ARISE Technologies Corporation Announces Letters of Intent for Additional Solar Parks
10:38 EST Monday, November 05, 2007
WATERLOO, ON, Nov. 5 /CNW/ - ARISE Technologies Corporation (TSX-V: APV) (ADAX: A3T) is pleased to announce that it has entered into additional non-binding Letters Of Intent to provide complete solar park PV Systems.
Including its announcement of September 4, 2007, if all projects envisioned by current letters of intent are completed, ARISE will be installing a total of 44MW of solar park PV systems over the next two to three years in six different projects. Completion of each proposed solar park is dependent on a number of conditions, including obtaining necessary zoning approvals and negotiating power supply contracts with the Ontario Power Authority.
The Company has also identified a number of further potential PV System projects and, as previously announced, has set a strategic goal to install 100MW of PV generating capacity in Ontario by 2010. This target represents about 40% of the Company's projected output from its German PV cell manufacturing plant over the same period.
Ian MacLellan, President and CEO stated, "The growing interest in the Ontario market is a result of the Ontario Renewable Energy Standard Offer Program introduced in 2006. We are continuing to see an increasing demand in solar park projects and both commercial and residential installations. We are pleased to be involved in key projects in Ontario and to be viewed as a leader in the renewable energy sector in Canada."
About ARISE
ARISE Technologies is dedicated to accelerating the use of solar energy in mainstream North American markets. The Company's shares are listed on the TSX Venture 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 contained in this press release may be considered as forward-looking. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from estimated or implied results.
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%SEDAR: 00017494E
For further information: ARISE Technologies Corporation, 65 Northland Road, Waterloo, Ontario, Canada, N2V 1Y8, Tel. (519) 725-2244, Fax: (519) 725-8907, www.arisetech.com; Ian MacLellan, President & CEO, (519) 725-2244 Ext. 5707, ian.maclellan@arisetech.com; TSX Venture Exchange Symbol: APV
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