ARISE Technologies Signs Six-Year Agreement for Supply of Silicon Wafers From ReneSola

    WATERLOO, ON, June 11 /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
wholly owned subsidiary, ARISE Technologies Deutschland GmbH (ARISE Germany)
has signed a six-year agreement with a wholly owned subsidiary of ReneSola Ltd
(NYSE:   SOL and AIM: SOLA.L) to supply ARISE with 203.5 MW of silicon wafers.
ReneSola Ltd is a leading solar wafer manufacturer based in China.
    The agreement with Zhejiang Yuhui Energy Source Co., Ltd. commences July
1, 2008 and extends through June 30, 2014. Shipments are expected to consist
of 203.5 MW of silicon wafers over the 6-year term. Pricing and payment terms
are consistent with current standard industry practices.
    "With this agreement, ARISE now has supply contracts for 100 percent of
the solar wafers that we require in 2008 and approximately 60 percent of our
needs for 2009 for our PV (photovoltaic) cell production plans at our new
German manufacturing plant," said Bart Tichelman, President and Chief
Executive Officer. "ReneSola is the seventh, high-quality silicon wafer
manufacturer with which ARISE now has developed a supply relationship that we
believe will enable us to meet our longer-term requirements."

    About ReneSola

    ReneSola Ltd is a leading solar wafer manufacturer based in China.
Capitalizing on proprietary technologies and technical know-how, ReneSola
manufactures monocrystalline and multicrystalline solar wafers. In addition,
ReneSola strives to enhance its competitiveness through upstream integration
into virgin polysilicon manufacturing. ReneSola possesses a global network of
suppliers and customers that include some of the leading global manufacturers
of solar cells and modules. ReneSola's shares are currently traded on the New
York Stock Exchange (NYSE:   SOL) and the AIM of the London Stock Exchange (AIM:
SOLA.L). For more information about ReneSola, please visit

    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 and

    Forward-Looking Statements

    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.

    %SEDAR: 00017494E

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,,

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