NEWS..MAJOR ORDERS
Sustainable Energy Technologies Ltd (STG:TSXV) - News Alert Sustainable Energy's SUNERGY(TM) Inverter Named Core Product by
Leading Ontario Electrical DistributorSustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy"
or the "Company") Canada's solar inverter company, announced today
that one of Ontario's largest electrical distributors has selected
the SUNERGYTM inverter as its core inverter product for both
micro-FIT and FIT projects in the Province under 100kW and
will begin stocking the product before year end. An initiating
order for 125kW has been received by the Company with a base
demand forecast of 2MW for calendar 2011."This is an important partnership for us," said Michael Carten
Chief Executive Officer of Sustainable Energy. "Ranked as one
of the largest electrical distributors in the Province, our
partner brings access to more than 1,000 electrical contractors
along with significant retail exposure and a rapidly expanding
renewable energy installer base.""Significantly, the relationship also signals a larger scale
ramp of the Ontario solar industry as new mainstream channels
add solar products to their catalogues, and favouring SUNERGY
inverters for the easy to use and high yielding "parallel"
architecture" Carten added.The electrical distribution company will launch a full solar
product offering before year end in partnership with Sustainable
Energy, as well as an Ontario module manufacturer and a racking
solutions firm. Further details will be provided at the time of
product launch.The value of the parallel system architecture design and the
ability to install the SUNERGYTM inverter outdoors continues
to gain market share for Sustainable Energy across Ontario's
fast growing micro-Fit and rooftop FIT markets . According to
a recently completed report by ClearSky Advisors ("Ontario
Market Forecast 2010-2015") Ontario will develop into a largely
commercial rooftop market with more than 70% of new
installations by 2015. Based on research data published
in July, 2010 by IMS Research, Sustainable Energy estimates
that the European and North American commercial markets
below 150kW will need the equivalent of 5 million SUNERGYTM
scale inverters over the next 4 years.For competitive and customer confidentiality reasons,
the Company does not disclose the value of the contracts or the customer.