WATERLOO, ON, Feb. 5 /CNW/ - ARISE Technologies Corporation ("ARISE" or
the "Company") (TSX: APV) congratulates the University of Toronto (U of T) on
its recently announced receipt of funding for four leading research projects.
ARISE is further delighted to announce that it is the industry partner for the
$15 million project to develop high-efficiency solar technologies which
received a $5 million funding commitment. The Ontario Research Fund Research
Excellence ("ORF-RE") grant is made available through the Ministry of Research
and Innovation. Minister of Research and Innovation John Wilkinson made the
announcement today at U of T.
"To ensure Ontario families can compete and win in the global economy,
our government is investing in research and innovation and the skills and
knowledge of our people today," said MPP for Kitchener-Centre, John Milloy.
"The strong partnerships among our top researchers, government and business
leaders right here in Waterloo and across the province - will provide
Ontarians with new technologies, a cleaner environment and more opportunities
Under the terms of the funding commitment, ARISE will contribute one
third of the $15 million total research program costs over 5 years, with the
balance of funding coming from the U of T and the Ministry of Research and
Innovation, in equal parts.
ARISE's significant commitment to the project builds on the seed-research
funding provided over the last several years in cooperation with the Ontario
Centres of Excellence and the Natural Sciences and Engineering Research
Council of Canada.
Commenting on the ORF-RE grant, Ian MacLellan, ARISE's President and CEO
remarked, "This funding is a terrific endorsement of our research activities
and is expected to bring us closer to our goal of 20% plus efficiency solar
cells, while lowering overall manufacturing costs."
About the Ministry of Research and Innovation
The Ontario Ministry of Research and Innovation focuses on innovation as
the driver of growth across all sectors of the economy. Through the Ontario
Research Fund Research Excellence (ORF-RE) program the Ontario government
promotes research excellence by supporting transformative, internationally
significant research of strategic value to the province. The ORF-RE focuses on
scientific excellence and strong commercialization and targets new,
leading-edge research initiatives. For more information about the Ontario
Research Fund, please visit www.ontario.ca/innovation.
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, email@example.com,