- Presents ceremonial PV cells to first two major customers, SOLON AG
and aleo solar AG
- SOLON and aleo conducting trials of production cells towards
approving volume shipments
- ARISE determines that existing manufacturing plant can accommodate a
fourth production line, targeted for first-half 2010 start-up
BISCHOFSWERDA, GERMANY, June 6 /CNW/ - ARISE Technologies Corporation
(TSX: APV and Frankfurt: A3T), which is dedicated to becoming a leader in
high-performance, cost-effective solar technology, today officially opened its
PV (photovoltaic) cell manufacturing plant in Bischofswerda, Germany.
To mark the opening, Sjouke Zijlstra, vice-president and general manager
ARISE Technologies Deutschland GmbH, presented Therese Raatz, Head of Investor
Relations of SOLON AG and Hanspeter Haseloff, Head of Purchasing, of aleo
solar AG with commemorative PV cells produced at the plant.
"This ceremonial opening marks a major milestone for ARISE, but it is
only one of many more to come," said Mr. Zijlstra. "SOLON and aleo are
conducting the standard trials of our initially produced PV cells, and
following acceptance we will be ready to begin volume shipments to them,
likely this month. In the meanwhile, we are building up our inventory of
PV cells to meet their requirements.
"While ramping up production on Line 1 and moving forward to bring Line 2
into production in the first quarter of next year, we are planning the
installation of the third line for this building. We also now have determined
that the current building will be able to accommodate our fourth line that we
are currently targeting to put into production in the first half of 2010. This
is noteworthy as it indicates that ARISE will not require additional capital
to construct a second building here in that timeframe," Mr. Zijlstra said.
"The successful opening and start-up of production at our first PV cell
manufacturing plant on time and on budget is a very significant achievement
for ARISE Technologies," said Bart Tichelman, President and Chief Executive
Officer. "It could not have been achieved without the hard work and commitment
of everyone at ARISE Germany and the assistance of the companies that provided
us the equipment, carried out the design, engineering, and construction work,
provided the financing, and the cooperation and encouragement of the
government officials with whom we worked in Germany. We extend our
appreciation to all of them and look forward to maintaining these
relationships as we grow our operations there."
In addition to current and potential customers, the official opening was
attended by a number of other dignitaries, including Stanislaw Tillich, the
Minister-President of the State of Saxony; Andreas Erler, the mayor of
Bischofswerda; and Paul Dubois, the Canadian Ambassador to Germany.
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