WATERLOO, ON, April 2 /CNW/ - ARISE Technologies Corporation (TSX: APV
and Frankfurt: A3T), which is dedicated to becoming a leader in
high-performance, cost-effective solar technology, will welcome the Honourable
George Smitherman, Ontario's Deputy Premier and Minister of Energy and
Infrastructure, at its Waterloo headquarters at 4:00 p.m. where he will tour
the company's facility and meet with company officials.
ARISE is among the clean technology companies expected to benefit from
Ontario's new Green Energy Act once it has been passed.
"The Green Energy Act, including the feed-in tariff (FIT) proposal that
the Government of Ontario has announced, is an important, long-awaited, and
exciting development for ARISE in several important respects," stated Vern
Heinrichs, the company's President and Chief Executive Officer.
"When adopted, the program should improve payback and make the economics
far more attractive for solar systems in Ontario. This already has been
demonstrated in several European countries and Ontario's proposed program is
the first of its kind in North America. The provision of long-term price
guarantees is expected to increase investor confidence and access to
financing, which should smooth the way for numerous projects that have been on
the drawing board for some time as well as many new ones.
"Our customers, potential customers, and partners are telling us that the
FIT rates are definitely in the ballpark and are what is needed to generate
consistent, reasonable, and predictable returns over the long term. Once
finalized, we expect the FIT program to stimulate demand levels for PV solar
across all segments, ranging from community-based rooftops and commercial
installations to large utility-scale solar farms.
"In addition to enabling ARISE to grow our Systems business, we are
particularly excited at the prospect that we could supply PV cells from our
plant to meet the demand in Ontario. ARISE recently announced the start-up of
a second high-efficiency production line at our PV cell manufacturing plant
and we are in discussions with module manufacturers to determine how we can
draw on this capability in pursuing opportunities in Ontario. We believe that
the vertical integration that ARISE is developing from silicon production
through PV cell manufacturing, and systems installation should provide us with
a competitive advantage in terms of supply-chain economies," Mr. Heinrichs
"Although it is premature to estimate the size of the opportunity, the
Ontario Power Authority has stated it expects to be in a position to implement
the FIT program this summer. Assuming this is the case, we would expect ARISE
to benefit in 2009," commented Mr. Heinrichs.
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) for PV applications,
based on a simplified chemical vapour 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
Renewable Energy 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