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Company News:
Xantrex™ receives order valued at approximately US$16 million from Relatio
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VANCOUVER, B.C., April 9, 2008 – Xantrex Technology Inc. (TSX:XTX) announced today it has received an order valued at approximately US$16 million from relatio PV GmbH & Co.KG (Relatio). The order is for Xantrex’s three phase solar grid-tie inverters for several projects in Spain and Germany. The solar inverters will be installed in Relatio’s iBox, an innovative turn-key solution that integrates the inverter, transformer, and switch gear into a sturdy outdoor enclosure. The iBox enables easy installation at project sites, and quick connection to the solar panels and the utility grid. Delivery of the Xantrex GT100E and GT500E units is scheduled to take place in the second and third quarters of 2008.
"We are pleased to be partnered with Relatio to provide our European customers with easy to install commercial solar inverter systems," said Mossadiq S. Umedaly, Xantrex Chairman. "The size of the order is a reflection of Xantrex’s growing market share and its relationship with Relatio."
Gangolf Gindele, Head of Engineering & Project Management at Relatio PV, stated, "We selected the Xantrex inverter because it has proven to be the best product for our turn-key iBox solution and a perfect solution for solar market requirements in Europe."
The Xantrex GT100E and GT500E commercial grid-tie solar inverters efficiently convert direct current (DC) power from solar modules into high-quality alternating current (AC) electricity for delivery to the grid. Easy to install and operate, these commercial grid-tie inverters have automatic start up and shut down features with Maximum Power Point Tracking technology to optimize the energy harvested from the photovoltaic (PV) array. To maximize power conversion efficiency, the switching circuitry for these inverters uses insulated gate bi-polar transistors (IGBT). Multiple inverters can be paralleled for large power installations. These solar inverters meet all applicable CE requirements.
Xantrex CEO John Wallace stated, "The European solar market provides great growth opportunities for Xantrex and its partner Relatio."
Bernd Bodmer, Director of Relatio MD, added, "This order builds on our partnership with Xantrex and is the right strategy for both companies."
Xantrex solar inverters offer high quality, performance, efficiency, reliability, value, ease of installation, and high power density making them the preferred choice for an increasing number of projects around the world.
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, and mobile 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 Relatio relatio PV GmbH & Co. KG is a member of the relatio group of companies and focuses on the development and construction of core systems for renewable energy. Relatio’s iBox, an innovative turn-key solution, integrates inverters, switchgear and medium voltage transformers from leading manufacturers into a sturdy outdoor enclosure. Relatio’s extensive project experience and its quick project implementation has resulted in considerable market share of PV power plants over 1 MW in a short period.
Note that this news release may contain 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. Xantrex and smart choice for power are trademarks of Xantrex International, registered in the United States and other countries.
For further information, please contact: Investor Relations (604) 422-2601 investor.relations@xantrex.com
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