ARISE Technologies Signs First Contract for Sale of 7N+ Silicon

Thu Jun 12, 11:49 AM
 

    
    -   ARISE will sell 120 tonnes of 7N+ silicon over three-year period,
        commencing 2011 to Taiwan-based manufacturer, Sino-American Silicon
        Products Inc. (SAS)
    -   Silicon will be produced at ARISE's new 400-tonnes-per-year pilot
        production plant construction of which is scheduled to start in
        Waterloo in third-quarter 2008
    -   Second agreement provides for SAS to process ARISE 7N+ polysilicon
        into solar wafers for ARISE's PV cell production

WATERLOO, ON, June 12 /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 Sino-American Silicon Products Inc. (SAS) has contracted with ARISE to purchase 120 tonnes of 7N+ solar-grade polysilicon.

Under the agreement, SAS will purchase 40 tonnes in each of 2011, 2012, and 2013. ARISE plans to manufacture the 7N+ high-purity (99.99999 percent purity) silicon at its new pilot plant in Waterloo, Ontario. Pricing terms of the agreement are confidential, but are believed to be consistent with industry standards.

As previously announced, construction of ARISE's new silicon pilot manufacturing plant is planned to begin in the third-quarter 2008 with an initial capacity of 50 tonnes per year in 2009, ramping up to 400 tonnes per year in 2010. The contract with SAS is consistent with ARISE's plan to use the output from the new silicon plant to meet the requirements of its growing PV cell production at its new manufacturing plant in Germany as well as for sale to other companies.

Under a second three-year agreement signed between the companies, ARISE will consign 7N+ polysilicon to SAS. SAS will use the material to process solar wafers for ARISE, which will use them for its PV cell manufacturing operations. Under this agreement, the processing will consist of 40 tonnes in 2010, 80 tonnes in 2011, and 160 tonnes in 2012.

"This signing of our first sales agreement for the 7N+ high-purity silicon that we will be producing is a very exciting step for ARISE. It signifies further validation of our technology and strategic plans," said Bart Tichelman, President and Chief Executive Officer. "It is significant on many levels, including the opportunity to forge a long-term relationship with Sino-American Silicon Products that we expect will be beneficial to both our companies."

"Prior to signing these agreements, we have examined the plans, products, and technology of ARISE Technologies and have been very impressed by them," said Doris Hsu, President of Sino-American Silicon Products Inc. "SAS is very pleased to have been able to reach these agreements with ARISE and we look forward to working closely together in advancing our solar businesses over the coming years."

About Sino-American Silicon Products Inc.

Sino-American Silicon Products Inc. (SAS), incorporated in 1981, is the leading and the first public company specializing in the manufacturing of medium- and small-diameter silicon wafers in Taiwan. SAS is principally engaged in the research, development, manufacture, and sale of silicon wafers and ingots. Headquartered in Taiwan, with its shares traded on the Over-The-Counter Security Exchange in the Republic of China since March 2001, SAS offers silicon ingots, solar ingots/chips, diffused wafers, polished wafers, non-polished wafers, epitaxial wafers, silicon-on-insulator (SOI) wafers, and other non-silicon products. The company distributes its products in the domestic market and to overseas markets, including the rest of Asia, the Americas, and Europe.

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 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 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.

Contacts

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