May 26, 2008 11:07 ET
Sustainable Announces Joint Marketing & Distribution Agreement With Ingeteam
CALGARY, ALBERTA--(Marketwire - May 26, 2008) - Sustainable Energy Technologies Ltd. (TSX VENTURE:STG), ("the Company" or "Sustainable") announced today that it has signed a letter of intent with Ingeteam SA pursuant to which the companies have agreed that each will market and distribute the other company's products.
Under the proposed arrangements, Sustainable will the supply its extra low voltage inverters to Ingeteam for distribution by Ingeteam under the SUNERGYTM brand name, or, at Ingeteam's option, under the Ingeteam brand name, in specialty markets, such as thin film rooftop and building integrated PV and concentrated PV ("CPV") applications. Ingeteam will supply Sustainable with Ingeteam high voltage central inverters for distribution in Europe and North America.
Sustainable and Ingeteam will also collaborate to jointly market their inverters for CPV systems in Europe and North America.
About Ingeteam: Based in Navarra Spain, Ingeteam S.A. (www.ingeteam.es) is a leading independent supplier of power conversion and control systems for wind turbines and solar PV systems. The solar division is ranked as one of the market leaders in the world and manufacturers a full range of high-voltage solar inverters with power ratings as high as 500kW.
About Sustainable Energy: Based in Calgary Alberta, Sustainable (www.sustainableenergy.com) Energy Technologies designs and manufactures and distributes power inverters for distributed alternative energy applications, including solar PV and small wind power systems and energy storage systems, such as batteries and stationary fuel cells.
Sustainable's SUNERGYTM solar inverter is an "extra low voltage" platform which offers several very distinct advantages over high voltage inverters for grid connected solar PV systems, especially for thin film rooftop solar PV systems and building integrated PV applications.
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.
