| www.newswire.ca/en/releases/archive/October2009/13/c5984.htmlARISE Technologies takes over PV Cell Factory from Scheuten Solar - ARISE has signed a lease on the Scheuten PV cell manufacturing plant in Gelsenkirchen, Germany, and will employ all of the people currently employed there - ARISE intends to convert the plant to a Technology Centre to commercialize high-efficiency PV cell technology - Non-binding letters of intent signed whereby Scheuten intends to purchase PV cells from ARISE and ARISE intends to purchase OEM modules from Scheuten - ARISE has purchased the assets, including inventory, of the Scheuten PV cell manufacturing plant and the consideration is to be paid as price reductions on PV cells sold to Scheuten WATERLOO, ON, Oct. 13 /CNW/ - ARISE Technologies Corporation (TSX: APV and Frankfurt: A3T), which is dedicated to becoming a leader in high-performance, high-quality, cost-effective solar technology, today announced that it has entered into multi-faceted agreements with Scheuten. The agreements will result in ARISE creating a PV (photovoltaic) cell Technology Centre in Germany and create an opportunity to establish a relationship with Scheuten as a potential PV cell customer and modules supplier. The agreements between ARISE and Scheuten comprise the following . - ARISE has signed a lease for the Scheuten PV cell manufacturing plant located in Gelsenkirchen, Germany. ARISE intends to use the building as a Technology Centre with a pilot production line to commercialize the company's high-efficiency PV cell technology. - Scheuten has an option to sell the building and property to ARISE in 2012 at a fixed price; if Scheuten does not exercise its option, ARISE can extend the lease. - Scheuten has signed a non-binding letter of intent whereby Scheuten intends to purchase PV cells from ARISE. - ARISE has signed a non-binding letter of intent whereby ARISE intends to purchase OEM modules from Scheuten. - ARISE has purchased the assets, including inventory, of the Scheuten PV cell manufacturing plant. It is the intention that the payment for the assets will be satisfied through pricing reductions on PV cells sold to Scheuten. - ARISE will employ all of the 55 people currently employed at the Gelsenkirchen plant. The employees have agreed to work under the same terms as their existing employment agreement at the Gelsenkirchen plant, ARISE's factory in Bischofswerda, Germany or in the new Technology Centre that ARISE intends to establish. Both parties have worked hard to secure these jobs resulting in a smooth transition for the employees. "Delivering on our high-efficiency PV cell program is a very important part of our strategy to differentiate ourselves in the marketplace," said Vern Heinrichs, ARISE's President and Chief Executive Officer. "We are pleased that we can move forward with this significant step in our technology program at this time. This announcement is the first step of the next phase of our technology commercialization program and we expect that it will take a number of months to finalize the funding, partners, and other aspects required to ramp up this program. We also are pleased that the two letters of intent have the potential to result in the supply of significant megawatts of ARISE PV cells to Scheuten." "This opportunity between ARISE Technologies and Scheuten Solar represents incremental production and supply above our existing business. We appreciate ARISE's approach of fair prices for high-quality products where each shipment is judged on its own merit," said Frans van der Heuvel, President and Chief Executive Officer of Scheuten Solar. "Both companies have demonstrated their expertise in solar technologies and manufacturing. We expect that the agreements that we have signed will prove very beneficial to our companies, our employees, and our investors." Since its founding in 1950, Scheuten has become a leading, fast-growing, international high-volume manufacturer of total solutions in glass and solar energy systems. In 2000, the company began to focus on the development and manufacture of solar modules and high-grade solar energy systems. Scheuten now has specialists operating in solar technology, manufacturing, project development, and project realization. Scheuten's 4,350-square-metre PV cell plant in Gelsenkirchen was built by Shell Solar and started operation in 2000. ARISE has a unique understanding of this factory because Sjouke Zijlstra, who is now the Vice-President and General Manager of ARISE Germany, managed the design, construction, and operations from the inception in 1998 to his joining ARISE in 2007. "This plant is expected to make an ideal Technology Centre for ARISE. We have been considering for some time the advantages of establishing a Technology Centre in Germany with a pilot production line to assist in commercializing our high-efficiency PV cell technology," said Ian MacLellan, Chief Technology Officer and President of ARISE's Systems Division. "This agreement with Scheuten enables us to establish this Technology Centre with the bonus of developing a new, strong customer opportunity." "The establishment of this Technology Centre will complement our research activities with Canadian universities and will help us strengthen our activities in Canada. The Gelsenkirchen location is close to a number of leading research institutes and universities. We expect that this will help us attract additional experienced people to further our commercialization process. Acquiring this facility will also save time because building a Technology Centre in Bischofswerda would take longer, and would require cash up front and more cash over the longer term," Mr. MacLellan continued. Scheuten Solar Holding BV Scheuten Solar is a globally operating, innovative, and leading solar company that develops, produces, designs, and sells PV solar modules and total PV solar solutions. In addition Scheuten Solar is a PV system integrator, active in design, development, and realization of turnkey PV systems with both standard as well as glass-glass modules. Scheuten Solar has wide experience in the realization of large eye-catching PV projects as well as domestic PV solutions. Scheuten Solar started actively researching solar energy in 2000 and has supplied products to the German market since 2001. Scheuten Solar has implemented a number of high-profile projects that have allowed the company to establish itself and become a major player in the solar market. Scheuten Solar is active in all stages of the added-value chain for PV module manufacture to guarantee end-to-end manufacturing quality. Scheuten Solar has its headquarters in Venlo (Netherlands). For more information, please visit the company's website at www.scheutensolar.com. 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%. The PV Silicon Division is using a proprietary method to produce silicon at 7N+ high-purity (99.99999% purity) for PV cell applications, based on a simplified chemical vapor 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 has been providing PV solutions for solar farms and rooftop installations since 1996 throughout North America. ARISE is planning to expand its systems business in Ontario under the Ontario FIT (Feed-In-Tariff) 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 and Risk Factors 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, the requirement for additional capital, risks associated with manufacturing, , industry supply levels, competitive pricing pressures and misjudgements in the course of preparing forward-looking statements. Risk factors relating to ARISE are discussed in the Risk Factors section of ARISE's Annual Information Form and under the headings Liquidity and Capital Resources and Risk and Uncertainties in ARISE's year-end Management's Discussion and Analysis which are or will be available at www.sedar.com. These factors should be considered carefully, and readers should not place undue reliance on ARISE's 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, www.arisetech.com; For general inquires about ARISE please contact: Dave Chornaby, Chief Financial Officer, (519) 772-5732, Dave.Chornaby@arisetech.com; For inquires on our technology or Technology Centre please contact: Ian MacLellan, Chief Technology Officer and President Systems Division, (519) 772-5707, ian.maclellan@arisetech.com; Scheuten Solar, Lilian Geurtjens, Communication Manager, Phone: +31 77 3247591, Fax: +31 77 3599227, E-mail: lgeurtjens@scheuntensolar.com, www.scheuntensolar.com |
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