7.2.2007: Meldung: Sustainable Energy -2006 Corporate Update

Sustainable Energy Technologies Ltd. has reported its financial and operating results for the fiscal year ended September 30, 2006.

The Financial Statements, Management Discussion and Analysis and Corporate update containing a more fulsome discussion 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 2006.

Following are some highlights of the Management Discussion and Analysis. If you have any questions or comments please do not hesitate to contact Michael Carten President & CEO at Michael.carten@sustainableenergy.com.

2006 Overview
- 2006 saw Sustainable Energy establish a significant beachhead in the world"s fastest growing solar PV power market, partnering with one of Europe"s leading solar module manufacturers to jointly market the SUNERGY inverter in Spain. In Q3, the Company signed its first multi-megawatt agreement to deliver more than 5 MW of SUNERGY inverters to Solaer SA, one of Spain"s largest solar power project developers.
The Company has already delivered more than 25% of the order since November 2006, and expects to complete deliveries in the current fiscal period providing a base $2.5 million in product sales revenues for the 2007 fiscal year.
- Anticipated product sales for 2006 did not materialize for two reasons:
First, there were significant delays in production startup by our manufacturing partner. We have since restructured that relationship and we are manufacturing inverters in Canada and China, with final assembly and testing in Spain. We have established local partnerships after sales services and we are in discussions with a large Spanish company to manufacture the electronics module in Spain.
Second, the surprising emergence of multi-megawatt projects in Spain, and a global shortage of solar modules left conventional distributor channels short of product for smaller projects. This also impacted Free Power SL which did not place any of the previously forecast orders. Although we successfully responded to these developments with the negotiation of our marketing partnership, first deliveries did not occur until Q1 of 2007.
- Notwithstanding disappointing sales results in 2006, we are satisfied with our decision to focus on Spain and the Southern European market. Early estimates are that between 50 MW and 60 MW of solar PV were installed in Spain during calendar 2006. This is expected to double in 2007 making it larger than the entire North American market and to reach as much as 400 MW per year by 2010.
The Spanish market is characterized by large investor owned projects which use solar trackers to increase power output. According to Solar Plaza this is by far the most important segment of the market. In this application, the ability of the inverter to operate at full power all day long is a key competitive criterion. Unlike most inverters in the market, which must reduce power as ambient temperatures climb above 30 degrees Celsius, the SUNERGY inverter operates at full power all day in temperatures exceeding 50 degrees Celsius.
We are confident that this feature will lead to additional orders in Spain and other southern European markets for other solar tracker applications.
- With the change in our manufacturing strategy, the Company was required to invest more capital in component inventory than would otherwise have been the case under our previous manufacturing partnership. To meet the need for additional liquidity, we raised $2.19 million, issuing limited partnership units exchangeable into common shares of the Company. The limited partnership units have been exchanged into 14,837,607 common shares (average $0.15 per share) effective January 31, 2007. The Company also established an export financing credit for $500,000 with a Canadian Chartered Bank and Export Development Canada.
- With combined funding from the US Air Force and Canada"s National Research Council, Sustainable Energy we completed planned development of proprietary (patent pending) software algorithms which make the SUNERGY inverter interchangeable between grid-interactive and grid-independent applications.
The upgraded SUNERGY inverter will be the only product in its class which (i) can operated in a grid-interactive or grid-independent mode, (ii) is impervious to the elements, and (iii) which operates at full power with very high efficiencies in temperatures ranging from minus 30 degrees Celsius to more than 50 degrees Celsius.
Potential markets include (i) grid-interactive back up-power systems where solar and wind power can be used to charge batteries during grid outages but which can also generate revenues from sales to the power grid, as well as (ii) the emerging micro-grid market where solar and wind power is used in combination to reduce diesel fuel consumption and provide more stable, lower cost power for forward military and paramilitary installations, remote communities and long term disaster relief.
- Following year end, we reached an agreement with Belliss India Limited under which Belliss will build a commercial version the Chinook 250 vertical axis wind turbine for the Indian market. Bellis has been manufacturing steam turbines for the power industry in India for more than 40 years, and is an ideal partner to commercialize the Chinook design.
The Indian government has made a significant commitment to rural electrification, and there is a very sizable market across India for turbines in this power rating, as a diesel fuel saver. With an estimated cost of energy of about $0.06 per kWh, and a rugged, and very serviceable design, the Chinook 250 is ideal for the rural electrification market.
The project is underway and Belliss anticipates being in the market by year end. Sustainable has a right to back in to 25% of the business in India.

About Sustainable Energy
Based in Calgary Alberta, Sustainable Energy (www.sustainableenergy.com) develops manufactures and markets advanced power inverters for the renewable energy industry. Power inverters are strategic to the integration of new renewable energy technologies - solar and wind power, fuel cells, and energy storage systems - into the high quality power demands of the modern electrical grid.
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Michael Carten
Sustainable Energy Technologies Ltd.
President and CEO
(403) 508-7177 #111
Email: Michael.Carten@SustainableEnergy.com
Website: www.sustainableenergy.com
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