ARISE signs five-year supply deal for PV cells
2008-04-30 17:27 ET - News Release
Mr. Chris Waters reports
ARISE TECHNOLOGIES SIGNS FIVE-YEAR CONTRACT TO SUPPLY PV CELLS TO ALEO SOLAR
ARISE Technologies Corp.'s wholly owned subsidiary, ARISE Technologies Deutschland GmbH (ARISE Germany), has signed a five-year contract to supply photovoltaic (PV) cells to aleo solar AG of Germany.
Under the terms of the agreement, commencing this quarter through 2012, ARISE Germany will supply aleo solar with 90 megawatts of PV cells. ARISE Germany will produce the PV cells at its new plant in Bischofswerda, Germany, which began commercial production last week. The contract's payment terms are in line with market expectations from both parties.
"This is a significant PV cell supply contract for us," noted Chris Waters, ARISE's vice-president, business development. "We believe that the fact that our new plant is now in commercial production will further our efforts to sign additional major supply contracts over time, firmly establishing ARISE as a leader in the solar technology industry. aleo solar is the sort of strong partner with which we want to establish long-term, mutually beneficial relationships. aleo solar is expanding rapidly in its domestic German market and internationally in growth markets such as Spain and Italy. This agreement provides ARISE with access to these markets and sets the stage for our own rapid growth."
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