Welcome!

News Feed Item

Sustainable Energy Announces Completion of $500,000 Equity Financing with Doughty Hanson

CALGARY, ALBERTA -- (Marketwire) -- 12/27/12 -- Sustainable Energy Technologies Ltd. (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") is pleased to announce the successful completion of a $500,000 equity financing with Doughty Hanson Technology Ventures.

Doughty Hanson acquired 50,000 units at a price of $10 per unit, each unit being comprised of one, 8%, five-year First Preferred Shares, Series 13, convertible into Common Shares at a conversion price of $0.40 per share and 20 five-year Common Share Purchase Warrants exercisable at a price of $0.50 per share.

The Doughty Hanson investment will provide additional capital to the Company to shift production to its 3rd generation PARALEX "STX" inverter for North American and Japanese solar PV markets; and to begin first production of its "AC Battery" for markets in Germany and Japan. (See: News Release: dated Sept 26, 2012 "Sustainable Energy Releases World Class Proprietary "AC Battery" Technology for the Growing Energy Storage Market").

Following the completion of the equity financing and its recent share consolidation, Sustainable Energy has 20,915,581 Common Shares issued and outstanding and preferred shares convertible into approximately 8,178,078 Common Shares. Doughty Hanson currently holds 1,250,000 Common Shares and preferred shares and warrants convertible into 4,960,000 Common Shares. The securities issued to Doughty Hanson in connection with equity financing are subject to a four month hold period expiring on April 28, 2013.

About Doughty Hanson: Doughty Hanson (www.doughtyhanson.com) is one of Europe's most successful independent private equity firms. Since 1985, Doughty Hanson has undertaken more than 118 investments with an aggregate acquisition value in excess of EUR28 billion. Doughty Hanson employs over 50 investment professionals of 15 nationalities, located in offices in London, San Francisco, Frankfurt, Madrid, Milan, Munich, Paris and Stockholm.

About Sustainable Energy:

Sustainable Energy (www.SustainableEnergy.com) designs and manufactures advanced power electronics for distributed smart grid and micro-grid applications. Advanced power electronics are a critical interface between all distributed generation and storage systems devices, ensuring the delivery of high quality alternating current (AC) to the power grid as well as providing utility control over the interconnection and power quality.

Sustainable Energy has designed a simple low cost platform that is software configurable for a wide range of low voltage generation and storage technologies, including solar PV fuel cells and all the emerging battery technologies. The Company's platform is based on breakthroughs in power conversion technology that enable its platform to convert high current/low voltage DC into high quality AC with conversion efficiencies that are materially higher than anything in the market.

Sustainable Energy's growth strategy is to partner strategically with companies that have the products and/or market position to leverage the benefits of the Company's technologies into superior product solutions.

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 our technology on solar PV and energy storage system performance and the use of proceeds from the financing. 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.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"Splunk basically takes machine data and we make it usable, valuable and accessible for everyone. The way that plays in DevOps is - we need to make data-driven decisions to delivering applications," explained Andi Mann, Chief Technology Advocate at Splunk and @DevOpsSummit Conference Chair, in this SYS-CON.tv interview at @DevOpsSummit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
The cloud market growth today is largely in public clouds. While there is a lot of spend in IT departments in virtualization, these aren’t yet translating into a true “cloud” experience within the enterprise. What is stopping the growth of the “private cloud” market? In his general session at 18th Cloud Expo, Nara Rajagopalan, CEO of Accelerite, explored the challenges in deploying, managing, and getting adoption for a private cloud within an enterprise. What are the key differences between wh...
"Logz.io is a log analytics platform. We offer the ELK stack, which is the most common log analytics platform in the world. We offer it as a cloud service," explained Tomer Levy, co-founder and CEO of Logz.io, in this SYS-CON.tv interview at DevOps Summit, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
In his session at @DevOpsSummit at 19th Cloud Expo, Robert Doyle, lead architect at eCube Systems, will examine the issues and need for an agile infrastructure and show the advantages of capturing developer knowledge in an exportable file for migration into production. He will introduce the use of NXTmonitor, a next-generation DevOps tool that captures application environments, dependencies and start/stop procedures in a portable configuration file with an easy-to-use GUI. In addition to captur...
"ReadyTalk is an audio and web video conferencing provider. We've really come to embrace WebRTC as the platform for our future of technology," explained Dan Cunningham, CTO of ReadyTalk, in this SYS-CON.tv interview at WebRTC Summit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Due of the rise of Hadoop, many enterprises are now deploying their first small clusters of 10 to 20 servers. At this small scale, the complexity of operating the cluster looks and feels like general data center servers. It is not until the clusters scale, as they inevitably do, when the pain caused by the exponential complexity becomes apparent. We've seen this problem occur time and time again. In his session at Big Data Expo, Greg Bruno, Vice President of Engineering and co-founder of StackIQ...
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of D...
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
IoT is at the core or many Digital Transformation initiatives with the goal of re-inventing a company's business model. We all agree that collecting relevant IoT data will result in massive amounts of data needing to be stored. However, with the rapid development of IoT devices and ongoing business model transformation, we are not able to predict the volume and growth of IoT data. And with the lack of IoT history, traditional methods of IT and infrastructure planning based on the past do not app...
The many IoT deployments around the world are busy integrating smart devices and sensors into their enterprise IT infrastructures. Yet all of this technology – and there are an amazing number of choices – is of no use without the software to gather, communicate, and analyze the new data flows. Without software, there is no IT. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, Dave McCarthy, Director of Products at Bsquare Corporation; Alan Williamson, Principal ...
DevOps and microservices are permeating software engineering teams broadly, whether these teams are in pure software shops but happen to run a business, such Uber and Airbnb, or in companies that rely heavily on software to run more traditional business, such as financial firms or high-end manufacturers. Microservices and DevOps have created software development and therefore business speed and agility benefits, but they have also created problems; specifically, they have created software securi...
WebRTC has had a real tough three or four years, and so have those working with it. Only a few short years ago, the development world were excited about WebRTC and proclaiming how awesome it was. You might have played with the technology a couple of years ago, only to find the extra infrastructure requirements were painful to implement and poorly documented. This probably left a bitter taste in your mouth, especially when things went wrong.
"There is a huge interest in Kubernetes. People are now starting to use Kubernetes and implement it," stated Sebastian Scheele, co-founder of Loodse, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.