Sustainable Energy Technologies: Collaboration
Sustainable Energy Technologies Ltd, Mitsubishi Electric Sales Canada Inc. ("Mitsubishi") and Voltaire Power Company Ltd.("Voltaire Power"), announced that they will collaborate to provide integrated solar power system solutions combining the patented SUNERGY(TM) low voltage inverter and the premium, high efficiency Mitsubishi Solar modules for residential and commercial applications.
The three companies are also introducing a comprehensive training program created and customized to provide solar dealers and integrators with the necessary knowledge and tools they need to facilitate installations and develop and manage solar power projects using the PARALEX(TM) system architecture throughout Ontario.
"The Ontario market is ripe with opportunity for a variety of solar power projects that range from the residential to the commercial," said Sanjay Razdan, President and CEO of Sustainable Energy. "We're confident that our collaboration with two innovative partners in solar - Mitsubishi and Voltaire Power - will not only be successful for our businesses, but in educating solar dealers and in advancing the adoption of solar power solutions across Ontario as well."
The training is an exclusive and proprietary program providing solar dealers and integrators the opportunity to tap into the Ontario market with the most comprehensive PV solutions and expertise to facilitate installation and project development. All of the trainers will be provided by Sustainable Energy, Mitsubishi Electric and Voltaire Power to ensure participants with the highest levels of expertise in order to facilitate the sale and installation of at least 10MW of systems over the next 12 months.
The first training session will take place on June 24 - 25, 2010 at the Mitsubishi Electric Canada headquarters 4299 14th Avenue, Markham, Ontario. More than 300 solar dealers will be trained over the next 12 months on PV system design, mounting systems, Mitsubishi Electric solar modules, and Sunergy Inverters and Paralex solutions.
About Mitsubishi Electric: Mitsubishi Electric Sales Canada Inc., established in 1979 as a subsidiary of the Mitsubishi Electric Corporation of Japan, markets an extensive line of consumer, commercial and industrial electronics products, some of which include air conditioning and heating systems, projectors, commercial LCD displays and solar modules.
About Voltaire Power: Voltaire Power Company Ltd. is a Canadian-based renaissance company that provides design services, distribution of balance of systems and facilitates financing of solar energy systems for commercial and residential dealer customers. Its solar energy systems are the embodiment of its strategy - the economic deployment of distributed renewable energy technologies.
About Sustainable Energy Technologies Ltd: Sustainable Energy (www.sustainableenergy.com ) designs, manufactures and distributes power inverters for grid-connected solar PV systems under the SUNERGY(TM) trademark. Advanced power inverters are a critical enabler of all modern solar PV power systems converting the direct current ("DC") power output of the solar PV modules into the high quality alternating current ("AC") power required by the power grid. Advanced power inverters also optimize the performance of the solar PV modules and maintain the integrity and safety of the interconnection with the power grid.
PARALEX(TM) (www.paralexsolar.com) is a solar power system architecture enabling solar modules to be wired in a parallel array. Using Sustainable Energy's patented SUNERGY(TM) inverter technology, the PARALEX(TM) architecture enables each solar module to operate independently of any other module in the system delivering 5-15% increased energy yield, without the expensive hardware and continuing maintenance cost of micro-inverter products. Every module delivers its maximum power potential while eliminating the string inverter impact of shading, soiling and other real world factors.
A video explaining PARALEX(TM) and its advantages can be found at www.paralexsolar.com.
The extra low operating voltage of the SUNERGY platform enables a system architecture that is inherently safe and that can be installed and maintained by most building trades without the need for custom design, significantly reducing the installed system cost and increasing investor yields.
Sustainable Energy's technologies are the subject of multiple patents issued by and pending with the US Patent and Canadian Patent Offices.
Forward Looking Information
The reader is advised that some of the information herein may constitute forward-looking statements within the meaning assigned by National Instruments 51-102 and other relevant securities legislation. In particular, we include: statements concerning the impact of our technology on solar PV system performance and concerning our plans to collaborate with Mitsubishis and Voltaire in Ontario. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. In particular there is no assurance that performance of the systems will be as estimated or that the collaboration will result in material sales of SUNERGY inverters in in Ontario.
Many factors could cause the Company's actual results, performance or achievements, or future events or developments, to differ materially from those expressed or implied by the forward-looking information. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date hereof. Readers are also directed to the Risk Factors section of the Company's current Annual Information Form which may be found on its website or at www.sedar.com The Company does not undertake any obligation to release publicly any revisions to forward-looking information contained herein to reflect events or circumstances that occur after the date hereof or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Sustainable Energy Technologies
(403) 508-7177 #111