2.11.2005: Meldung: Carmanah Technologies Corp.: Investor Update Newsletter
If you have any questions, comments or suggestions about this publication or Carmanah in general, please contact Mark Komonoski, Manager of Investor Relations, toll-free: 800-665-3749 (US & Canada) or worldwide: +1 (403) 861-8384. You can also reach him at firstname.lastname@example.org.
IN THIS ISSUE
1. New Canadian Manufacturing Facility
2. Carmanah"s First Annual International Sales Summit
3. Alberta"s FireNet Using Carmanah"s Solar Power System Expansion Equipment
4. Carmanah Supplies Solar Power System to City of Seattle, WA
5. Five Solar Power Systems Delivered to the US Navy
6. Eleven Proprietary Modular Solar Power Systems Supplied to Pacific Rim Mines
7. Recent Media Highlights
8. Recognition: Carmanah Ranks #3 in "2005 BusinessBC Top 100"
9. New Case Study Available Online
10. Analyst Coverage
1. NEW CANADIAN MANUFACTURING FACILITY
In late September, 2005, Carmanah secured a new facility that will provide the Company with approximately 25,000 sq.ft. of additional manufacturing, warehousing, and office space - representing more than a 100% increase over its current manufacturing and warehousing space at Harbour Road. Located on Enterprise Cresent in Saanich (in the Vanalman/Glanford area of Victoria), this superb new facility will enable Carmanah to merge its Victoria-based manufacturing and warehousing for both the Solar LED Lighting Group and Power Systems Group (formerly Soltek Powersource Ltd.), as well as some "on site" production engineering. The new facility will provide manufacturing and warehousing departments the opportunity to plan a more spacious and streamlined production and distribution layout - all within one building.
With manufacturing and warehousing centralized at this new facility, the remaining Victoria-based administration, engineering, purchasing and sales & marketing teams will come together at Carmanah"s Harbour Road facility. This is a big step towards Carmanah"s successful integration with Soltek Powersource Ltd., as it will provide an excellent foundation for building synergies and relationships. Space and manufacturing layout planning for Carmanah"s combined operations is already underway. The objective is to have Victoria-based manufacturing and warehousing operations moved before the end of Q1 2006, with the Harbour Road co-location completed shortly thereafter.
2. CARMANAH"S FIRST ANNUAL INTERNATIONAL SALES SUMMIT
In October , 2005, Carmanah hosted its first annual international sales event and all of Carmanah"s sales staff and management worldwide attended. On day one, presentations were made on each of Carmanah"s market verticals, including an introduction to the team, current operations, market position, opportunties and challenges. For many of the staff in the solar LED lighting group, the solar power systems group, and the LED sign group, this was the first time they met for an extended period of time to get to know each other and work together on Carmanah"s common goals.
Day two was a planning session to identify and prioritize sales initiatives for 2006, as well as the resources necessary for successful implementation. Late in the afternoon of day two, all Carmanah sales staff, as well as all staff from both the Victoria-based Solar LED Group and Solar Power Systems Group facilities, were invited to an open house at Carmanah"s new building on Enterprise Cresent in Saanich, just North of Victoria. The staff shared a presentation on the future of Carmanah by its CEO, Art Aylesworth. Groups were then given a tour of the facility, including an overview of the future layout of the manufacturing and distribution plant.
Carmanah"s first annual Sales Summit was an outstanding success and an important step in the ongoing integration of the Company"s sales groups. There was an overwhelming feeling of excitement about the future of Carmanah and its potential to become one of the world"s largest integrators of energy-efficient technologies.
3. ALBERTA"S FIRENET USING CARMANAH"S SOLAR POWER SYSTEM EXPANSION EQUIPMENT
September 27, 2005 - Carmanah"s Power Systems Group has received an order for solar system expansion equipment to be installed at the Moose Mountain and Barrier Mountain FireNet locations in Alberta, Canada. This order follows a larger project in 2002, when Carmanah"s Power Systems Group designed and supplied complete solar system solutions to power 91 communications network sites, known as "FireNet" systems. All FireNet sites are located in remote mountain regions and are operated by the Government of Alberta"s Forest Protection Division. Carmanah"s solar power systems currently provide power to all the remote base stations and mountain top sites. As these satellite-based, wide-area radio communications sites are not easily accessible, low-maintenance, reliable solutions were required.
For nearly 20 years, Carmanah"s Power Systems Group has worked with clients looking to install solar systems for commercial and industrial applications. Carmanah"s Power Systems Group has become a specialist in remote power, with more than 80,000 solar systems installed in some of the most environmentally challenging locations on Earth. Due to the technical and often customized needs of ist commercial and industrial clients, Carmanah has a team of in-house specialists dedicated to system design, implementation and long-term customer satisfaction.
4. CARMANAH SUPPLIES SOLAR POWER SYSTEM TO THE CITY OF SEATTLE, WA
October 24, 2005 - Carmanah has been contracted by the Seattle Public Utility District in Seattle, WA, to supply a 220-watt solar power system for a utility hydroelectric site located in the Cascade Mountains just east of the city. Seattle Public Utilities provides more than 1.3 million customers in King County with a reliable water supply, as well as essential sewer, drainage, and solid waste services for the City of Seattle. The utility"s remote mountaintop hydroelectric site does not have access to conventional grid electricity and required an alternative power supply to monitor water flow in the area. Mountainous regions are typically remote and difficult to access in the winter, making Carmanah"s solar technology a cost-effective, reliable power supply solution. With thousands of systems already operating reliably in alpine, coastal and desert environments, Carmanah"s solar power systems are field-proven to provide the highest standards in reliable, long-term operation. More details: http://www.spsenergy.com/pages/news/05_10_24.htm
5. FIVE SOLAR POWER SYSTEMS DELIVERED TO THE US NAVY
October 29, 2005 - Carmanah has been contracted by the US Navy to supply five 2,720-watt solar power systems. These solar systems will be used to supply electricity for onsite security and monitoring cameras, communications equipment, and munitions scoring equipment at the Smoky Hill Air National Guard Range Facility, located in Salina, Kansas. The Smoky Hill Air National Guard Range is a remote military training area where no conventional grid power exists. Carmanah"s solar power systems are a cost-effective and reliable solution. Five of the seven Air National Guard ranges at the Smoky Hill location require solar power to be operational. For more details: http://www.spsenergy.com/pages/news/05_10_29.htm
6. ELEVEN PROPRIETARY MODULAR SOLAR POWER SYSTEMS SUPPLIED TO
PACIFIC RIM MINES
September 20, 2005 - Carmanah has received an order for 11 units of its proprietary 50-watt MAPPS (Modular Autonomous Photovoltaic Power Supply) systems from a US solar systems integrator specializing in complete Global Positioning System (GPS) solutions and life safety monitoring packages. These MAPPS systems will be installed at various remote mining facilities in the Pacific Rim Region of the United States.
For remote surface mining operations, it is paramount to have reliable telemetry equipment that monitors earth movement. The miners depend on this equipment for detection of seismic waves that could potentially cause a landslide and result in serious injuries or loss of life. Solar power is the best solution to safely and reliably generate electricity to power remote telemetry systems. Carmanah"s MAPPS system is the only complete stand-alone solar electric system available that is specifically designed for remote industrial applications.
Thousands of Carmanah MAPPS systems have been deployed worldwide over the past 15 years. These systems are field-proven to endure the extremely harsh environments found at many remote locations. In fact, Carmanah"s MAPPS systems can be approved for Class I, DIV. II hazardous locations (UL Pending). For more details: http://www.spsenergy.com/pages/news/05_09_20a.htm
7. RECENT MEDIA HIGHLIGHTS
Oct 26 Vancouver Sun - "Carmanah Ranks #3 in "2005 BusinessBC Top 100" "
Oct 17 TSX Venture Exchange - "Public Venture Capital Can Help Fuel Your Company"s Growth"
Oct 26 British Columbia Environment Industry Assoc. News - "Carmanah Among Fastest Growing Companies"
Sept 22 British Columbia Environment Industry Assoc. News - "Carmanah Honoured at World Expo"
Oct 7 Times Colonist - "Europeans Actively Seek Green Investments"
Oct 5 Canada-Asia News - "Carmanah Technologies Expanding Sales in Japan"
Oct 29 Vancouver Sun - "Sustainable Condo on Road to Promote Green Building"
Oct 7 TRANSIT Magazine - "Carmanah Wins Trueform Solar Lighting Contract to Light Up London"s Bus
Sept 22 routeONE Magazine - "Carmanah to Supply 7,000 Solar Bus Stops"
Oct 19 Edinburgh Evening News - "Solar-Powered Shelters Put Other Bus Stops in the Shade"
Oct 7 Victoria Times-Colonist - "Carmanah Technologies outgrows old facilities"
Sept 27 Electrical Review - "Carmanah Awarded Contract for Supply of 1,200 Solar LED Illuminated Bus Stops"
Sept 30 Ealing Times - "Borough First in Capital to Go Solar as Safer Lit Bus Stops Rolled Out";
Oct 6 Hounslow Guardian - "New Solar Technology Could Launch a Bus Stop Revolution"
Oct 2 Standard-Examiner - "Energy from Above: Eden Company Part of Utah Solar Tour"
Sept 22 Financial Times - "Bus Stops to Get Solar-Powered Lighting";
A full archive of articles can be found at: www.carmanah.com/content/investors/mediaclippings.aspx
Carmanah Ranks #3 in "2005 BusinessBC Top 100"
Oct 26, 2005
In October 2005, Carmanah was ranked #3 as part of the "2005 BusinessBC Top 100" by the Vancouver Sun. The Top 100 names British Columbia"s fastest-growing public companies and stongest public firms. Its criteria for evaluation included growth in employment rolls, share price, earnings and revenues. The evaluation formula was developed by professor James Brander of the Sauder School of Business at the University of British Columbia with Ernst & Young managing partner Fred Withers and project accountants Michael McCarthy and Paul Bridges. To see all of Carmanah"s awards and recognition, please visit: http://www.carmanah.com/content/company/Awards.aspx
9. NEW CASE STUDY AVAILABLE ONLINE
Transit Case Study: Pierce Country Transit, Lakewood Washington
Added October 21, 2005
Pierce Transit in Lakewood, Washington has now deployed Carmanah"s full range of solar-powered LED transit lighting products - bus signaling devices, illuminated bus stops and illuminated shelters. To view all of the online case study presentations, visit: http://www.carmanah.com/content/products/casestudies/
10. ANALYST COVERAGE
Carmanah Technologies Corporation is currently followed by the research analysts listed below: Robert Duncan, CFA Research Analyst, Special Situations McFarlane Gordon Inc.
- Updated: Septembery 22, 2005
Marko Pencak Managing Director,
Research Special Situations Analyst GMP Securities
- Updated: September 9, 2005
Marcel Brichon, CFA, FCSI
Northern Securities Inc.
- Updated: July 13, 2005
Sara Elford, CFA
- Updated: July 12, 2005
Contact information for all analysts covering Carmanah is available at:
CARMANAH TECHNOLOGIES CORPORATION
TSX Venture Exchange: "CMH"
Berlin and Deutsche Borse AG: "QCX"
(Security Code : WKN662218)
Mr. Mark Komonoski
Manager of Investor Relations
Toll-Free (US & Canada): (800) 665-3749
Worldwide: +1 (403) 252-6047
Fax: +1 (403) 252-5580