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Sustainable Energy is a leading developer and manufacturer of power conversion products for the renewable energy industry.
Message: Clarifies News Release Dated February 27, 2009
| March 4, 2009 |
| Sustainable Energy Technologies Clarifies News Release Dated February 27, 2009 |
| CALGARY, ALBERTA--(Marketwire - March 4, 2009) - In its press release issued February 27th 2009, Sustainable Energy Technologies Ltd ("Sustainable" or the "Company") (TSX VENTURE:STG) Chief Executive Officer made the following observation. "These are difficult times, even for the high growth solar power industry, and it is often hard difficult to look past short term quarterly results. But, we have created a company which I believe has the potential to deliver annual earnings in excess of $100 million by 2012." This language does not comply with TSX Venture Exchange guidance disclosure guidelines concerning forward oriented financial information and is hereby retracted. About Sustainable Energy Based in Calgary, Alberta, Canada, Sustainable Energy Technologies Ltd (www.sustainableenergy.com) designs, manufactures and distributes power inverters for grid-connected solar PV systems. 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. Sustainable has developed and patented an extra low voltage inverter technology which enables a massively "parallel" solar PV system architecture, in high power ratings, without compromising electrical conversion efficiencies. With conventional "high voltage" inverters, PV modules must be wired electrically in "series" to meet the inverters' high voltage input specifications. In a "series" configuration each of the PV modules in the string will operate at the level of the poorest performing module. This will typically be caused by (i) partial shading of the PV modules from normal building congestion (e.g. from chimneys, parapets, railings power lines, telecommunications towers, etc), debris and dirt (ii) variances in power output due to variances of the orientation of the PV modules (e.g. building angles curvatures etc.) and (iii) variances in module manufacturing tolerances. Avoiding the disproportionate impact of these factors on system performance now requires site specific custom design of the system, increasing system cost and limiting the number of locations where solar power can be deployed economically. A low voltage inverter enables a "parallel" architecture where each PV module operates at its optimum power point, independently of other modules in the system, limiting the impact of partial shading on system performance, and completely eliminating the potential for module mismatch from variances in orientation of the modules or manufacturing tolerances. |
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