Day4 Energy Announces Reduction in Workforce



    BURNABY, BC, Jan. 6 /CNW/ - Day4 Energy Inc. (TSX: DFE), a solar electric
technology developer and manufacturer of superior performance solar modules,
today announced the company has implemented a reduction in its overall
headcount affecting approximately 95 people primarily at its Burnaby
production facility.
    "While it is always a difficult decision to let people go, it is equally
important to ensure the company is best positioned to meet the realities of
the new solar economy. We are seeing continued strength in demand for our
product in Europe and remain confident in our contracted sales for 2009,
however, given the broader economic environment and seasonal weather patterns
we are being proactive in managing our business to avoid inventory build-up.
With this action to streamline the company's cost structure we are taking
advantage of our flexible business model as we pursue our strategy to reduce
working capital costs and capitalize on the significant reductions we expect
in materials costs over the next couple of quarters," said George Rubin,
president of Day4 Energy. "We are confident that with these changes we will be
able to adjust our production to effectively and efficiently meet the best
timing and geographical demand for 2009. This strategy will not only align our
cost structure with the potential for the near term but it will also
ultimately put the company in a better position to expand and grow with the
market in the future. This will allow us to focus on those parts of the
business that drive the highest returns."
    Day4 Energy will provide its employees affected by the workforce
reduction with severance and human resource support to assist with
outplacement. We expect there will be an associated restructuring charge of
approximately $0.7 million recorded in 2009.

    About Day4 Energy

    Day4 Energy Inc. is Canada's largest manufacturer of high performance
photovoltaic (PV) modules for residential, commercial and utility scale
installations around the world. By fundamentally improving on the design and
assembly of solar modules, Day4 Energy produces unique PV panels of high power
density, increased lifetime and uncompromised aesthetic appearance. Day4
Energy partners with international technology leaders to develop and deliver
IEC- and UL-certified solar products to customers throughout Europe and North
America.
    Day4 Energy is listed on the Toronto Stock Exchange under the symbol
"DFE". For more information, please visit www.day4energy.com.

    Caution Regarding Forward-Looking Statements

    This news release contains forward-looking statements that relate to our
current expectations and views of future events. These forward-looking
statements include, among other things, statements relating to our
expectations regarding continued strength in demand for our products, our
confidence in our contracted sales for 2009, our ability to avoid inventory
build-up, our ability to reduce costs including working capital costs and
material costs, our ability to adjust production to meeting timing and demand,
our ability to expand and grow and our expected restructuring charge in 2009.
    The forward-looking statements contained in this news release are based
on assumptions, which include, but are not limited to, our ability to adjust
or outsource our annual PV module manufacturing capacity; our ability to
secure raw materials at acceptable prices and qualities; our ability to
achieve increased PV cell and PV module efficiencies; our ability to expand
our existing product line; our ability to attract customers and develop and
maintain customer and supplier relationships; our ability to diversify our
suppliers; our ability to effectively manage foreign exchange risks; our
ability to protect our intellectual property rights and to not infringe on the
intellectual property rights of third parties; and our ability to comply with
applicable governmental regulations and standards going forward.
    Such forward-looking statements are subject to risks, uncertainties and
other factors, including those listed in our Annual Information Form filed
with Canadian securities regulatory authorities, many of which are beyond our
control and each of which contributes to the possibility that our
forward-looking statements will not occur or that actual results, performance
or achievements may differ materially from those expressed or implied by such
statements. These risks, uncertainties and other factors include, but are not
limited to, the impact of general economic, market or business conditions; our
limited operating history; the current industry-wide shortage of high-purity
silicon; risks relating to the protection of our intellectual property and
intellectual property infringement claims by third parties; our dependence on
a limited number of PV cell suppliers; government subsidies and economic
incentives for PV power could be reduced or eliminated; we may be unable to
achieve higher PV module efficiencies; our dependence on a limited number of
customers and our lack of long-term purchase contracts; demand for PV modules;
technological changes in the PV power industry could render our products
uncompetitive or obsolete; unexpected warranty expenses; fluctuations in
exchange rates; product liability claims; compliance with environmental
regulations; and other factors, many of which are beyond our control.
    The forward-looking statements made in this news release relate only to
events or information as of the date indicated above. Except as required by
law, we undertake no obligation to update or revise publicly any
forward-looking statements, whether as a result of new information, future
events or otherwise, after the date on which the statements are made or to
reflect the occurrence of unanticipated events.

    %SEDAR: 00026066E




For further information:

For further information: Therese Hayes, Head, Corporate Development,
Day4 Energy Inc., (604) 296-0434, thayes@day4energy.com

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