Xantrex announces orders for solar inverters valued at US$8.2 million
Vancouver, B.C., May 31, 2007
Source: Xantrex Technology Inc /Press release
http://www.xantrex.com/web/did/1694/readnews.asp
Xantrex Technology Inc. (TSX:XTX) announced today it has received additional orders from an existing major OEM customer, valued at approximately US$4.4 million, to supply solar grid-tie inverters for the North American solar market. This brings the orders received in 2007, from this customer, to a total of $8.2 million which are expected to be delivered by the end of the third quarter of 2007.
“We continue to expand our market share for inverters and penetrate the rapidly growing solar market,” said Mossadiq S. Umedaly, Chairman of Xantrex. “There is strong interest in our solar inverters and we are confident in our ability to supply and service our customers with high quality products, worldwide.”
These Xantrex inverters are customized for and marketed under the OEM brand. They are based on the successful Xantrex GT Series of residential solar grid-tie inverters that efficiently and reliably convert direct current (DC) power from solar panels into clean, alternating current (AC) power for sale to the electricity grid.
Xantrex CEO John Wallace added, “We are very pleased with our OEM partnership and are committed to working with them to yield positive results for both our companies, and for our solar customers.”