WATERLOO, ON, Nov. 5 /CNW/ - ARISE Technologies Corporation (TSX-V: APV)
(ADAX: A3T) is pleased to announce that it has entered into additional
non-binding Letters Of Intent to provide complete solar park PV Systems.
Including its announcement of September 4, 2007, if all projects
envisioned by current letters of intent are completed, ARISE will be
installing a total of 44MW of solar park PV systems over the next two to three
years in six different projects. Completion of each proposed solar park is
dependent on a number of conditions, including obtaining necessary zoning
approvals and negotiating power supply contracts with the Ontario Power
The Company has also identified a number of further potential PV System
projects and, as previously announced, has set a strategic goal to install
100MW of PV generating capacity in Ontario by 2010. This target represents
about 40% of the Company's projected output from its German PV cell
manufacturing plant over the same period.
Ian MacLellan, President and CEO stated, "The growing interest in the
Ontario market is a result of the Ontario Renewable Energy Standard Offer
Program introduced in 2006. We are continuing to see an increasing demand in
solar park projects and both commercial and residential installations. We are
pleased to be involved in key projects in Ontario and to be viewed as a leader
in the renewable energy sector in Canada."
ARISE Technologies is dedicated to accelerating the use of solar energy
in mainstream North American markets. The Company's shares are listed on the
TSX Venture Exchange under the symbol APV and on the Frankfurt Open Market
Exchange under the symbol A3T. Additional information is available at
www.arisetech.com and www.sedar.com. Certain statements contained in this
press release may be considered as forward-looking. Such forward-looking
statements are subject to risks and uncertainties that could cause actual
results to differ materially from estimated or implied results.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release.
For further information:
For further information: ARISE Technologies Corporation, 65 Northland
Road, Waterloo, Ontario, Canada, N2V 1Y8, Tel. (519) 725-2244, Fax: (519)
725-8907, www.arisetech.com; Ian MacLellan, President & CEO, (519) 725-2244
Ext. 5707, firstname.lastname@example.org; TSX Venture Exchange Symbol: APV