BISCHOFSWERDA, Germany, Sept. 13 /CNW/ - ARISE Technologies Corporation
(TSX-V: APV) (ADAX: A3T) is pleased to announce that its wholly-owned
subsidiary ARISE Technologies Deutschland GmbH has laid the cornerstone for
its first production plant in Bischofswerda, Germany in the presence of over
100 guests from government and industry. Prominent speakers at the event
included the Minister President of the Free State of Saxony Prof. Dr. Georg
Milbradt, Canadian Ambassador to Germany, Paul Dubois and the mayor of
Bischofswerda, Andreas Erler.
The manufacturing plant is expected to be completed at the end of the
first quarter in 2008. The Company expects to ramp-up the first line to a
production capacity of 35MW per year with cell efficiency of greater than 15%.
By the end of 2007, the Company expects to finalize the design for line two
and place orders with suppliers. Currently, the Company plans to start
including its proprietary technology in line two, with a target capacity of
45MW per year and cell efficiency of 18%. The initial Bischofswerda facility
will accommodate a third line that is planned for 2009, increasing total
production capacity to 125MW. The Company has a target of eight lines at the
site, with a total production capacity of 360MW per year by the end of 2012.
Provided that certain technical hurdles are met, ARISE expects to achieve 22%
cell efficiency with the use of its proprietary PV cell process enhancements
by that time.
"With ARISE Technologies locating in Saxony, we now have seven
manufacturers of photovoltaic cells in our state. We are now the leader within
the country for this industry," stated Prof. Dr. Georg Milbradt, Minister
President of the Free State of Saxony.
The mayor of Bischofswerda Andreas Erler commented: "In the last third of
the 19th century, there was a strong industrial wave in Bischofswerda,
particularly in future oriented industrial segments such as metal, glass, and
textiles. The growth in these industries continued through the 20th century;
however, with the reunification of East Germany there was a breakdown in these
industries. Today we are pleased that the companies that have survived the
reunification are now growing again. And with the Canadian company ARISE
laying its cornerstone in our city's industrial park; we again have after a
long period of time a company in our city that is in a future oriented
industry. This brings us great hope that Bischofswerda, located east of
Dresden, will live up to its name as "Gate to Oberlausitz" in developing the
"ARISE is very thankful for the support that we have received from the
Free State of Saxony, the Saxony Economic Development Corporation, the
Saechsische Aufbaubank, the Commerzbank, Invest in Germany and the City of
Bischofswerda. We chose Germany as the location for our production plant
because it is the world's largest solar market. There is a high concentration
of solar companies in this region and a well developed technical workforce to
draw upon," commented Ian MacLellan, President and CEO of ARISE. "We believe
that by locating in Germany, ARISE will be able to accelerate its production
plans and reduce its implementation risk. We continue to be impressed with all
of the people we have met and our selected location."
ARISE Technologies is dedicated to accelerating the use of solar energy
in mainstream 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
Rd., Waterloo, Ontario, Canada N2V 1Y8, Tel. (519) 725-2244, Fax: (519)
725-8907, www.arisetech.com, TSX Venture Exchange Symbol: APV; Ian MacLellan,
President & CEO, (519) 725-2244 x5707, email@example.com