Sustainable Energy Sees Accelerating Demand for PARALEX With Liberal Win in Ontario Election
07 10월 2011 - 9:00PM
Marketwired
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.
Contacts: Sustainable Energy Technologies Ltd. Michael Carten
Chief Executive Officer
+1.403.630.9544Michael.Carten@SustainableEnergy.comwww.SustainableEnergy.com
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