NEWS!
ARISE Technologies Corporation Signs Four Silicon Wafer Supply Agreements
• ARISE now has six supply agreements in place with volume to meet approximately 80% of its
expected 2008 production requirements
• New PV cell plant in Germany on schedule for initial production in April on Line 1
• Line 2 start-up expected in first quarter 2009
• Commerzbank AG increases credit facilities with the addition of a $14 million inventory purchase
line
Waterloo, ON, March 24, 2008 – 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 signed supply agreements with four additional silicon wafer suppliers for deliveries beginning in 2008. The
Company also announced it has entered into an additional $14 million credit facility agreement with
Commerzbank AG to be used for the purchase of silicon wafer inventory.
“We now have firm agreements with six wafer suppliers that will meet approximately 80 percent of our
expected 2008 production requirements,” said Bart Tichelman, President and Chief Executive Officer. “We
expect that the balance of our requirements will be met on a high-priority, best-efforts basis by these six
companies. We are continuing discussions with these and other companies for wafer supply contracts that will
cover our requirements in 2008 and beyond. Most of the agreements that we have signed are multi-year supply
commitments.
“The completion of construction of our new photovoltaic (PV) cell production plant in Bischofswerda, Germany
is on schedule to start initial production on Line 1 before the end of April. Now that we are confident in our
wafer supply we are working with our equipment suppliers on Line 2, which we expect to be in production in
the first quarter of 2009,” Mr. Tichelman said. “We expect the cells produced on Line 2 to have an efficiency of
up to 18% when the line is fully optimized.” |
Thread abonnieren
