ARISE Technologies' New German Plant Begins PV Cell Production
<< - Company's first PV cell plant begins production on time and on budget just eight months after groundbreaking - Ramping up of production capacity underway >>
WATERLOO, ON, April 17 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T), which is dedicated to becoming a leader in high-performance, cost-effective solar technology, today announced that its new plant in Bischofswerda, Germany has begun producing photovoltaic (PV) cells. "The production of the first commercial PV cell by our new plant on schedule and on budget is a great milestone achievement for ARISE Technologies," said Bart Tichelman, President and Chief Executive Officer. "That we have taken this project from the initial planning only 16 months ago, through purchasing the 13-hectare site and starting construction last August, to the start-up of commercial production today is a great accomplishment. We thank our Vice-President and General Manager of ARISE Technologies Deutschland GmbH, Sjouke Zijlstra, and his team for the great effort that they have made. We also appreciate the great support of the contractors and equipment suppliers who worked so effectively with us, enabling us to stay on schedule, including DHV B.V., HOCHTIEF Construction AG, Axima GmbH, Actemium GmbH, AW Abwasser Wasser Technik GmbH and OTB Solar B.V. It truly has been a team effort." The production of the first commercial PV cell is the beginning of a six-month ramp-up process that will bring the output on Line 1 at the German plant to an annual rate of 35MW. Line 1 is employing off-the-shelf technology to produce PV cells with a targeted efficiency of more than 15 percent. ARISE recently announced that it signed a supply contract for the design, delivery, and commissioning of manufacturing and handling equipment for Line 2 of the Bischofswerda plant. ARISE expects that Line 2 will begin production in the 2009 first quarter, increasing the plant's capacity to 80MW annually. The company expects that the cells produced on Line 2 will have an efficiency of up to 18 percent when the line is fully optimized. Through 2012, ARISE has established a target of 560MW capacity from 12 production lines, with a step-by-step progression to more than 20 percent cell efficiency.
About ARISE Technologies
ARISE Technologies Corporation, based in Waterloo, Ontario, is dedicated to becoming a leader in high-performance, cost-effective solar technology. The company operates through three divisions. The PV Cell Technology Division manufactures PV (photovoltaic) cells at a targeted efficiency of more than 15 percent at its first manufacturing plant opened in April 2008 in Bischofswerda, Germany. The division is developing proprietary technology with a target of achieving a step-by-step progression to a high-efficiency level of more than 20 percent. The PV Silicon Technology Division is focusing on improving PV cell efficiency to make the technology more cost-effective and is also working to reduce or eliminate supply constraints. The PV Systems Division provides complete turnkey PV solutions for solar farms and rooftop installations under the Ontario standard offer program. 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.
Forward-Looking Statements
Certain statements in this news release may be considered to be forward-looking. Such statements are based on management's current expectations, estimations, and assumptions based on experience, trends, and other factors that are subject to the significant risks and uncertainties described in our regulatory filings. Please refer to these. Such risks and uncertainties may include, but are not limited to, the effects of general economic conditions, changing foreign exchange rates, actions by government authorities, uncertainties associated with legal proceedings and negotiations, industry supply levels, competitive pricing pressures and misjudgments in the course of preparing forward-looking statements. ARISE assumes no obligation to update any forward-looking statements or to update the reasons why actual results could differ from those reflected in the forward-looking statements.
%SEDAR: 00017494E
For further information: ARISE Technologies Corporation, 65 Northland Road, Waterloo, Ontario, Canada, N2V 1Y8, Dave Chornaby, Chief Financial Officer, (519) 772-5732, Dave.Chornaby@arisetech.com, www.arisetech.com
Quelle: http://www.newswire.ca/en/releases/archive/April2008/17/c6847.html
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