Xantrex Technology Inc. PV Series commercial grid tie solar inverters reached an important milestone in May 2006, surpassing 100 megawatts of installations in the U.S. solar market. Xantrex has the largest installed base, and is the leader for three phase commercial solar inverters in North America.
LIVERMORE, CA, June 5, 2006 ó Xantrex Technology Inc. (TSX:XTX) PV Series commercial grid tie solar inverters reached an important milestone in May 2006, surpassing 100 megawatts (MW) of installations in the U.S. solar market. Xantrex has the largest installed base, and is the leader for three phase commercial solar inverters in North America.
After shipping the first UL listed PV Series solar inverter in 1999, Xantrex has experienced remarkable growth. More than 30 MW of inverters were installed just in the past year, bringing the installed capacity in the field to over 100 MW consisting of more than 1600 PV Series inverters.
"Our numbers speak for themselves," said Xantrex CEO John Wallace. "Xantrex inverters are field proven, efficient and reliable, offering system integrators and owners an excellent return on their solar power investment. While our products represent over 70% of the market, we are not resting on our laurels. We are investing in new product development and plan to launch our next generation products in 2007. We have five highly trained field service technicians backed by additional in-house resources to service our expanding installed base. Xantrex is and expects to continue to be the leader in the U.S. market. We will do this by delivering outstanding products, reducing installed cost, and providing industry leading after-sale support."
While many companies talk about theoretical reliability data, Xantrex can offer real world examples of excellent inverter up-time. One demonstration of this is the installation of 5.1 megawatts of PV Series inverters at the Springerville Generating Station Solar System (SGSSS) in northeastern Arizona. The site is operated by Tucson Electric Power and includes 34 Xantrex PV 150 kW inverters. The SGSSS is one of the most productive solar systems in the world, generating enough electricity to power 750 homes annually. Tucson Electric Power reports the PV Series reliability at this location is greater than 99% after three years of operation in harsh desert conditions.
Tom Hansen, Vice President and Technical Advisor to the CEO of Tucson Electric Power said, "The reliability and operational flexibility of the Xantrex PV Series inverter has been critical in optimizing the reliability and performance of this large solar system. We need reliable generation equipment when operating a system of this magnitude, and Xantrex helps us deliver on our renewable energy commitments."
With more than 100 MW shipped since the PV Series product launch in 1999, Xantrex continues to be the proven market leader in three phase commercial solar inverters in North America.
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".
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:
Cathy Gibson Epp