TORONTO, ONTARIO--(Marketwire - Dec. 7, 2011) - Sustainable Energy Technologies ("Sustainable"), (TSX VENTURE:STG) a provider of smart grid inverters for distributed grid-interactive generation and energy storage today announced a partnership with MicroPlanet Technology Corp. ("MicroPlanet"), (TSX VENTURE:MP) (OTCBB:MCTYF.PK - News) whereby MicroPlanet will provide micro-FIT projects with its smart grid voltage regulation and power quality technology.
With proprietary four-quadrant design the MicroPlanet smart voltage regulator increases and decreases voltage precisely to programmable set points and regulates bi-directionally on, to, and from the grid. Working with embedded solar photo-voltaics, the MicroPlanet smart voltage regulator eliminates tripping and provides real time visibility on end of line power quality.
MicroPlanet has delivered almost 2,000 smart voltage regulators in Australia and New Zealand alone, assisting utilities in those countries to successfully mitigate the same voltage regulation challenges faced by Ontario utilities in integrating embedded solar PV on the fringes of their distribution networks. Unlike traditional power quality solutions the MicroPlanet voltage regulator is installed incrementally at the source of the problem, thereby materially reducing the cost of bringing high quality power to Ontario's rural grid.
Brent Harris P. Eng. Chief Technical Officer of Sustainable Energy, who actively participated in a series of technical workshops over the past six months regarding rural micro-FIT connectivity issues on behalf of the Canadian Solar Industries Association stated, "Everyone recognizes that maintenance of power quality, especially voltage control at the end of long feeder lines, is an issue for electrical distributors with the emergence of embedded solar generation. We are very pleased to have identified MicroPlanet's proven voltage regulator which will eliminate many of the headaches with end of line systems. It can be easily and inexpensively installed under the direction of the utility and funded by the by the project owner."
Sustainable Energy has reached agreement with MicroPlanet to distribute its products and intends to bundle their smart regulators with its high yield PARALEX inverters.
"We are pleased to be able to work with Sustainable Energy in addressing an industry-wide challenge for renewable energy's integration into existing electrical grids," said Brett Ironside, President & CEO of MicroPlanet. "We have been working for several years with the largest utilities in Europe and Australia and have sold thousands of units specifically to reduce energy consumption and control voltage on the fringes of their networks. This is exactly what our technology was designed for."
MicroPlanet recently demonstrated the latest generation of its smart voltage regulator at the Solar Decathlon (www.solardecathlon.gov/), hosted by the U.S. Department of Energy's National Renewable Energy Laboratory ("NREL") in Washington DC. "We are extremely proud of our flawless performance managing integration of 100% solar concentration for their entire micro grid without a single problem," Ironside continued.
The Micro-FIT Program is a stream of the Ontario Power Authority's ("OPA") Feed-in Tariff ("FIT") Program for renewable energy in Ontario. It is intended to encourage the development of "micro-scale" renewable energy projects across the province. Owners of these projects will be paid a fixed price for the electricity they produce. Prices are set at a level intended to enable project owners to recover the costs of the projects, as well as to earn a reasonable return on their investment over the term of the contract.
About MicroPlanet Technology Corp.
MicroPlanet is a provider of smart grid technology that regulates voltage and improves power quality. MicroPlanet has considerably advanced the art of voltage regulation to be extremely efficient, fast, precise, multi-phase, and bidirectional, enabling the integration of distributed generation. Elimination of flicker and measurement, verification, and communications capabilities the most recently available product features. MicroPlanet's technology has been deployed in nine countries by more than 20 utilities, the U.S. military, U.S. Department of Energy, and multiple commercial customers to save energy, improve power quality and grid efficiency, and to facilitate the integration of renewable energy sources, including solar and wind, in Australia, Europe, and the United States. MicroPlanet has delivered almost 2,000 voltage regulators in Australia and New Zealand alone, assisting utilities there in mitigating voltage challenges on the fringes of their distribution networks.
About Sustainable Energy:
Sustainable Energy (www.SustainableEnergy.com) is a Canadian solar inverter company which supplies Canada, the U.S. and Europe. The Company's patented inverter technologies are a breakthrough in power inverter design and capabilities for all forms of distributed generation and smart grid applications. Sustainable Energy's 2nd generation PARALEX inverter is reporting 99.8% reliability based on field experience with more than 16MW installed in 7 different countries over a three year period.
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 impact of the MicroPlanet voltage regulator on system performance; and statements concerning the potential for growth solar PV system performance; and statements concerning demand for 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.
- Sustainable Energy
- voltage regulator
Sustainable Energy Technologies
Chief Executive Officer
Dave Burwell / Grant Howard
The Howard Group
MicroPlanet Investor Relations
President & Chief Executive Officer
Chief Financial Officer