GOOD NEWS. GERMAN MARKETustainable Energy's Energy Storage Inverter Selected by Leading European
Energy Management System Supplier
Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company"), a manufacturer of intelligent power electronics for distributed
generation and storage systems, announced today that it has agreed on the essential
elements of an exclusive, multi-year deal to supply its energy storage inverters
to a leading supplier of energy management systems for European markets.
The agreement is subject to negotiation of final licensing and supply
contracts over the next 30 days, and satisfactory integration of the
inverter into the energy management system over the next 60 days.
Michael Carten, CEO of Sustainable Energy commented: "We are right on track
with our strategy for this segment of the market. Our expectation is to deliver
a minimum of 10,000 units to the German market over the next 30 months with
first deliveries targeted for May. We are excited about the relationship with
our partner, who is not disclosed for competitive reasons, and we both expect
to be able to expand this relationship into other markets. We will keep
shareholders updated as we meet our internal milestones."
German Federal Ministry of the Environment staff have recently advised that
the Ministry will introduce an incentive program to encourage solar energy
storage by May of this year. According to press reports, (see: www.photovoltaik.eu)
the program will provide direct subsidies for the purchase of energy storage
systems storing up to 30 kilowatt hours of solar energy for self-consumption.
In addition to the subsidies, German government owned KFW Bankengruppe provides
attractive high ratio low interest loans to assist buyers to acquire these systems.
Carten added: "As it did with solar power 9 years ago, Germany is taking
the lead in making energy storage an integral part of the smart power grid
of future. Our energy storage inverter is positioned to become an industry
standard in the consumer and small commercial segment of the solar energy
storage market with lower costs, a simpler design, and much higher
efficiencies than any other product in the market."
Energy Storage Inverter
Sustainable Energy's bi-directional energy storage inverter directly
connects high efficiency batteries to the grid with the power industry's
highest round trip (battery charging and discharging) efficiencies. Unlike
most inverters, the Company's platform has an open, industry standard,
communications protocol which enables full utility control over the
battery dispatch and power quality functions needed for smart grid operations.
The software configurable platform has been designed from the ground up
to be easily integrated into power management systems, allowing OEM partners
to quickly develop lower cost products for multiple markets around the same
electronics platform. The energy storage inverter is CE certified and meets
all VDE smart grid connectivity standards. The same inverter is currently on
track for certification for North American and Japanese markets in the next
few weeks.