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Company News:
Xantrex receives US$1.7 million solar inverter order from SunEdison
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VANCOUVER, BC, December 20, 2006 – Xantrex Technology Inc. (TSX:XTX) announced it has received a US$1.7 million purchase order for Xantrex grid-tie commercial solar inverters from SunEdison, LLC, one of the largest solar energy service providers in North America. Initial shipments will begin during the first quarter of 2007.
"We are delighted to work with SunEdison," said Xantrex Chairman, Mossadiq S. Umedaly. "SunEdison is an important new customer for us with its strong reputation as the leading solar energy services provider. Xantrex is the North American market leader in commercial solar inverters."
This is a significant contract win for Xantrex, and is the result of meeting the strict standards required by SunEdison of its vendors.
Brian Jacolick, SunEdison vice president of sales and procurement, said "We chose Xantrex after a comprehensive assessment of its product and we are confident in their commitment to deliver high quality, reliable, and efficient inverters for our growing customer base. We are pleased to have them as an approved vendor."
Xantrex’s CEO John Wallace adds, "We will build on this partnership with SunEdison and see tremendous opportunity in working with this innovative solar provider. We look forward to supplying the most efficient, reliable and cost effective inverters in the industry to meet the needs of our diverse customer base."
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, renewable, 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".
About SunEdison SunEdison, LLC, is North America’s leading solar energy service provider. SunEdison provides solar-generated energy at or below current retail utility rates to a broad and diverse client base of commercial, municipal and utility customers. For more information about SunEdison, please visit www.sunedison.com. The company headquarters are located in Baltimore, Maryland.
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 604-422-2601 donna.clark@xantrex.com
For SunEdison, LLC: Rob Wyse 212-920-1470 rob@mediafirstpr.com
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