Sustainable Energy Technologies Ltd. : Sustainable Energy Believes U.S. Anti-Dumping Ruling 0n Chinese Modules Will Be Overall Positive to Company’s Outlook
05/22/2012| 02:21pm US/Eastern
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The Company believes that the ruling will be positive to
Sustainable Energy's outlook as most of its US
sales are currently connected to sales of the US based
tenKsolar RAISWAVE system. On Friday, May
18, 2012, TenKsolar
announced ( www.tenksolar.com) that it
relies on solar cells produced in the United States, Taiwan
and Korea and has avoided signing contracts with Chinese
suppliers because of the pending trade case.
According to Bloomberg New Energy Finance, the U.S. decision
to impose import duties on Chinese solar panels will raise
Chinese module price to $1.11 approximately 17% higher than
prior to the ruling.
"We believe that the ruling will make the PARALEX
enabled RAISWAVE system even more competitive in the US
market," said Michael Carten CEO of Sustainable
Energy. "As the PARALEX inverter is a critical
component to the tenKsolar system this will be positive to
Sustainable Energy."
About Sustainable Energy:
Sustainable Energy (www.SustainableEnergy.com) is a Canadian
power electronics company which supplies Canada, the U.S. and
Europe. The Company's patented inverter technologies are a
breakthrough in power inverter design and functionality for
all forms of distributed generation storage and smart grid
applications. Approximately 20 MW of first and
second-generation products have been installed in 7 different
countries.
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 potential for growth solar PV system
performance; statements concerning the impact of the impact
of US Commerce Department Duties on Chinese module pricing
and on US demand for tenKsolar's products.
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.
Company Contact Information
Michael Carten
Chief Executive Officer
Phone: +1.403.630.9544
Michael.Carten@SustainableEnergy.com
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