22.12.2006: Meldung: Arise Technologies Corp.: German Funding Grant Approved

Arise German Funding Grant Approved
Thursday December 21, 9:21 am ET

Waterloo Region, on, Dec. 21 - Arise Technologies Corporation, is pleased to announce that it has been notified that its application for government funding has been approved.

Further to Arise media releases dated Aug. 15, Sept 5 and Nov. 16, Dec. 1 and Dec. 11, 2006, the Company"s application to Sachsische Aufbaubank GmbH (SAB) for government grants and tax incentives has been approved. The Company expects to receive detailed documentation setting out terms of the grants and incentives before the end of 2006 and expects to execute definitive agreements relating to the grant program in early 2007. As typical with grant and incentive programs like this, Arise has several conditions to fulfill prior to receiving the funds, including finalizing arrangements for additional debt and equity financing. The Company expects to be able to meet all requirements of the SAB"s grant and incentive program.

Ian MacLellan, President and CEO of Arise commented, "We are very pleased with this good news. We can now start the detailed implementation for our plans in Bischofswerda. I would like to thank everyone with the IIC, SAB, Commerzbank, State of Saxony and the town of Bischofswerda for all the assistance in getting the application approved. We are very excited about this project."

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.

The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release.

For further information

Arise Technologies Corporation, 321 Shoemaker Street, Kitchener, Ontario, Canada, N2E 3B3, Tel. (519) 725-2244, Fax: (519) 725-8907, www.arisetech.com
Ian MacLellan, President & CEO, (519) 725-2244 x222, ian.maclellan@arisetech.com, TSX Venture Exchange Symbol: APV

Source: Arise Technologies Corporation
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