WATERLOO, ON, Oct. 15 /CNW/ - ARISE Technologies Corporation (TSX-V: APV)
is pleased to announce it has signed a contribution agreement with Sustainable
Development Technology Canada (SDTC) for its Silicon Feedstock Pilot Plant
project. SDTC is funding approximately 1/3 of eligible project costs up to a
total of $6,439,037 payable upon successful completion of project milestones.
ARISE has received an initial installment of $587,189.50 in accordance with
the terms of the agreement.
SDTC's contribution has been leveraged by a $13.2 million funding
commitment from a consortium led by ARISE Technologies Corporation. The
Company is working with Ebner Gesellschaft M.B.H., the University of Toronto,
the University of Waterloo, and Topsil Semiconductor Materials A/S to develop
a new approach for refining high purity solar grade silicon.
"SDTC support for the project will allow ARISE to more rapidly scale up
our proprietary Silicon Feedstock process to production," said Ian MacLellan,
ARISE's President and CEO. "This high purity silicon is integral to our high
efficiency photovoltaic (PV) cell plans, and high efficiency is what matters
to our customers."
"The high cost of producing PV cells has been one of the major issues
facing the PV solar industry," said Vicky J. Sharpe, President and CEO of
SDTC. "ARISE's new production technique aims to increase efficiency while also
reducing costs. Should the ARISE project be successful, it will be an
important step forward for the PV solar industry in Canada and around the
The goal of the Silicon Feedstock Pilot Plant project is to develop and
demonstrate a new approach to refining high purity solar grade silicon
feedstock for photovoltaic (PV) applications. A major constraint in the PV
value chain has been the supply of silicon. The ARISE approach will use a new
technique to produce silicon feedstock that can be fed into the ingot-making
process that produces crystalline silicon ingots for solar cells. The silicon
produced is currently expected to meet the specifications of high-efficiency
solar PV cell manufacturers.
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.
Sustainable Development Technology Canada (SDTC) is an arm's-length
foundation which has received $1.05 billion from the Government of Canada as
part of its commitment to create a healthy environment and a high quality of
life for all Canadians. SDTC operates two funds aimed at the development and
demonstration of innovative technological solutions. The $550 million SD Tech
Fund(TM) supports projects that address climate change, air quality, clean
water, and clean soil. The $500 million NextGen Biofuels Fund(TM) supports the
establishment of first-of-kind large demonstration-scale facilities for the
production of next-generation renewable fuels. SDTC operates as a
not-for-profit corporation and has been working with the public and private
sector including industry, academia, non-governmental organizations (NGOs),
the financial community and all levels of government to achieve this mandate.
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