Sustainable Energy Releases Six Month Results

Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or
the "Company") announced that it has filed its Consolidated Financial Statements
for the Six Months ending March 31 2012 along with Management's Discussion and
Analysis thereof. The Consolidated Financial Statements and the Management
Discussion and Analysis thereof are available on SEDAR at www.sedar.com and on
the Company's website at www.sustainableenergy.com. 


Highlights: 

Product sales revenues for the period ending were $1,906,569 compared to
$1,704,030 for the six months in 2011. Volumes for the six month period were
slightly below expectations for the period mainly due to late shipments to the
US in March 2012. Whereas in 2011, 51% of products were shipped to Ontario
destinations, this has been reduced to 7.2% for Ontario; with 73.02% shipped to
the U.S. and 19.78% sold in Europe. 


The second Quarter saw completion of a year-long process where the Company
systematically restructured operations to lower the breakeven point and change
to a strategy that is specific to targeted customers, integrated packages and
emerging technologies with each segment driven on its own set of metrics.  


The supply chain has been restructured to build products based on a series of
outsourced subassemblies that allows maximum flexibility and reduces system
inventory risk. The financial investment in inventory is now properly spread
throughout the supply chain allowing Sustainable Energy to execute production
capabilities with significantly less up-front investment. Cash flow used in
operations for the 6 month period ($1,173,438) is 68% less than for the same
period ($3,756,014) in 2011. 


During the restructuring period, the Company completed development of its 3rd
generation platform based on proprietary technology (patent pending) developed
in collaboration with the University of Alberta. Designated "STX" (for single
transformer vs. 4 transformers) the 3rd generation platform is more efficient,
has a lower mass, and a materially lower manufactured cost than the 2nd
generation platform. It also sets the stage for a further round of cost
reduction later this year and development of a 3-phase inverter platform for
higher power ratings.


"Operationally the Company is in better shape than it has ever been," said
Michael Carten CEO of Sustainable Energy. "We have successfully shifted our
focus from Ontario and our investment in the tenKsolar relationship is poised to
provide material upside returns to the Company. The PARALEX enabled RAISWAVE
product is a significant breakthrough in the solar power delivery model as
evidenced by the recently announced strategic global partnership with Korean
industrial giant Hanwha Corporation."  


"In Ontario, we responded to anticipated cuts in the feed in tariffs by
launching the Province's first factory assembled solar PV system designed to
reduce installation costs and risks for ground based systems. Response to the
ProFab product offering has been positive. Since announcing ProFab on April 18,
2012, we have been responding to requests for quotations totaling more than $5
million in potential orders. We expect to convert much of this interest to
purchase orders as soon as the Ontario Power Authority releases the final rules
for new systems promised at the end of May." 


About Sustainable Energy: 

Sustainable Energy (www.SustainableEnergy.com) designs and manufactures
intelligent power inverters for a wide arrange of distributed generation and
storage technologies. The inverters incorporate patented breakthrough
technologies which enable the highest efficiency conversion of low voltage
direct current inputs in the industry.  


A single standard low cost electronics platform supports (i) the solar
industry's only industry standard inverter enabling the higher yields and
installation flexibility; the solar industry's only industry standard inverter
enabling the safety of extra low operating voltages and (iii) the industry's
highest bi-directional power conversion efficiencies for grid tied energy
storage and fuel cells 


Approximately 20MW of 1st and 2nd generation PARALEX inverters have been
installed in 7 different countries. 


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, it includes:
statements concerning the impact of Sustainables' technology on solar PV system
performance; statements concerning market outlooks; and statements concerning
the potential for sales revenues. While management believes these statements to
be accurate they are dependent on a wide range of factors beyond management's
control and should not be viewed as a guarantee of the specific outcome.
Forward-looking information is not a guarantee of future performance and
involves a number of risks and uncertainties. 


Many factors could cause the Companies' 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. The Companies do 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.
Stone Gold (TSXV:STG)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024