WATERLOO, ON, July 22 /CNW/ - ARISE Technologies Corporation (TSX: APV
and Frankfurt: A3T), which is dedicated to becoming a leader in
high-performance, cost-effective solar technology, today announced that its
new PV (photovoltaic) cell manufacturing plant in Bischofswerda, Germany has
started full production by manufacturing 24 hours a day, 7 days per week.
"With the successful completion of the Site Acceptance Tests for Line 1,
we are ramping up our production levels to meet our customers' requirement for
PV cells. This is another milestone for ARISE in our path towards becoming a
leading supplier of PV cells for the solar energy industry," said
Bart Tichelman, President and Chief Executive Officer.
"We are achieving the targeted level of 15.0% average PV cell efficiency
with a peak efficiency of 15.7%, as well as our targets for manufacturing
yield and throughput. We were pleased to present our equipment supplier (OTB
Solar B.V. of Eindhoven, the Netherlands) with the acceptance letter
certifying that it has met our specifications. We appreciate the efforts that
they and our management team and staff at the plant have made to enable us to
meet our rigorous requirements. In only a few months, we have progressed from
producing our first PV cell in mid-April to where we have been able to move to
24/7 production," Mr. Tichelman said.
"As previously announced, our customers are continuing their testing of
the PV cells that we shipped to them for that purpose," he continued. "We
remain in close communication with them and we are pleased with the feedback."
About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated
to becoming a leader in high-performance, cost-effective solar technology. The
company operates through three divisions. The PV Cell Division manufactures PV
(photovoltaic) cells at its first manufacturing plant opened in April 2008 in
Bischofswerda, Germany. The division is developing proprietary technology with
a target of achieving a step-by-step progression to a high-efficiency level of
greater than 20 percent. The PV Silicon Division is using a proprietary method
to produce silicon at 7N+ high-purity (99.99999 percent purity) for PV cell
applications, based on a simplified chemical vapor deposition process. The
division is focusing on scaling up its process to provide ARISE with control
over its supply, costs, and quality. The PV Systems Division provides complete
turnkey PV solutions for solar farms and rooftop installations under the
Ontario standard offer program.
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 www.sedar.com.
Certain statements in this news release may be considered to be
forward-looking. Such statements are based on management's current
expectations, estimations, and assumptions based on experience, trends, and
other factors that are subject to the significant risks and uncertainties
described in our regulatory filings. Please refer to these. Such risks and
uncertainties may include, but are not limited to, the effects of general
economic conditions, changing foreign exchange rates, actions by government
authorities, uncertainties associated with legal proceedings and negotiations,
industry supply levels, competitive pricing pressures and misjudgments in the
course of preparing forward-looking statements. ARISE assumes no obligation to
update any forward-looking statements or to update the reasons why actual
results could differ from those reflected in the forward-looking statements.
For further information:
For further information: ARISE Technologies Corporation, 65 Northland
Road, Waterloo, Ontario, Canada, N2V 1Y8, Dave Chornaby, Chief Financial
Officer, (519) 772-5732, Dave.Chornaby@arisetech.com, www.arisetech.com