FIRST QUARTER RESULTS
Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") announced that it has filed its Consolidated Financial Statements for the Quarter ending December 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.Volumes for Q1 2012 were in line with expectations given the slowdown in Ontario. Quarterly sales revenues for Q1 were $1,011,125 with most inverters going to the US where we launched the new Deliveries are currently running at more than 200 units per month and product margins are averaging 24% in very low volumes. We are on track to reduce manufactured cost by a further 20% with the release of our 3rd generation PARALEX later this year.Cash flow used in operations in Q1, 2012 was $775,922 compared to $2,598,062 for Q1, 2011. The savings were achieved without a material loss in operational integrity. We have significantly increased manufacturing yields at the Guelph facility which now has an immediate production capacity of 800 units per month. This is easily scalable to double that amount with a minimal capital investment in production test equipment."We are delighted that Ontario has introduced its revised feed in tariff pricing structure for solar PV. While prices are reduced they reflect significantly reduced costs of solar PV modules and should lead to more stability in the market." said Michael Carten CEO of Sustainable Energy. "Early market feedback is that the pricing will sustain steady demand in our target market segments which we estimate at between 50 and 80 MW for calendar 2012.""We have a profitable product, a very low cost operating structure and visibility on volumes that put us on track to achieve profitability this year."