RE: RE: RE: Q2 Results Out
Well said Enersol !
----------Original Message Posted 5/31/2010 9:28:19 AM----------
About what was expected. Little sales to this point due to certification as was expected to be a problem due to the length of time obtaining them through no fault of the product, only red tape issues.
Company ramping up and we should know where the plant is established once they have obtained the best possible considerations from a municipality. No doubt planning to keep their sales location in Toronto imho due to prime location for sales. I would think they will be moving out of their temp location on Bloor St to a permanent location shortly.
It appears that Bucher was right when he forcasted the company would not be able to keep up with the demand, both as a result of a shortage of components and also the expected demand due to a shortage of inverters worldwide. Financing will be an issue with a large demand for inventory obviously. But if the large demand for product is on paper, then financing would not be an issue at all.
It is disheartening to see the carry on by a poster who is obviously flooding this board with rubbish under different names touting the company under one name and totally trashing it under others. Some of this nonsense does fall under civil litigation and securities regulations and is being forwarded. Obviously motive is either money by an attempt on manipulation, revenge or just a very unballanced individual who should seek help.
Meanwhile keep up your own DD and make your decisions on that alone. I note that D&D, Loewens, Jacobs and other large holders are not recommending selling, at this stage, and I believe they have a better take and better research facilities than anyone here.
GLTA
Sustainable Energy Reports 6 Month Operating and Financial Results Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable") today reported its operating and financial results for the six month period ending March 31 2010.
The Consolidated Financial Statements and Management's Discussion and Analysis thereof can be found with the Company's public documents on SEDAR (www.sedar.com) and at the Company's website (www.sustainableenergy.com) under Investor/Financials/Fiscal 2010.
2nd Quarter Highlights
-- Comprehensive certifications with CSA/UL, CE and VDE certification of SUNERGY LV (low voltage) and SUNERGY ELV (extra low voltage) products enabled Sustainable to initiate commercial production of the new SUNERGY inverters in early April; production had been delayed to ensure that the same electrical and mechanical platform could be used in both European and North American markets to maximize inter-changeability between markets of the sub-assemblies.-- Agreement with Plexus Corp to manage electronics supply chain and manufacture electronics sub-assemblies for Ontario production and to manufacture SUNERGY for European markets enables better access to long lead time electronics components lowers cost and shortens supply lines.-- Subcontracted inverter assembly plant in Cambridge Ontario enables production of "made in Ontario" inverters for Ontario FIT market pending final site selection for manufacturing engineering and product development plant.-- Alliances with Bosch Solar GmbH and Morrison Hershfield enable Sustainable Energy to co-market "premium" PARALEX thin film package for Ontario market as turnkey solution for ground based and rooftop micro- FIT applications and institutional applications where safety of low voltage systems is a driver: schools, hospitals public buildings and recreational areas.-- Distribution agreements and purchase orders from CONERGY - world's largest solar products distributor - for rooftop system and Innovative Air for ground based, micro-Fit programs for first deliveries in June and July.-- Private labeling partnership with Solar Consult and Changetec will position SUNERGY platform for entry in German market.
Outlook
-- Global solar markets continue to show 30% CAGR with a forecast of 10 GW to be installed in 2010 up from 7.2 GW in 2009. Increased unit growth will drive value of solar inverter market to more than US$4B in 2010. A global shortage in solar inverters provides better pricing and opportunity to build brand and momentum over the next 18 months.-- Planned production of SUNERGY for the balance of 2010 calendar year is 32 MW with a goal to exit calendar 2010 with 8 MW per month and capacity to increase to 16 MW per month in calendar Q1, 2011 with demand growth in Ontario during 2011.-- First production in China is underway and the first deliveries were made to Salicru in Spain and to the Cambridge facility in May. Over the next 70 - 90 days about 7MW of inverters and sub-assemblies is being manufactured in China and shipped to Europe and Ontario before shifting production to Plexus. Demand for product will likely be greater than the Company's production capacity until a production ramp later in the year.-- Product sales revenues will depend on the mix of demand between Europe and North America and between PARALEX systems vs. SUNERGY inverters only. This is undeterminable at this juncture. With PARALEX systems, the Company is targeting revenues in the $3.0/watt range; with SUNERGY inverters the Company is expects revenues to range between
.38 -
.50/watt range depending on geographic markets and channels and upon foreign exchange.-- Demand for SUNERGY is gaining traction in Europe with strategic private label relationships in Spain Germany and Greece. In Spain Salicru - with 40% market share in power supplies and energy management business - has recently begun increasing deliveries under previously announced 15 MW blanket purchase order. Going forward the Company will focus resources in Spain marketing to supporting its two lead distribution channels - Salicru and Techno-Sun. The Company has terminated a previously announced supply contract with Tejados Industriales Fotovoltaico and is redirecting products to other higher value customers.-- In Germany, the Company will partner with compatible solar module suppliers and system integrators to market the PARALEX "compatible" solution. With the drive for suppliers to meet June 30 deadline for Germany's feed in tariff changes the Company expects to see only limited sales before September 2010-- The Greek solar PV market has begun growing very rapidly in the past few months, with no shortage of debt or equity capital for projects. Growth is expected to accelerate as Greece directs more investment to the renewable energy sector under the European bailout package. The Company is marketing an easily replicable PARLEX style package of components (panels inverters wiring and racking) for smaller (less than 150kW) ground based and rooftop systems and is targeting an average selling price of 3 Euros per watt. With more than 11 MW at various stages in the sales pipeline, Greece could represent the largest share of European revenues in 2010 calendar year.-- Ontario Feed in Tariffs will make Ontario one of the largest in North America Domestic content levels (60%) in 2011 will require "made in Ontario" panels and inverters for all installations Within Ontario the Company will target rooftop and ground based micro-Fit (less than 10kW) market and mid-size (less than 150kW) institutional/commercial rooftop applications for PARALEX systems. Based on announced contracts the Company estimates a 225 MW opportunity.-- Bureaucratic growing pains in Ontario, near term component supply issues and the absence of coherent financing packages will likely delay demand growth in Ontario until the last Quarter of 2010 and into 2011.-- The Company is developing targeted strategic relationships in the US to test the market for market entry in the second half of 2011.