WATERLOO, ON, Feb. 11 /CNW/ - ARISE Technologies Corporation ("ARISE" or
the "Company") (TSX: APV) congratulates McMaster University ("McMaster") on
its receipt of funding for its high-efficiency solar technology research
project. ARISE is also pleased to join with McMaster as its industry partner
for this project which has been jointly funded through ARISE and the Ontario
Centres of Excellence (OCE) Inc. Under the terms of the funding agreement
ARISE will contribute approximately $2 million in cash and in kind funding of
the $4.1 million total research program costs over 3 years, with the balance
of the funding coming from McMaster and the OCE. The announcement was made
today at Waterloo's Research and Technology Park.
McMaster's engineering physics professors Rafael Kleiman and John Preston
have discovered a patent-pending method of applying single crystal layers of
compound semiconductors on single crystal silicon crystal with the expectation
it will convert sunlight to electricity twice as efficiently as other
materials systems commonly in use. The silicon-based multi-junction solar
cells being developed leverage existing solar cell manufacturing technologies,
which should speed time to commercialization and keep costs competitive.
Commenting on the news, Ian MacLellan, ARISE's President and CEO
remarked, "This project is expected to introduce a novel way to manufacture
solar cells. When combined with ARISE's proprietary silicon technology
currently being developed, there is the potential to more than double
traditional PV cell efficiencies."
About Ontario Centres of Excellence (OCE) Inc.
Ontario Centres of Excellence (OCE) Inc. drives the commercialization of
cutting-edge research across key market sectors to build the economy of
tomorrow and secure Ontario's global competitiveness. OCE also fosters the
training and development of the next generation of innovators and
entrepreneurs, and is a key partner with Ontario's industry, universities,
colleges, research hospitals, investors and governments. OCE's five Centres
work in communications and information technology, earth and environmental
technologies, energy, materials and manufacturing and photonics.
About McMaster University
McMaster University is a research-intensive university based in Hamilton.
One of only four Canadian universities to be listed on the Top 100
universities in the world, McMaster has a student population of more than
23,000, and an alumni population of over 130,000 in 128 countries. McMaster's
Department of Engineering Physics teaches the application of modern physics
concepts towards the engineering of new technological advances.
ARISE Technologies is dedicated to accelerating the use of solar energy
in mainstream markets. The Company's shares are listed on the Toronto Stock
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
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.
TSX: APV, ADAX: A3T
For further information:
For further information: ARISE Technologies Corporation, 65 Northland
Road Waterloo, Ontario, Canada, N2V 1Y8; Gordon Jekubik, Vice President &
Corporate Secretary, (519) 772-5710, firstname.lastname@example.org,