WATERLOO, ON, June 19 /CNW/ - ARISE Technologies Corporation (TSX-V: APV)
(ADAX: A3T) is pleased to announce that it is the winning vendor in a
competitive bidding process to install turnkey photovoltaic (PV) rooftop units
through the West Toronto Initiative for Solar Energy (WISE).
ARISE and WISE will leverage the Ontario government's Standard Offer
Contract offered through the Ontario Power Authority (OPA). Through this
program, OPA guarantees payment of 42 cents per kilowatt hour to small-scale
producers of solar energy that supply electricity to the public electrical
WISE is a dynamic, community-led renewable energy project involving
several neighbourhoods in West Toronto. The organization has already staged a
series of well attended community meetings over the past year. To date, up to
300 area residents have expressed interest in participating in the program.
WISE representatives anticipate up to one-third, or 100 residences could
ultimately take advantage of this initiative, which would represent the
largest residential solar energy project ever implemented in Canada.
A public meeting will be held for area residents June 19, 2007 at 7 p.m.
at the Holy Rosary Church Hall, 354 St. Clair Ave. West, Toronto. Residents
have until July 20, 2007 to commit to systems in order to qualify for volume
discounts based on the number of systems sold to WISE members.
"We are very excited about the WISE initiative and the tremendous support
that area residents have shown for this project," said Ian MacLellan,
President and CEO of ARISE Technologies Corporation. "This is the latest in a
series of landmark projects we have announced throughout Ontario and should
provide considerable synergies with our PV operation as we seek to
commercialize our proprietary, high-efficiency solar cell technology."
ARISE Technologies is dedicated to accelerating the use of solar energy
in mainstream North American markets. The Company has three operations:
Photovoltaic (PV) Technology, Silicon Feedstock and Systems. ARISE Common
Shares are listed on the TSX Venture Exchange under the trading symbol APV and
on the Frankfurt Stock Exchange Open Market under the trading 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: David Ward, Director, Communications & Investor
Relations, ARISE Technologies Corporation, T: (519) 772-5709, C: (416)
953-7638, E: email@example.com, Internet: www.arisetech.com