AETI ISIS Selected by SEMV (Socios Energeticos de Mexico Verde) for Mexico Solar Project
HOUSTON, July 17, 2012 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (AETI) (Nasdaq:AETI) a leading supplier of power delivery solutions for the global energy industry, announced today that it has been selected by SEMV (Socios Energeticos de Mexico Verde) to supply its 1.0 megawatt (MW) Integrated Solar Inversion Station (ISIS) for a solar project in Mexico. Contract terms were not disclosed.
The 1.0 MW ISIS will enable SEMV to realize increased farm productivity by taking full advantage of 1000 Volt PV panels through its 1200 Volt UL1741 and IEEE 1547 witness-tested architecture. AETI's ISIS high-reliability features, such as liquid cooling and operation without derating for up to 50°C, allows SEMV to have the flexibility to work in Mexico's tough desert climates.
"We selected the ISIS solar inverter for our project requirements based on its high-performance capabilities and AETI's proven history of deploying reliable, megawatt-class power systems in harsh desert climates," said George Gonzalez, executive director, SEMV. "We look forward to working with AETI on our other future utility-scale solar projects as well."
AETI's ISIS unit is the world's first 1MW solar inverter witness-tested to UL1741 by a nationally recognized test lab (NRTL), TUV of North America. By integrating 1MW of liquid cooled power inverters with a 1MVA transformer and medium voltage switchgear, SEMV can reduce field installation costs while assuring a successful deployment.
"We are pleased to have been selected by SEMV for their important solar project," said Charles Dauber, president and CEO, AETI. "By working with international solar project developers like SEMV, we can enable the industry to reach its Levelized Cost of Electricity (LCOE) objectives and help solar power reach grid parity cost levels."
AETI expects to ship the system in the third quarter for installation in Fall 2012.
American Electric Technologies, Inc. is a leading provider of power delivery solutions to the global energy industry. AETI offers M&I Electric" power distribution and control products, electrical services, and E&I Construction services, as well as American Access Technologies zone enclosures, and Omega Metals custom fabrication services. South Coast Electric Systems L.L.C., a subsidiary, services Gulf Coast marine and vessel customers
AETI is headquartered in Houston and has global sales, support and manufacturing operations in Beaumont, Texas, Keystone Heights, Florida and Bay St. Louis, Mississippi. In addition, AETI has minority interests in three joint ventures in Xian, China, Singapore and Macae, Brazil. AETI's SEC filings, news and product/service information are available at www.aeti.com .
Forward Looking Statements
This press release contains forward-looking statements, as defined in Section 27A of the Securities Exchange Act of 1934, concerning anticipated future demand for our products, international expansion, and other future plans and objectives. While the Company believes that such forward-looking statements are based on reasonable assumptions, there can be no assurance that such future revenues, profits, plans and objectives will be achieved on the schedule or in the amounts indicated. Investors are cautioned that these forward-looking statements are not guarantees of future performance. Actual events or results may differ from the Company's expectations, and are subject to various risks and uncertainties, including those listed in Item 1A of the Form 10-K filed with the Securities and Exchange Commission on March 30, 2012. The Company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future events make it clear that any of the projected results expressed or implied herein will not be realized.
CONTACT: Media Contacts: Ward Creative Communications for American Electric Technologies, Inc. Molly LeCronier email@example.com 713-869-0707 Investor Contacts: American Electric Technologies, Inc. Frances Powell Hawes 713-644-8182 firstname.lastname@example.orgSource: American Electric Technologies, Inc. 2012 GlobeNewswire, Inc.