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Company News:
Xantrex receives US $1 million order for solar inverters in Germany
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VANCOUVER, B.C., August 24, 2006 – Xantrex Technology Inc. (TSX:XTX) is pleased to announce that it has received an order to supply approximately US $1 million of its 500 kilowatt (kW) solar grid tie (GT500E) commercial inverters through Relatio Innovative Concepts (Relatio) for three projects in Germany. These solar projects will be implemented before the end of this year.
"We are delighted that Xantrex commercial solar inverters were chosen and the order placed through our sales and marketing partner Relatio for these significant projects in Germany," said Mossadiq Umedaly, Xantrex Chairman. He added, "We are growing our share of the European solar market."
Solar power is an attractive investment in Germany largely due to positive government policy and incentives. The GT500E commercial solar inverter is a 500 kW three-phase advanced power electronics system for grid-connected solar arrays. The inverter, Xantrex’s largest, efficiently converts 500 kilowatts of direct current (DC) electricity from solar panels into high quality alternating current (AC) electricity for sale to the utility grid. Xantrex grid tie inverters offer excellent value, performance, reliability, ease of installation, and high power density, making them a great solution for solar system installers and owners. Designed for European solar installations, the GT500E meets all applicable CE requirements.
Xantrex CEO John Wallace adds, "We continue to demonstrate our success in the European solar market as a result of the quality, reliability, and value of our products. The opportunities in the European solar market are exciting. Our goal is to have Xantrex products be the first choice for renewable energy customers in Europe."
About Xantrex Xantrex Technology Inc. (www.xantrex.com) is a world leader in the development, manufacturing and marketing of advanced power electronic products and systems for the renewable, portable, mobile, and programmable power markets. The company’s products convert and control raw electrical power from any central, distributed, or backup power source into high-quality power required by electronic and electrical equipment. Headquartered in Vancouver, British Columbia, the company has facilities in Arlington, Washington; Livermore, California; Elkhart, Indiana; Barcelona, Spain; and Reading, England. Xantrex is publicly listed on the Toronto Stock Exchange under the ticker symbol "XTX".
Note that this news release contains forward-looking statements related to Xantrex Technology Inc. Such statements reflect the current views of Xantrex with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in these forward-looking statements.
For further information, please contact Donna Clark Phone: 604-422-2601 Email: donna.clark@xantrex.com Web: www.xantrex.com
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