CALGARY, ALBERTA--(Marketwire - April 10, 2008) - Sustainable Energy Technologies Ltd. (TSX VENTURE:STG), ("the Company" or "STG") is pleased to announce the appointment of Gregory H Nelson to its Board of Directors and senior management team, effective April 7, 2008. Greg Nelson was formerly Executive Vice President and Chief Operating Officer of First Solar, the world's largest manufacturer of thin film solar PV modules.
Mr. Nelson has more than 20 years experience in managing the transition of technology companies from product development to commercial success. Michael Carten, Chief Executive Officer, and a Co-Founder of Sustainable Energy, comments: "Greg adds significant capability to our Company with his experience in managing global development and sales initiatives for technology companies as well as his understanding of the solar power industry. We are very excited about working with him on our next phase of growth." In his capacity as an executive of the Company, Mr. Nelson will assist the Company in the development and execution of its marketing and manufacturing strategies.
The Company has granted Mr. Nelson 500,000 stock options pursuant to its Stock Option Plan with vesting to occur over a three-year period. The Company has also granted an additional 275,000 options to a number of other Company employees. All options are exercisable, when vested, at $0.24 per share.
About Sustainable Energy Technologies Ltd.: Based in Calgary, Alberta, Canada, Sustainable Energy designs, manufactures and distributes power inverters for distributed alternative energy applications. Power inverters convert and control the raw power output of renewable power generators (such as solar and small wind power systems) and energy storage systems (such as batteries and stationary fuel cells) to grid-quality power.
The Company is focused on delivering product solutions to the solar power market in Europe. Its products are differentiated from the competition by their ability to maintain high efficiencies with high current/low voltage inputs and their rapid control response to changes in operating conditions. These features are especially valuable for building integrated solar power systems.
For more information on the Company and its SUNERGY inverter please visit: www.sustainableenergy.com.
Certain statements contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.
