August 2-9, 2004

Burnaby firm signs deal to supply solar inverters to German client

Xantrex Technology, of Burnaby, BC has received an order for two units of its GT100E, a new 100-kilowatt grid-tie inverter designed for the European industrial solar market. In addition, a letter of intent calls for another 28 units; if this is converted to an order, Xantrex estimates the revenue from the 30 units would be approximately $800,000 (U.S.).

The two ordered units are to be delivered in the third quarter of 2004 to AET Alternative-Energie-Technik GmbH of Sulzbach, Germany, a leading European distributor of solar products and a Xantrex customer in the solar off-grid market. The units would be installed in Germany, where the industrial solar power market has grown significantly following the introduction this year of a new tax credit.

Xantrex launched the GT100E commercially this spring, having tested the unit since late last year at the Science and Technology Park in Gelsenkirchen, Germany. The GT100E converts 100 kilowatts of direct current electricity produced by solar panels into high-quality alternating current and ties the electricity to the utility grid. Multiple units can be paralleled for large power installations.

"We have designed this product specifically for the European market," said Xantrex chairman Mossadiq Umedaly. "This product offering is attractive because of its reliability and its ability to maximize the energy harvested from a photovoltaic array," he added.

Xantrex Technology specializes in the development, manufacturing and marketing of advanced power electronic products and systems for the distributed, mobile and programmable power markets. The company's products convert raw electrical power from any central, distributed, or backup power source into high-quality power required by electronic and electrical equipment.

More information is available from Donna Clark at Xantrex, 604/422-2601, E-mail Donna.Clark@Xantrex.com, Web site www.xantrex.com.

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