News
ARISE Technologies Corporation Congratulates McMaster University on Receiving Ontario Centres of Excellence Funding
2/11/2008
WATERLOO, ON, Feb. 11, 2008 (Canada NewsWire via COMTEX News Network) --
ARISE Technologies Corporation ("ARISE" or the "Company") (TSX: APV) congratulates McMaster University ("McMaster") on its receipt of funding for its high-efficiency solar technology research project. ARISE is also pleased to join with McMaster as its industry partner for this project which has been jointly funded through ARISE and the Ontario Centres of Excellence (OCE) Inc. Under the terms of the funding agreement ARISE will contribute approximately $2 million in cash and in kind funding of the $4.1 million total research program costs over 3 years, with the balance of the funding coming from McMaster and the OCE. The announcement was made today at Waterloo's Research and Technology Park.
McMaster's engineering physics professors Rafael Kleiman and John Preston have discovered a patent-pending method of applying single crystal layers of compound semiconductors on single crystal silicon crystal with the expectation it will convert sunlight to electricity twice as efficiently as other materials systems commonly in use. The silicon-based multi-junction solar cells being developed leverage existing solar cell manufacturing technologies, which should speed time to commercialization and keep costs competitive.
Commenting on the news, Ian MacLellan, ARISE's President and CEO remarked, "This project is expected to introduce a novel way to manufacture solar cells. When combined with ARISE's proprietary silicon technology currently being developed, there is the potential to more than double traditional PV cell efficiencies."
About Ontario Centres of Excellence (OCE) Inc.
Ontario Centres of Excellence (OCE) Inc. drives the commercialization of cutting-edge research across key market sectors to build the economy of tomorrow and secure Ontario's global competitiveness. OCE also fosters the training and development of the next generation of innovators and entrepreneurs, and is a key partner with Ontario's industry, universities, colleges, research hospitals, investors and governments. OCE's five Centres work in communications and information technology, earth and environmental technologies, energy, materials and manufacturing and photonics. (www.oce-ontario.org)
About McMaster University
McMaster University is a research-intensive university based in Hamilton. One of only four Canadian universities to be listed on the Top 100 universities in the world, McMaster has a student population of more than 23,000, and an alumni population of over 130,000 in 128 countries. McMaster's Department of Engineering Physics teaches the application of modern physics concepts towards the engineering of new technological advances. (http://engphys.mcmaster.ca))
About ARISE
ARISE Technologies is dedicated to accelerating the use of solar energy in mainstream markets. 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.
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