Sustainable Energy Technologies: Partnership with Innovative Air Solutions
Sustainable Energy Technologies Ltd and Innovative Air Solutions Inc., a Toronto and Vancouver based green energy solutions provider, announced that they have partnered to supply up to 5MW of PARALEX(TM) solar PV generators featuring Bosch Solar thin film PV modules to the Ontario market in 2010.
The first delivery of 10 systems or a total 200kw of PARALEX solar generators will begin in June and is expected to ramp quickly as the first sites deliver strong economic results to their owners.
"Sustainable Energy's PARALEX(TM) solar generator is ideal for our micro-fit and commercial customers" said Geoffrey Smith, CEO of Innovative Air. "Using the patented SUNERGY inverter, PARALEX(TM) minimizes the typical solar system application constraints, while delivering maximum energy yield with an all important, low voltage safety advantage. When combined with a globally trusted solar panel brand like Bosch Solar, the solution exceeds our customers are expectations."
Innovative Air is a Canadian company with a mission to provide innovative micro-generation renewable energy and energy efficient solutions to agricultural, commercial, and institutional buildings. In addition to delivering medium-scale commercial solar and geo-thermal projects, Innovative Air has an extensive network of renewable energy dealers in Ontario who target the rural and residential customer for solar projects.
"The partnership with Innovative Air is an important milestone for Sustainable Energy, marking our first PARALEX sales into the Ontario market. With this agreement we have now established a major distribution channel into the extensive, micro-fit, small solar marketplace under Ontario's Green Energy Act" said Michael Carten, Chairman and Acting CEO of Sustainable Energy. "Innovative Air's management team has an excellent track record, impeccable reputation, and the critical construction resources in Ontario to maximize the opportunity in the green energy space."
Sustainable Energy's new PARALEX(TM) product line combines the patented SUNERGY(TM) low voltage inverter and the premium, high efficiency Bosch Solar amorphous silicon, thin film PV modules to deliver higher energy yields, reduce installation costs and enable the industry's first inherently safe solar PV system. The inherent safety of the very low system operating voltages enabled by PARALEX(TM) make it ideal for schools, public buildings, residential buildings and other applications where public safety is a driver.
A video explaining PARALEX(TM) and its advantages can be found at www.paralexsolar.com.
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.
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 statements concerning the potential for sales in the markets we have entered in particular the Ontario micro-fit market;. 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 market demand in Ontario will materialize
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.
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