Xantrex Technology Inc. has been awarded US $873,000 from the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) under its Photovoltaics Manufacturing Research and Development Initiative.
LIVERMORE, CA, November 21, 2005 - Xantrex Technology Inc. (TSX:XTX) has been awarded US $873,000 from the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) under its Photovoltaics Manufacturing Research and Development Initiative. Xantrex will match the funding from NREL during the course of the project for a total budget of $1.74 Million. This program will take place at the Xantrex facility in Livermore, California.
The NREL project is titled "Advanced, High-Reliability, System-Integrated 500 kW Photovoltaic (PV) Inverter Development." This significant funding will be used to develop Xantrex's next generation state-of-the-art optimized technology that will result in a new product line of commercial and industrial scale photovoltaic inverters.
"The recognition from NREL through this award is an honor because it acknowledges the important work we are doing in this area," said Mossadiq Umedaly, Chairman of Xantrex.
"This will have a significant positive impact on Xantrex because with this U.S. Department of Energy support we can increase our investment in the development of the next generation commercial and industrial photovoltaic inverter products."
Xantrex PV inverters are America's leading choice for large-scale solar installations. Presently, utility-interactive, three-phase inverters are available in models ranging from 10 kW to 225 kW, and multiple inverters can be paralleled for larger power installations.
Xantrex anticipates the new product advancements made as a result of this funding will provide higher reliability, increased efficiency, greater communication capabilities, and reduced system cost for owners and installers through greater integration.
NREL is the U.S. Department of Energy's primary national laboratory for renewable energy and energy-efficiency research and development. Midwest Research Institute and Battelle operate NREL for DOE.
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 distributed, mobile and programmable power markets. The company's products convert raw electrical power from any central, distributed, or backup power source into high-quality power required by electronic and electrical equipment.
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: firstname.lastname@example.org