RE: STG could be next!
SET has already established itself in Spain in a solar project as of last year as far as usability is concerned. But only one project. And unfortunately not that profitable due to it's advertising discount. The great expectations last year were quashed by the demand for a central inverter which we couldn't provide in lieu of our product. (which we can now provide as well thanks to Ingeteam..lower profit margin but....profit.)
SET has not established it's demand in the market as e.g. Xantrex has and therefore has not created a true market value..... SET is a one product company...No positive earnings or visible chance thereof, only speculative...2nd quarter might help a little bit....118 million shares outstanding (bothers me big time)...an unproven marketability... all of this negativity and no doubt the reason for it's SP. (Hell...why am I here anyway and big time?)
On appearance, it is a great product, but then Edsel was a great product on appearance for Ford until it went on the dealership lots. Wish I owned one now though.
The second highest in sales in the world inverter company (Ingeteam) is no doubt waiting to see how the reception of the Sunergy is going to be in the solar world. They know the specs, it's capabilities and if any, it's frailities as does any relevant solar entity. No doubt they are taking an optimistic, half full glass, view on this proven and tested but unpredictable product. It is our only shot the way I see it. We have other arrangements but I truly believe this is our one big chance. If we don't stand up to the Ingeteam test, we are doomed. Sales are the only thing that counts. Not hype.
I just know that before buying a new car, I am going to try it out first. In fact before I buy a new car, I rent one from a rental car agency. The car lot 100' drive test is really not a proper test. You need it for at least two days on a trip. It has saved me from buying something I would have regretted later. A rather inexpensive arrangement if you can grab a weekend deal and I think Ingeteam has done this through concessions.
I look at Ingeteam's arrangement in the same light. A tryout. ....If successful, it will result in Mr. C and the shareholders doing just fine. A failure will result in me working past 60...Not so bad unless of course I am 59. Mr. C would no doubt have to go back to his law practice. I am sure that neither of us like the alternatives. I wish him well.
One final point. It was stated by Mr. C that 'competitors are looking at using our product under their brand". I know that statement exists. To me what Mr. C. was stating was that the Sunergy will be put out by others under a different name. If this is the case, why in the tarnation would he be worried about whether the lower level solar entities know the Sustainable Energy Technology name in Spain, Greece or any other part of the world. It is a part and customers already know the provider's name. Ingeteam is the second largest in sales in the world! Solar customers will probably respect the Ingeteam's name, regardless of where the part is made.
Further, if I owned a mega $$$$ building and wanted solar, I certainly wouldn't ask my building manager or mail boy, who knows nothing about solar, to give me a solar system. On a several million or more investment, I do have the means and hopefully the smarts to hire a project manager (who knows something about solar beyond reading a Photon magazine) to advise me. I would also expect that the contractor, e.g. Copsica, would stand behind the parts that they use, e.g. the inverter. They have built a reputation of supplying the best and whatever screw, heating or A.C. unit they may use isn't a concern, unless of course, I have shares in the screw manufacturer.
If I went to buy a car from a G.M. or a Honda dealership or whoever, I really don't care who supplies their Air Conditioner unit. I expect that a company that big will be using a reputable one, even though I haven't heard of the brand. An example is that I found my Audi (second hand 1982 used, had a G.M. A.C. compressor. $400 from a V.W. dealer and $200 from a G.M. dealer). Did I care when I bought the Audi. Not a second thought. Only a part. But I did replace it with the G.M. part. Would have used a no name if it was cheaper.
In my business, I don't give two cents about what brand name is on a part, only that it works and is backed up by the supplier. A mega million dollar solar project doesn't rise or fall on the inverter manufacturer's name. Common sense. Copsica will no doubt use an Ingeteam inverter. (which will be a SET hopefully in many of the situations)
Ingeteam's reputation is well known. Why waste assets for advertising SET's? Sunergy's name is known by those that count. Michael Carten has proven by the way he wears many hats (criticised by few), that he is frugile, thinking and quite capable of bringing this company to a successful conclusion. I say a conclusion, as I believe that he is probably ready to take a well deserved retirement with megabucks. No doubt as XTX's principals have done. Ingeteam certainly has the potential to take us out in an amicable way.
Sorry for the extended post but it is sometimes necessary to clarify some milky points.
Hopefully I haven't wasted my time.
Enersol