CALGARY, Alberta - Sustainable Energy Technologies Ltd. today announced that it has agreed to license its advanced power electronics technologies to RWE Piller GmbH ("RWE Piller") (www.rwepiller.com) for fuel cell applications. The license, which may not be assigned or sublicensed outside the RWE corporate group of companies, is exclusive for applications using the Nuvera fuel cell system, and is otherwise non-exclusive. In exchange, RWE Piller will pay a license fee of $790,000 upon completion of factory acceptance testing, as well as ongoing royalties based on the kW rating of power electronics products incorporating Sustainable Energy’s technologies.

Based in Germany, RWE Piller is a subsidiary of RWE Solutions AG (www.rwesolutions.com), one of the RWE (www.rwe.com) corporate group of companies. With approximately 800 employees, RWE Piller is represented in more than 20 countries around the world.

RWE Piller has been funding Sustainable Energy’s non-recurring engineering costs, as well as providing "in kind" technical and engineering support to complete the development of its power inverter for several months. Under the agreement, the license will also include all new intellectual property developed by the Corporation during continued funding of non-recurring engineering by RWE Piller. Sustainable Energy has several patents pending and continues to file for new patents with the US Patent Office.

"Our relationship with RWE Piller, which is one of the world’s leading power supply manufacturers, is an important validation of the potential of our technology," says Michael Carten, President and CEO of Sustainable Energy. "Also, the value of RWE Piller’s "in kind" technical and engineering support in accelerating the product development process is incalculable," says Mr. Carten.

The Corporation intends to deliver several prototypes to RWE Piller later this month, and to manufacture a further 25 inverters for delivery later this year. The same platform will be used for product offerings by Sustainable Energy to the grid-connected and off-grid solar photovoltaic power markets.

Based in Calgary, Alberta, Sustainable Energy is a developer of advanced power electronics products for distributed generation and renewable energy applications. Sustainable Energy’s patented power inverter technology combines one of the highest average conversion efficiencies in the industry (in excess of 93% through full load) with real time wave shaping controls for grid interactive operations. This unique approach to power conversion also enables the inverter to reduce the cost and complexity of grid interactive alternative energy systems by providing functionality that typically requires several additional components.

Sustainable Energy is listed on the TSX Venture Exchange under the symbol "STG"

Certain statements contained in this press release may be considered as forward-looking. Such forwardlooking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.

Sustainable Energy Technologies, Ltd.

Sustainable Energy Technologies, Ltd.

More from Sustainable Energy Technologies, Ltd.