11.1.2008: Meldung: Xantrex Technology Inc.: contract for 2008 with Solon AG
VANCOUVER, Jan. 10 /- Xantrex Technology Inc. announced today that it has signed a contract for 2008 with SOLON AG, valued at approximately US$12 million, to supply solar grid-tie inverters for the European, North American, and Australian markets. Xantrex expects to ship approximately two-thirds of the contract value in the first half of 2008. SOLON has the option to increase the size of the contract in the second half of the year.
"Xantrex welcomes this new $12 million agreement with SOLON which reflects an increase of 60 percent from the $7.5 million 2007 contract. This is an expression of continued confidence in our products and service, and a further opportunity to supply our leading solar grid-tie inverters in the fast-growing solar markets," said Mossadiq S. Umedaly, Xantrex"s Chairman.
Xantrex grid-tie inverters have become the inverters of choice for a growing number of solar system installers and their customers, offering a solution with excellent value, performance, reliability, ease of installation, and high power density.
Xantrex CEO John Wallace commented, "The success in the marketplace of the SOLON Mover dual-axis tracking system equipped with Xantrex"s customized premium inverter technology has enabled Xantrex to penetrate new markets and build upon our mutually beneficial partnership with SOLON. We are committed to expanding this successful relationship in the months ahead."
"Demand for turnkey multi-megawatt solar power projects presents great market opportunities in 2008 and we are looking forward to continuing our strategic partnership with Xantrex to supply inverters for the SOLON Mover product," said SOLON CEO Thomas Krupke.
The Xantrex solar grid-tie inverters are installed on the base of SOLON"s dual-axis solar photovoltaic (PV) tracking system called the SOLON Mover, which tracks the position of the sun. The inverters contribute to the superior power generation capability of the SOLON Mover by efficiently converting direct current (DC) power from solar panels into alternating current (AC) power for sale to the electricity grid.
Xantrex Technology Inc. (www.xantrex.com) is a world leader in the development, manufacturing and marketing of advanced power electronic products and systems for the renewable, programmable, mobile, and portable power markets. The company"s products convert and control raw electrical power from any central, distributed, renewable, or backup power source into high-quality power required by electronic and electrical equipment. Headquartered in Vancouver, British Columbia, the company has facilities in Arlington, Washington; Livermore and San Diego, California; Elkhart, Indiana; Barcelona, Spain; and Reading, England. Xantrex is listed on the Toronto Stock Exchange under the ticker symbol "XTX".
About SOLON AG
SOLON AG fur Solartechnik (www.solonag.com) is one of the largest solar module manufacturers in Europe and a leading supplier of photovoltaic systems for large-scale solar power plants. The SOLON Group has subsidiaries in Germany, Austria, Italy, Switzerland, and the U.S. and employs more than 700 people worldwide. The SOLON Group"s core business is the manufacture of solar modules in various performance categories and of complete photovoltaic systems for the construction of solar power plants.