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Press Release Source: ARISE Technologies Corporation
ARISE Technologies Meets Fourth Milestone for its Silicon Feedstock Pilot Plant Project Monday December 8, 9:32 am ET
WATERLOO, ON, Dec. 8 /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 it has met the fourth major milestone for its Silicon Feedstock Pilot Plant Project. ADVERTISEMENT "Achieving this latest milestone is yet another example of the ARISE Silicon team's outstanding ability to execute on its plans. Our Silicon program continues to gain momentum," said Bart Tichelman, President and Chief Executive Officer.
"We have completed all the engineering planning required for the new 68,000-square-foot Pilot Plant in Kitchener, Ontario. The retrofitting of the existing building to suit our needs is underway and on schedule. As previously announced, we are planning that the Pilot Plant will have a production capacity of 50 tonnes per year in 2009 and a further expansion to 400 tonnes per year is expected by 2010," Mr. Tichelman stated.
"It's important to recognize the tremendous contribution to our silicon program that EBNER Industrieofenbau G.m.b.H., the manufacturer of our Silicon Refining Furnace version 4 (SiRF(TM) 4) has made and continues to make. It is set for delivery to our plant in the 2009 first quarter. Our valued partnership with Ebner has enabled us to maintain a very rapid pace of development along the pathway to get our proprietary process to market. Ebner's design and manufacturing engineering expertise are among the best in class," Mr. Tichelman remarked.
"The engineering design, procurement, and fabrication for the first SiRF(TM) 4 furnace are complete and we are very pleased with the results of the initial runs. We expect to use SiRF(TM) 4 equipment in our 400-tonnes-per-year facility, planned for 2010," reported Jeff Dawkins, Vice-President and General Manager, PV Silicon Division.
Meeting the fourth milestone included completing the initial construction phase of the Pilot Plant and the successful completion and operation of a Pilot Plant scale furnace. The company met its first milestone of the project with the August 2007 commissioning of the Silicon Refining Furnace version 3.1 (SiRF(TM) 3.1). ARISE met its second milestone when the Mini Pilot Plant became operational in December 2007, successfully producing polysilicon. The company met its third milestone in May 2008 when ARISE achieved specific objectives at its Mini Pilot Plant with respect to process economics, scalability, and quality.
ARISE's silicon feedstock development project is being partially funded by Sustainable Development Technology Canada (SDTC). The project is developing a new approach being used for refining high-purity silicon needed for high-efficiency PV (photovoltaic) cells. The proprietary process that ARISE is developing is intended to produce 7N+ high-purity (99.99999 percent) silicon for PV applications using a simplified chemical vapor deposition process. ARISE believes that its ability to produce 7N+ high-purity silicon will enable it to meet its target of more than 20 percent efficiency for PV cells.
SDTC is funding about one-third of the eligible project costs up to $6.4 million, payable in tranches as ARISE meets specified milestones. SDTC's funding of the project is leveraged by an additional $13.2 million committed by a consortium led by ARISE.
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 Division manufactures PV (photovoltaic) cells 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 greater than 20 percent. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999 percent) for PV applications, based on a simplified chemical vapour deposition process. The division is focusing on scaling up its process to provide ARISE with control over its supply, costs, and quality. The PV Systems Division provides complete turnkey PV solutions for solar farms and rooftop installations under the Ontario Renewable Energy 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.
About EBNER Industrieofenbau G.m.b.H.
EBNER is one of the leading manufacturers worldwide of heat treatment facilities for the steel, copper, and aluminum semi-finished products industries. They manufacture continuous and batch-type furnaces featuring cutting-edge technology that deliver maximum performance and optimum anneal results. EBNER facilities are among the most reliable, economical, and environmentally superior. Further information is available at www.ebner.cc.
About Sustainable Development Technology Canada
Sustainable Development Technology Canada (SDTC) is an arm's-length foundation, which has received $1.05 billion from the Government of Canada as part of its commitment to create a healthy environment and a high quality of life for all Canadians. SDTC operates two funds aimed at the development and demonstration of innovative technological solutions. The $550 million SD Tech Fund(TM) supports projects that address climate change, air quality, clean water, and clean soil. The $500 million NextGen Biofuels Fund(TM) supports the establishment of first-of-kind, large-demonstration-scale facilities for the production of next-generation renewable fuels. SDTC operates as a not-for-profit corporation and has been working with the public and private sector including industry, academia, non-governmental organizations (NGOs), the financial community, and all levels of government to achieve this mandate.
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.
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 |