WATERLOO, ON, Oct. 20 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T), which is dedicated to becoming a leader in high-performance, high-quality, cost-effective solar technology, today announced that it ranked number 103 in North America on Deloitte's 2009 Technology Fast 500(TM).
Deloitte's 2009 Technology Fast 500 is a ranking of the 500 fastest-growing technology, media, telecommunications, life sciences, and clean-technology companies in North America. Rankings are based on percentage of fiscal year revenue growth during the five-year period from 2004-2008. ARISE grew 1,750% during this period.
"We are honored to be recognized by Deloitte twice in succession," commented ARISE's Chief Executive Officer and President, Vern Heinrichs. "Earlier this month, Deloitte's Fast 50(TM) list for Canada ranked ARISE in 15th place."
"ARISE is very active in pursuing initiatives aimed at driving our growth in the future and we hope that will enable us to climb further up in Deloitte's future rankings," said Ian MacLellan, Chief Technology Officer and President of ARISE's PV Systems Division. "For example, the timing of this recognition dovetails with our recent announcement of our plans to create a Technology Centre in Gelsenkirchen, Germany. The new Technology Centre represents a key element in our broader technology strategy. The Centre is expected to enable ARISE to perform rigorous pre-production testing of our high-efficiency technology prior to introducing the technology into our commercial PV cell manufacturing operations. We plan to roll out our proprietary technology in the next several years, and expect to make significant inroads toward our ultimate goal of producing high-efficiency ARISE cells."
"Deloitte's Technology Fast 500 recognizes innovative companies that have broken down barriers to success and defied the odds with their remarkable five-year revenue growth. We congratulate ARISE on this accomplishment," said John Ruffolo, National Leader, Technology, Media & Telecommunications Industry Group, Deloitte. "With its impressive five-year growth, ARISE Technologies has earned its position among the fastest-growing technology, media, telecommunications, life sciences, and clean-technology companies in North America. Deloitte is proud to honor ARISE for its achievement."
Overall, companies that ranked on the 2009 Technology Fast 500 had growth rates ranging from 212% to 146,050% over five years, with an average growth rate of 2,486%.
Technology Fast 500 Selection and Qualifying Criteria
The Technology Fast 500 award program ranks the fastest growing technology, media, telecommunications, life sciences and clean technology companies in North America. It is compiled from nominations submitted directly to the Technology Fast 500 website, and public company database research conducted by Deloitte. Deloitte's 2009 Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth during the five year period from 2004 to 2008.
In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of the company's operating revenues. Using other companies' technology or intellectual property in a unique way does not qualify. Consulting companies, professional service firms, etc. are not eligible unless they have proprietary technology that contributes to a significant portion of their operating revenues. Technology Fast 500 award eligibility requirements include base-year operating revenues of at least $50,000 USD or CD, and current-year operating revenues of at least $5 million USD or CD. Additionally, these revenues must have more than doubled between 2004 and 2008. Also, companies must be in business for a minimum of five years, and be headquartered within North America.
As used in this document, "Deloitte" means Deloitte LLP. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries.
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%. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% 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 has been providing PV solutions for solar farms and rooftop installations since 1996 throughout North America. ARISE is planning to expand its Systems business in Ontario under the Ontario FIT (Feed-In-Tariff) 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.
SOURCE ARISE TECHNOLOGIES CORPORATION
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