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Company News:
Xantrex leads home backup power market with low cost integrated system to harness renewable energy sources
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VANCOUVER, B.C., May 30, 2007 – Xantrex Technology Inc. (TSX:XTX) today launched the Xantrex PowerHub, a low cost, integrated backup power system for US homeowners, that uses renewable energy sources to provide clean, quiet, safe, indoor power.
Xantrex has leveraged 20 years of expertise developing advanced power electronics for the renewable energy and retail markets to create the PowerHub, a compact integrated unit consisting of an inverter, charger and battery box.
The Xantrex PowerHub collects, stores, and converts power from solar and wind inputs, the utility grid or a generator, providing backup power for homes during an electrical outage, or primary power for off-grid homes or cottages.
The Xantrex PowerHub’s charger ensures that batteries remain fully charged to provide reliable backup power. The inverter converts direct current (DC) stored in the batteries, into clean, reliable, alternating current (AC) to power applications including lighting, refrigerators, home alarms, microwaves, cordless phones, laptops and more.
The scalable design of the Xantrex PowerHub allows customers to build their system based on their own power requirements. Additional batteries can be added, along with a second battery box enclosure, to increase available power storage up to 400 amp-hours.
Xantrex has identified a strong market need for easy-to-use, affordable, power products with renewable energy elements. In addition to the PowerHub, Xantrex plans to develop its line of Personal Renewable Energy products this year, to meet the expectations of the growing Lifestyles of Health and Sustainability (LOHAS) market; a significant new consumer segment estimated at 50 million people and valued at approximately $US 229 billion. (Source: LOHAS website, www.lohas.com).
“Our unique expertise in developing renewable energy and backup power solutions has resulted in Xantrex leading the way with products that address the growing movement by consumers toward sustainable options”, said John Wallace, Xantrex CEO. “The Xantrex PowerHub enables consumers to reduce their environmental impact and stay in control of their own power supply.”
According to a recent survey commissioned by Xantrex and conducted by Harris Interactive®, 83% of all U.S. adults would install a backup power system that uses renewable energy sources for their home.
Qualitative research, commissioned by Xantrex and conducted by Healy/Wilcox Market Research, determined that primary motivators for consumers to pursue backup power include hurricane preparedness and the desire for alternatives that reduce dependence on state-supplied power from the utility grid. The Xantrex PowerHub with solar input was viewed as “highly superior” to a generator, due to its quiet, clean, safe, renewable operation.
The versatile system can function as an easy plug–and-play, 1440-watt backup power solution for the do-it-yourself homeowner, or it can be permanently hardwired in the home’s electrical system by a licensed electrician to utilize its full 1800-watt power capability to power additional appliances.
US Consumers: The Xantrex PowerHub is available at Northern Tool (www.northerntool.com) and Alta Power (www.altapower.com)
Canadian Consumers: The Xantrex PowerHub is available at Canadian Tire (www.canadiantire.ca)
MSRP for the Xantrex PowerHub is $899.99
For more information, please visit www.preparedwithpower.com/pre
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, programmable, mobile, and portable 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 and San Diego, California; Elkhart, Indiana; Barcelona, Spain; and Reading, England. Xantrex is listed on the Toronto Stock Exchange under the ticker symbol "XTX".
About the Harris Interactive® Survey for Xantrex: This survey was conducted online within the United States by Harris Interactive on behalf of Xantrex Technology Inc., between April 11 and April 13, 2007, among 2,373 adults (aged 18 and over). Figures for region, age within gender, education, household income and race/ethnicity were weighted where necessary to bring them into line with their actual proportions in the population. Propensity score weighting was also used to adjust for respondents’ propensity to be online.
With a pure probability sample of 2,373, one could say with a ninety-five percent probability that the overall results would have a sampling error of +/- 3 percentage points. Sampling error for data based on sub-samples may be higher and would vary. However, that does not take other sources of error into account. This online survey is not based on a probability sample and therefore no theoretical sampling error can be calculated.
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: Anna O’Neil Office : 650-762-2868 Mobile: 415-265-1568 aoneil@ar-edelman.com
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