Sustainable Energy Confirms Closing of $500,000 Investment by Doughty Hanson
CALGARY, ALBERTA -- (Marketwire) -- 03/25/13 -- Sustainable Energy
Technologies Ltd (TSX VENTURE:STG) ("Sustainable Energy" or the
"Company") confirms that it has completed the previously announced
(News Release: March 15, 2013) private placement of Convertible
Debentures and Common Share Purchase Warrants to Doughty Hanson
Technology Ventures ("DHTV") for gross proceeds of $500,000.
The Convertible Debenture is unsecured, bears interest at 8% per
annum, and is convertible into 50,000, $10, 8% First Preferred Shares
("Preferred Shares") of Sustainable Energy. The Preferred Shares are
themselves convertible into common shares of the Company at a price
of $0.105 per share. The term of the Debenture is for a period of 6
months enabling the Company to secure longer term financing for its
business. DHTV also acquired a pre-emptive right to participate in up
to $1 million of such a financing alongside outside investors and
management, including the option of tendering the Convertible
Debenture as payment.
The Company also issued detachable common share purchase warrants to
acquire up to 4,750,000 common shares of the Company at an exercise
price of $0.105. This financing remains subject to TSX Venture
About Sustainable Energy:
Sustainable Energy (www.SustainableEnergy.com) designs and
manufactures intelligent power inverters for a wide arrange of
distributed generation and storage technologies. The inverters
incorporate patented breakthrough technologies which enable the
highest efficiency conversion of low voltage direct current inputs in
A single standard low cost electronics platform supports (i) the
solar industry's only industry standard inverter enabling the higher
yields and installation flexibility; the solar industry's only
industry standard inverter enabling the safety of extra low operating
voltages and (iii) the industry's highest bi-directional power
conversion efficiencies for grid tied energy storage and fuel cells.
Approximately 20MW of 1st and 2nd generation PARALEX inverters have
been installed in 7 different countries.
Forward Looking Information
The reader is advised that some of the information herein may
constitute forward-looking statements within the meaning assigned by
National Instruments 51-102 and other relevant securities
legislation. In particular, it includes: statements concerning
proposed financings, the market for energy storage in Europe and
elsewhere; and statements concerning its expectations of unit sales
over the next 30 months and While management believes these
statements to be accurate they are dependent on a wide range of
factors beyond management's control and should not be viewed as a
guarantee of the specific outcome. Forward-looking information is not
a guarantee of future performance and involves a number of risks and
Many factors could cause the Companies' actual results, performance
or achievements, or future events or developments, to differ
materially from those expressed or implied by the forward-looking
information. Readers are cautioned not to place undue reliance on
forward-looking information, which speaks only as of the date hereof.
The Companies do not undertake any obligation to release publicly any
revisions to forward- looking information contained herein to reflect
events or circumstances that occur after the date hereof or to
reflect the occurrence of unanticipated events, except as may be
required under applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
Sustainable Energy Technologies Ltd
Chief Executive Officer
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