HOUSTON, Dec. 3, 2012 (GLOBE NEWSWIRE) -- American Electric Technologies, Inc. (Nasdaq:AETI) a leading global provider of power delivery solutions for the energy industry, announced today that it supplied Siemens Industry, Inc. with a 1.0 megawatt (MW) Integrated Solar Inversion Station (ISIS) as part of a Power Purchase Agreement (PPA) with the City of Atwater, CA. The Siemens-owned and -operated 20-year solar project, which powered up in October, 2012, is projected to save the city more than $1 million in energy costs. Contract terms were not disclosed.
The 1.0 MW ISIS, along with bundled installation and commissioning services, provided Siemens with a fully integrated product and service offering to help meet their project timelines. With AETI's capabilities, Siemens will enable the City of Atwater to reduce costs and meet increased energy demands associated with their new wastewater treatment plant adjacent to the solar project site. The complete solar system will generate 2,221,738 kWh of clean renewable energy annually, and realize significant greenhouse gas emissions savings.
AETI's ISIS platform is the world's first 1000V 1MW solar inverter witness-tested to UL1741 by a nationally recognized test lab (NRTL), TUV of North America. The ISIS system deployed at the Atwater site incorporates an integrated DC master re-combiner, control power transformer, and grid-tie transformer, and was installed by an AETI services team with over 2GW of grid-tie projects to date.
"We are pleased to have been selected by Siemens for their solar project in Atwater, California," said Kent Breaux, global director of renewables, AETI. "Partnering with a reputable solar project developer like Siemens allowed us to deliver the customer a superior level of quality service while helping them reduce high energy costs and meet renewable energy goals."
American Electric Technologies, Inc. (Nasdaq:AETI) is a leading global provider of power delivery solutions to the 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.
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