TORONTO, ONTARIO--(Marketwire - June 16, 2011) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy") is pleased to announce that their - Made in Ontario, SUNERGY™ inverter has been chosen to power 3 MW (600 Units) of 100% Canadian technology solar 'kits' to be packaged by Ontario Solar Manufacturing Corp. ("OSM").
Recently celebrating the opening of their 68,000 ft2 manufacturing facility in Welland, Ontario, OSM has assembled a package of '100% Canadian Solar kits' to be sold into the burgeoning Ontario microFIT market which has over 201 MW of Conditional Contracts offered by the Ontario Power Authority and only 47 MW of projects currently installed (23%). OSM's recognition of the made in Ontario, low voltage, greater yield, value proposition that the SUNERGY™ inverters bring, makes them an obvious choice for these 'kits'.
"Solar PV is the fastest growing energy industry today. Many people want solar but they don't want to break the bank to get it. Creating pre-packaged solar kits allows us to bring down the cost of a solar system to a price point most people can afford" says John Gamble, president and CEO of OSM, "The SUNERGY inverters are a key part of our kit design, ensuring every system operates with industry leading efficiency and quality. We also enjoy the peace of mind we have by selling our customers safe low-voltage systems. "
Sustainable Energy Technologies' SUNERGY inverters were developed in Canada, and are manufactured in Cambridge, Ontario with planned production in Guelph starting in late July, making them the only 100% Canadian inverter technology. SUNERGY inverters are the ideal product for the Ontario solar market with their impressive ±40C rating, CEC efficiency of 94.4% and the low-voltage aspect creating a safe and secure system with the added value of parallel wiring.
About Ontario Solar Manufacturing Corp.:
OSM Solar Corp. has a 68,000 ft2 manufacturing facility located in a Welland Ontario, Canada (www.OSMSolar.com), which currently employs over 30 employees, manufacturing Ontario content compliant solar panels based on Symphony Energy's brand of Solar Modules, which fully qualify under Ontario's FIT program. OSM's management has over 25 years of solar experience in the engineering and design of solar panel components. OSM is currently producing 230w panels and will start to produce 260w and 310w panels in July.
About Sustainable Energy:
Sustainable Energy (www.SustainableEnergy.com) is Canada's solar inverter company. The Company's patented inverter technologies are a breakthrough in power inverter design and capabilities for all forms of distributed generation and smart grid applications. The SUNERGYTM inverter is the industry's only grid-interactive solar inverter which enables a "parallel" solar PV system architecture in higher power ratings at a cost and serviceability factor that is comparable to conventional inverters in the market. The benefits of parallel solar are: (i) 5% - 25% higher total system power output; (ii) a better fill factor enabling better coverage of available space; (iii) a simplified system design and installation; and (iv) the safety of extra low operating voltages which ensures the safety of building maintenance personnel, first responders, and tradesmen who may accidentally come into contact with system wiring. Sustainable Energy's technologies are the subject of multiple patents issued by and pending with the Canadian and US Patent Offices. Follow us on Twitter @SunergySTG
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; statements concerning demand for products; statements concerning Nedco and statements concerning the potential for positive cash flow and earnings. Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties.
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.