May 7, 2007

Vancouver firm to join major U.S. solar energy development initiative

VANCOUVER, BC-Xantrex Technology has been selected to develop next-generation solar inverters to support the U.S. Department of Energy's (DOE) Solar America Initiative. Xantrex will be a key member of consortiums involved in four out of 13 solar technology development projects selected by DOE in March for future funding under the initiative. As a participant in these project teams, Xantrex will be working with industry-leading partners such as SunPower, GE Energy, BP Solar and Amonix to develop inverter equipment. The Solar America Initiative will provide approximately $150 million in funding for these projects, which are aimed at advancing the commercial competitiveness of solar electricity. Through a rigorous review process, Xantrex and a select group of companies, universities, and researchers will receive funding over three years to develop photovoltaic (PV) systems capable of bringing the cost of solar electricity to a target level competitive with retail electric rates by 2010. The current cost of solar electricity, using present PV technology, is roughly double the target objectives. The partnerships will develop integrated systems that consider the entire solar power production process, including modules, racking, inverters and other balance-of-system components. Vancouver-based Xantrex specializes in developing and manufacturing equipment to convert raw electrical power from any central, distributed, renewable, or backup power source into high-quality power required by electronic and electrical equipment. The company has facilities in Arlington, Washington; Livermore and San Diego, California; Elkhart, Indiana; Barcelona, Spain; and Reading, England. More information is available on-line at www.xantrex.com.

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