Xantrex Goes 100% Green

Company's Purchase of 'Green Tags' Contributes to Solving the Region's

Long-Term Energy and Environmental Challenges



Apr 04, 2001, 01:00 ET from Xantrex Technology Inc.

    ARLINGTON, Wash., April 4 /PRNewswire/ -- Xantrex Technology Inc.,
 announces the purchase of Green Tags for renewable energy from the Bonneville
 Environmental Foundation (BEF) in an amount equal to 100 percent of the
 electricity consumed at the company's Arlington, WA site.
     Snohomish Public Utility is partnering with Xantrex to secure Green Tags
 for the Arlington plant.  This 90,000 square foot facility employs over
 350 people and manufactures Trace and Heart brand power electronics used in
 renewable, backup and mobile energy applications.  In the year 2000,
 electrical consumption at this site was about 1 million kilowatt-hours (kWh).
     "Participation in the Green Tags program demonstrates Xantrex's commitment
 to renewable power, supports our business partners and contributes to solving
 the region's long-term energy and environmental challenges.  We are proud to
 do our part," said Ron Pitt, Xantrex's Vice President and General Manager for
 the Distributed Residential and Commercial Markets.
     The BEF Green Tags program supports the development of wind, solar and
 other renewable energy projects with the electricity generated at these sites
 being sold into the regional grid at market prices.  Xantrex pays a premium to
 BEF entitling the company to the environmental credits for using clean power.
     According to Pitt, "Restructuring of electricity markets, reliability
 issues, and concern for the environment are creating new market opportunities
 for merchant green power that's absorbed into the grid as well as for
 independent off grid applications."
     Initially, Xantrex pursued several avenues to purchase renewable power,
 ultimately choosing the BEF Green Tags approach.  BEF reinvests money from the
 Green Tags premium into expanding the market share of renewable power
 throughout the Pacific Northwest.
     "The BEF approach mirrors our own interest in increasing the use of solar,
 wind and other renewable energy sources while demonstrating the Xantrex
 commitment to a healthier environment and sustainable business practices,"
 said Pitt.
 
     Background
     Xantrex Technology Inc, a private company, is a world-leading developer
 and manufacturer of advanced power electronics and controls with products from
 50 watts to 1 megawatt.  The company holds leading positions in Test &
 Measurement, Consumer, Mobile, Backup, and Distributed Residential and
 Industrial markets.
     Xantrex's power electronics products convert raw electrical power from an
 energy source to high quality usable electrical power that meets user needs.
 The company's advances in power electronics are resulting in smaller, lighter,
 smarter, highly efficient and reliable systems that are a key enabling
 technology for its existing markets as well as for emerging markets in wind,
 solar, advanced batteries, fuel cells, flywheels, microturbines and back up
 power.
     With 115 million in revenue, the company has extensive experience in
 multiple applications and markets, with rapid product development and
 commercialization processes.  Its world class manufacturing capability and
 customer support provide customers with the most comprehensive and
 cost-effective power electronics solutions and services.
     The company's products are sold under the Trace, Statpower, Heart, and
 Xantrex brands to diversified customers that include industry leaders such as
 Applied Materials, Astropower, Ballard Power Systems, BP Solar, Cisco, Compaq,
 Enron, Fleetwood, Kyocera, Monaco, Plug Power, Schlumberger, Siemens,
 Sun Microsystems, Xcellsis and channel partners such as Canadian Tire, Costco,
 Sam's Club, TestEquity, US Marine and West Marine.
 
     Mossadiq S. Umedaly (Chairman and Chief Executive Officer)
     Mossadiq S. Umedaly is the Chairman and Chief Executive Officer of Xantrex
 Technology Inc.  Since joining Xantrex in 1999, he has repositioned and
 transformed the company from a small niche player to a world leader in
 advanced power electronics with a focused business strategy targeted at high
 growth markets.  Prior to joining Xantrex, he was the Vice President and Chief
 Financial Officer of Ballard Power Systems, the world leading fuel cell
 company, from 1990 to 1998 where he played an instrumental role in developing,
 financing and positioning the company for commercialization, as well as
 securing key strategic relationships.  Before joining Ballard, from 1980 to
 1988, Mr. Umedaly held senior positions in the Aga Khan Development Network
 and played a key role in developing and operating a US$300 million medical
 university and teaching hospital in Karachi.  Mr. Umedaly started his career
 in 1975 with Price Waterhouse and spent five years in their Toronto and Rome
 offices.  He has an MBA from McMaster University and is a Canadian Chartered
 Accountant.  He serves on the Advisory Boards of the Faculties of Business of
 Simon Fraser University (British Columbia) and McMaster University (Ontario).
 He is a contributor and advisor to several philanthropic projects in Canada
 and developing countries.
 
 

SOURCE Xantrex Technology Inc.
    ARLINGTON, Wash., April 4 /PRNewswire/ -- Xantrex Technology Inc.,
 announces the purchase of Green Tags for renewable energy from the Bonneville
 Environmental Foundation (BEF) in an amount equal to 100 percent of the
 electricity consumed at the company's Arlington, WA site.
     Snohomish Public Utility is partnering with Xantrex to secure Green Tags
 for the Arlington plant.  This 90,000 square foot facility employs over
 350 people and manufactures Trace and Heart brand power electronics used in
 renewable, backup and mobile energy applications.  In the year 2000,
 electrical consumption at this site was about 1 million kilowatt-hours (kWh).
     "Participation in the Green Tags program demonstrates Xantrex's commitment
 to renewable power, supports our business partners and contributes to solving
 the region's long-term energy and environmental challenges.  We are proud to
 do our part," said Ron Pitt, Xantrex's Vice President and General Manager for
 the Distributed Residential and Commercial Markets.
     The BEF Green Tags program supports the development of wind, solar and
 other renewable energy projects with the electricity generated at these sites
 being sold into the regional grid at market prices.  Xantrex pays a premium to
 BEF entitling the company to the environmental credits for using clean power.
     According to Pitt, "Restructuring of electricity markets, reliability
 issues, and concern for the environment are creating new market opportunities
 for merchant green power that's absorbed into the grid as well as for
 independent off grid applications."
     Initially, Xantrex pursued several avenues to purchase renewable power,
 ultimately choosing the BEF Green Tags approach.  BEF reinvests money from the
 Green Tags premium into expanding the market share of renewable power
 throughout the Pacific Northwest.
     "The BEF approach mirrors our own interest in increasing the use of solar,
 wind and other renewable energy sources while demonstrating the Xantrex
 commitment to a healthier environment and sustainable business practices,"
 said Pitt.
 
     Background
     Xantrex Technology Inc, a private company, is a world-leading developer
 and manufacturer of advanced power electronics and controls with products from
 50 watts to 1 megawatt.  The company holds leading positions in Test &
 Measurement, Consumer, Mobile, Backup, and Distributed Residential and
 Industrial markets.
     Xantrex's power electronics products convert raw electrical power from an
 energy source to high quality usable electrical power that meets user needs.
 The company's advances in power electronics are resulting in smaller, lighter,
 smarter, highly efficient and reliable systems that are a key enabling
 technology for its existing markets as well as for emerging markets in wind,
 solar, advanced batteries, fuel cells, flywheels, microturbines and back up
 power.
     With 115 million in revenue, the company has extensive experience in
 multiple applications and markets, with rapid product development and
 commercialization processes.  Its world class manufacturing capability and
 customer support provide customers with the most comprehensive and
 cost-effective power electronics solutions and services.
     The company's products are sold under the Trace, Statpower, Heart, and
 Xantrex brands to diversified customers that include industry leaders such as
 Applied Materials, Astropower, Ballard Power Systems, BP Solar, Cisco, Compaq,
 Enron, Fleetwood, Kyocera, Monaco, Plug Power, Schlumberger, Siemens,
 Sun Microsystems, Xcellsis and channel partners such as Canadian Tire, Costco,
 Sam's Club, TestEquity, US Marine and West Marine.
 
     Mossadiq S. Umedaly (Chairman and Chief Executive Officer)
     Mossadiq S. Umedaly is the Chairman and Chief Executive Officer of Xantrex
 Technology Inc.  Since joining Xantrex in 1999, he has repositioned and
 transformed the company from a small niche player to a world leader in
 advanced power electronics with a focused business strategy targeted at high
 growth markets.  Prior to joining Xantrex, he was the Vice President and Chief
 Financial Officer of Ballard Power Systems, the world leading fuel cell
 company, from 1990 to 1998 where he played an instrumental role in developing,
 financing and positioning the company for commercialization, as well as
 securing key strategic relationships.  Before joining Ballard, from 1980 to
 1988, Mr. Umedaly held senior positions in the Aga Khan Development Network
 and played a key role in developing and operating a US$300 million medical
 university and teaching hospital in Karachi.  Mr. Umedaly started his career
 in 1975 with Price Waterhouse and spent five years in their Toronto and Rome
 offices.  He has an MBA from McMaster University and is a Canadian Chartered
 Accountant.  He serves on the Advisory Boards of the Faculties of Business of
 Simon Fraser University (British Columbia) and McMaster University (Ontario).
 He is a contributor and advisor to several philanthropic projects in Canada
 and developing countries.
 
 SOURCE  Xantrex Technology Inc.