strategy of focusing heavily on foreign markets," concluded Hofflich. XZERES began its focus on foreign markets in 2010 and, in addition to ongoing work in the U.S., UK/EU and Japan, the company is currently actively pursuing projects in the Caribbean, Middle East, India, and Southeast Asia.

About XZERES Turbines
XZERES' Skystream 2.4, XZERES 10, and XZERES 50 wind turbines are the best-in-class small scale wind turbines for agricultural, residential, small business and microgrid applications. XZERES turbines are the leading, small-scale wind energy solutions, with more than 9,300 installations worldwide.

About XZERES
XZERES Corp. is a global renewable energy company. The company designs and manufactures on- and off-grid distributed wind turbine systems as well as energy efficiency solutions for commercial, light industrial and residential markets. XZERES products reduce energy costs and carbon footprints. Headquartered in Wilsonville, Oregon, the company's international distribution network supports the deployment of its products in 110 countries and on all seven continents. For more information please visit www.xzeres.com

Forward-Looking Statements and Safe Harbor Statement:
The information provided herein may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to a number of risks, uncertainties and assumptions, including those identified under "Risk Factors" in the Company's filings made with the Securities Exchange Commission. Actual results may differ materially from those contemplated by these forward-looking statements and the Company does not undertake to update any of these forward-looking statements to reflect a change in its views or events or circumstances that occur after the date of this press release. 

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