6.9.2007: Meldung: Arise Announces New Vice President and Solar Park Initiatives
Richard has extensive experience in the energy market and was previously the Chief Conservation Officer and Vice President of Toronto Hydro Corporation. Richard holds an MBA from the University of Toronto, a Doctorate of Medicine (MD) from Tongji University in China as well as several other degrees. Through his role with Toronto Hydro he has been involved with several significant Solar Photovoltaic (PV) Projects in Ontario. Per the terms of his agreement with the Company he has been granted options to acquire 400,000 common shares of ARISE at $0.90 per share subject to final approval by the Board of Directors of ARISE and the TSX Venture Exchange. Of these options 100,000 will vest immediately. The remaining 300,000 will vest in 100,000 share increments every six months.
ARISE has recently signed four non-binding Letters Of Intent to provide complete solar park PV Systems totally 14.5MW to be installed over the next two to three years. In addition, following its announcement of June 19, 2007 the Company has now signed agreements to install grid connected solar electric PV Systems on 28 residences through the West Toronto Initiative for Solar Energy (WISE) with the potential for up to 100 residences in total. The Company has identified a number of potential PV System projects and has set a strategic goal to install 100MW of PV 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.
As a result of the Ontario Renewable Energy Standard Offer Program ("RESOP", see www.powerauthority.on.ca) ARISE is experiencing increased interest in installing Photovoltaic Systems on residential, industrial, commercial and institutional buildings as well as directly on open land (solar parks). In response to the interest the Company plans to create three regional branches in Ontario with the first one located at the ARISE office in Waterloo for the western Ontario region. The Company plans to have branches for the GTA region and also for the eastern/northern Ontario region.
Ian MacLellan, President and CEO stated, "The German PV market is the largest in the world having installed 1,150 MW in 2006. Germany now represents 45% of the world market, up from 14% in 2000. The industry production in MW has been growing at an average compounded growth rate of 40% per year since 1996. Our initial experience with the RESOP is the Ontario market appears to be on a similar trajectory as Germany in the late 90"s with their 100,000-roof initiative. We are targeting to be a significant PV System supplier focused on the Ontario market. Richard is a great addition to the team and will assist us in making this happen."
ARISE Technologies is dedicated to accelerating the use of solar energy in mainstream North American markets. The Company has three operations: Photovoltaic (PV) Technology, Silicon Feedstock and Systems. ARISE Common shares are listed on the TSX Venture Exchange under the trading symbol APV and on the Frankfurt Stock Exchange Open Market 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, 65 Northland Road Waterloo, Ontario, Canada, N2V 1Y8 Tel., (519) 725-2244, Fax: (519) 725-8907, www.arisetech.com
Ian MacLellan, President & CEO, (519) 772-5707, firstname.lastname@example.org