TMCnet News
Sustainable Energy Ships Smart Grid Energy Storage Inverters to Germany and the United States(Marketwire (Canada) Via Acquire Media NewsEdge) CALGARY, ALBERTA--(Marketwire - Feb. 5, 2013) - Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") a supplier or intelligent power electronics for smart grid and micro-grids, announced today that it has shipped its first energy storage inverters to prospective channel partners in Germany and the United States. The inverters will demonstrate the value of the Company's technology in enabling the integration of high efficiency battery technologies in smart grid and micro-grid applications. Michael Carten, CEO of Sustainable Energy commented: "The residential solar energy storage market is about to take off in Germany. Smart inverters which enable the direct connection of new low voltage batteries to the power grid are a critical component to all energy management systems. The very few German solutions in the market are complex and expensive. We are experiencing across the board interest in our bi-directional energy storage inverter in Germany, which works with all the new battery technologies, for its efficiency and smart grid functionality but especially for its ability to reduce the cost and complexity of the energy management systems. "In the US, we are seeing interest in the platform for diesel based micro-grids for our cost and efficiency advantages. "Significantly, we are one of only two companies in the world which have grid-interactive energy storage inverters that are certified for both European and North American markets. By the end of this Quarter, we expect to have certification in Japan, enabling OEM partners to develop global applications with the same electronics platform." Energy Storage Inverter Sustainable Energy's bi-directional energy storage inverter has the highest round trip (battery charging and discharging) efficiencies for grid-interactive energy storage inverters in the power industry. The software configurable platform has an open communications protocol which enables full utility control over the battery charging and discharging functions. The inverter has been designed from the bottom up to be easily integrated into power management systems allowing OEM partners to quickly develop lower cost products for multiple markets around the same electronics platform Smart-Grid Energy Storage In European smart-grid applications, the Company's energy storage inverter manages the integration of batteries and solar power with the power grid to optimize the use of lower cost solar electricity typically as part of home energy management systems. In Germany, demand is being driven by consumer demand to de-couple from rising electricity prices and capture the value of the spread between solar and grid electricity prices. Micro-Grid Micro-grids are small islands of power serving multiple loads which are typically disconnected from the utility grid in remote community, industrial or military settings, but in some markets such as Japan are integrated with the grid and operate to maintain pockets of higher power quality within the utility grid. Energy storage is typically used on micro-grids in combination with diesels to provide firm high quality power and optimize diesel operating efficiencies. With rapidly falling solar electricity cost, solar energy is also being used to reduce diesel fuel consumption which continues to rise with rising oil prices About Sustainable Energy: Sustainable Energy (www.SustainableEnergy.com) designs and manufactures advanced power electronics for distributed smart grid and micro-grid applications. Advanced power electronics are a critical interface between all distributed generation and storage systems devices, ensuring the delivery of high quality alternating current (AC) to the power grid as well as providing utility control over the interconnection and power quality. Sustainable Energy has designed a simple low cost platform that is software configurable for a wide range of low voltage generation and storage technologies, including solar PV fuel cells and all the emerging battery technologies. The Company's platform is based on breakthroughs in power conversion technology that enable its platform to convert high current/low voltage DC into high quality AC with conversion efficiencies that are materially higher than anything in the market. 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 efficiency and cost advantages of our energy storage inverters; the potential growth of demand for energy storage inverters in Germany and the potential demand for energy storage inverters for micro-grids. 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. FOR FURTHER INFORMATION PLEASE CONTACT: Sustainable Energy Technologies Ltd. - Company Contact Michael Carten Chief Executive Officer 403.630.9544 [email protected] Alliance Advisors, LLC - Investor Contact Valter Pinto 914.669.0222 [email protected] 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. Source: Sustainable Energy Technologies Ltd. |