|By Marketwired .||
|January 29, 2013 08:30 AM EST||
CALGARY, ALBERTA -- (Marketwire) -- 01/29/13 -- Sustainable Energy Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the "Company") announced that it has filed its Consolidated Financial Statements for the Six Months ending March 31 2012 along with Management's Discussion and Analysis thereof. The Consolidated Financial Statements and the Management Discussion and Analysis thereof are available on SEDAR at www.sedar.com and on the Company's website at www.sustainableenergy.com
Sustainable Energy used 2012 to restructure its operating model to earn revenues through partnerships where its product forms part of a package or product distributed by OEM partners. The change is driven by management's judgment that that greater shareholder value will be created by focusing on well defined high growth market segments where the Company's technology enables unique product solutions which have the potential to take a material share of the segment.
tenKsolar: During 2012 the Company partnered with tenKsolar to create the industry's first fully modular structurally integrated solar PV package enabled by the Company's high efficiency parallel inverter. In Q1 Sustainable Energy entered into licensing and supply agreements with tenKsolar which will contribute a minimum of $5.4 million over the next 12 months with a possible $3 million at the end of the year if tenKsolar exercises its option to buy down Sustainable Energy's revenue sharing. Closing of the License Agreement originally scheduled for December 19, 2012 has been delayed at tenKsolar's request to allow documentation of a shareholder financing to be completed. TenKsolar has paid a $250,000 deposit to secure the License Agreement and closing is pending.
Solar Frontier: During 2012, the Company combined with Solar Frontier America to develop and demonstrate a structurally integrated bundle for Solar Frontier's high efficiency CIS thin film module for residential and small commercial rooftops and building facades. Sustainable Energy believes that the thin film "AC module" enabled by its inverter platform is the single best opportunity to bring high efficiency thin film to the rooftop and building facade market. Based in Japan, Solar Frontier is one of the top three thin film module manufacturers in the world with more than 1 GW of production capacity.
The AC module is only possible with Sustainable Energy's PARALEX inverter. With Japanese certification off the inverter expected later this Quarter (See Product Development) the strategy is to enable a global product offering and to make the PARALEX inverter the "go to" solution to use with all high efficiency thin film modules.
Energy Storage Inverter: During 2012, Sustainable Energy developed and began marketing a smart grid energy storage inverter for emerging German and Japanese residential and small commercial solar energy storage markets.
Low voltage inverters are at the core of lithium ion battery based energy management systems which will be distributed by utilities, major consumer products companies, and solar installers. Sustainable Energy's "AC battery" is the only high efficiency solution in the market and the only product designed from the bottom up to enable a lower cost OEM strategy critical to developers of the energy management systems.
Product Development: During Q4, 2012, the Company submitted their STX inverter platform for certification in North America and Japan. These certifications are on track and when completed Sustainable Energy will have the only low voltage inverter platforms certified for use in Japan, Germany, and North America. The STX platform is designed from the bottom up to enable a highly competitive OEM strategy
Outlook for 2013
"We believe that the potential for our energy storage inverter will be the single biggest contributor to shareholder value in 2013, commented Michael Carten CEO of Sustainable Energy Technologies. "Grid tied energy storage for residential, and small commercial applications, is a market that is about to break open in Germany and Japan driven by escalating grid prices and falling solar electricity costs. Using Photon International demand forecasts we estimate the value of the market in Germany Japan and the US at more than $6.5B over the next four years "
"In Germany we are already in discussions with the companies which we believe will be the market leaders with a view to embedding our platform in their product design. We are optimistic that we will meet our goal to secure OEM partnerships with companies representing a market share of better than 30%
We believe that success in Germany will lead to success in Japan which is lagging Germany in product development and will position Sustainable Energy's energy storage platform as a market leader.
Product sales revenues from solar in 2013 will be based on expanding the partnerships with Solar Frontier and EECOL that were put in place during Q1 2013. Our goal is to build out the Solar Frontier model in Japan as soon as the STX platform is certified and to partner locally to build a "made in Japan" inverter for this and other applications. We believe that we are able to build out the EECOL model in Canada and extend that model to the US market.
Financial Highlights for the Year Ending September 30, 2012
Net loss and comprehensive Loss: The Net Loss for the year was $5,318,365 compared to $6,692,891 in 2011, a decrease of $1,374,526 (20.5%). Adjusting for non-cash items the Net Loss was reduced by $2,430,655 to $3,031,487 (44.5%) compared to $5,462,142 in 2011.
Cash Flow Used in Operations Cash flow used in operations was reduced 76% to $1,601,842 compared to $6,713,772 in 2011.
Sales Revenues Sales for the year ended September 30, 2012 were $3,313,134 compared to $3,867,910 for the year in 2011 a decrease of 14%. The reduction was attributable almost entirely to the moratorium on new solar projects imposed by the Ontario government immediately following its re-election on October 6 2011 and reduced sales to tenKsolar.
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.
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 system performance; the impact for low voltage energy storage systems; our competitive position for energy storage applications; and the potential for long term revenues.
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.
Enterprise IT has been in the era of Hybrid Cloud for some time now. But it seems most conversations about Hybrid are focused on integrating AWS, Microsoft Azure, or Google ECM into existing on-premises systems. Where is all the Private Cloud? What do technology providers need to do to make their offerings more compelling? How should enterprise IT executives and buyers define their focus, needs, and roadmap, and communicate that clearly to the providers?
Oct. 26, 2016 05:45 AM EDT Reads: 2,548
SYS-CON Events announced today that Streamlyzer will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Streamlyzer is a powerful analytics for video streaming service that enables video streaming providers to monitor and analyze QoE (Quality-of-Experience) from end-user devices in real time.
Oct. 26, 2016 05:30 AM EDT Reads: 1,034
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Oct. 26, 2016 05:30 AM EDT Reads: 1,011
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his general session at @DevOpsSummit at 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will discuss how customers are able to achieve a level of transparency that e...
Oct. 26, 2016 05:00 AM EDT Reads: 991
SYS-CON Events announced today that Pulzze Systems will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Pulzze Systems, Inc. provides infrastructure products for the Internet of Things to enable any connected device and system to carry out matched operations without programming. For more information, visit http://www.pulzzesystems.com.
Oct. 26, 2016 05:00 AM EDT Reads: 2,567
Today every business relies on software to drive the innovation necessary for a competitive edge in the Application Economy. This is why collaboration between development and operations, or DevOps, has become IT’s number one priority. Whether you are in Dev or Ops, understanding how to implement a DevOps strategy can deliver faster development cycles, improved software quality, reduced deployment times and overall better experiences for your customers.
Oct. 26, 2016 04:45 AM EDT Reads: 944
One of biggest questions about Big Data is “How do we harness all that information for business use quickly and effectively?” Geographic Information Systems (GIS) or spatial technology is about more than making maps, but adding critical context and meaning to data of all types, coming from all different channels – even sensors. In his session at @ThingsExpo, William (Bill) Meehan, director of utility solutions for Esri, will take a closer look at the current state of spatial technology and ar...
Oct. 26, 2016 04:30 AM EDT Reads: 1,759
Cloud based infrastructure deployment is becoming more and more appealing to customers, from Fortune 500 companies to SMEs due to its pay-as-you-go model. Enterprise storage vendors are able to reach out to these customers by integrating in cloud based deployments; this needs adaptability and interoperability of the products confirming to cloud standards such as OpenStack, CloudStack, or Azure. As compared to off the shelf commodity storage, enterprise storages by its reliability, high-availabil...
Oct. 26, 2016 04:30 AM EDT Reads: 1,193
The IoT industry is now at a crossroads, between the fast-paced innovation of technologies and the pending mass adoption by global enterprises. The complexity of combining rapidly evolving technologies and the need to establish practices for market acceleration pose a strong challenge to global enterprises as well as IoT vendors. In his session at @ThingsExpo, Clark Smith, senior product manager for Numerex, will discuss how Numerex, as an experienced, established IoT provider, has embraced a ...
Oct. 26, 2016 04:15 AM EDT Reads: 1,163
In past @ThingsExpo presentations, Joseph di Paolantonio has explored how various Internet of Things (IoT) and data management and analytics (DMA) solution spaces will come together as sensor analytics ecosystems. This year, in his session at @ThingsExpo, Joseph di Paolantonio from DataArchon, will be adding the numerous Transportation areas, from autonomous vehicles to “Uber for containers.” While IoT data in any one area of Transportation will have a huge impact in that area, combining sensor...
Oct. 26, 2016 03:45 AM EDT Reads: 1,020
Without lifecycle traceability and visibility across the tool chain, stakeholders from Planning-to-Ops have limited insight and answers to who, what, when, why and how across the DevOps lifecycle. This impacts the ability to deliver high quality software at the needed velocity to drive positive business outcomes. In his session at @DevOpsSummit 19th Cloud Expo, Eric Robertson, General Manager at CollabNet, will show how customers are able to achieve a level of transparency that enables everyon...
Oct. 26, 2016 03:45 AM EDT Reads: 1,330
In the next forty months – just over three years – businesses will undergo extraordinary changes. The exponential growth of digitization and machine learning will see a step function change in how businesses create value, satisfy customers, and outperform their competition. In the next forty months companies will take the actions that will see them get to the next level of the game called Capitalism. Or they won’t – game over. The winners of today and tomorrow think differently, follow different...
Oct. 26, 2016 02:30 AM EDT Reads: 1,064
@DevOpsSummit has been named the ‘Top DevOps Influencer' by iTrend. iTrend processes millions of conversations, tweets, interactions, news articles, press releases, blog posts - and extract meaning form them and analyzes mobile and desktop software platforms used to communicate, various metadata (such as geo location), and automation tools. In overall placement, @DevOpsSummit ranked as the number one ‘DevOps Influencer' followed by @CloudExpo at third, and @MicroservicesE at 24th.
Oct. 26, 2016 02:30 AM EDT Reads: 4,091
“Media Sponsor” of SYS-CON's 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. CloudBerry Backup is a leading cross-platform cloud backup and disaster recovery solution integrated with major public cloud services, such as Amazon Web Services, Microsoft Azure and Google Cloud Platform.
Oct. 26, 2016 02:30 AM EDT Reads: 1,471
The Internet of Things (IoT), in all its myriad manifestations, has great potential. Much of that potential comes from the evolving data management and analytic (DMA) technologies and processes that allow us to gain insight from all of the IoT data that can be generated and gathered. This potential may never be met as those data sets are tied to specific industry verticals and single markets, with no clear way to use IoT data and sensor analytics to fulfill the hype being given the IoT today.
Oct. 26, 2016 01:45 AM EDT Reads: 2,766